Ferrari saw an improvement in its IBD SmartSelect Composite Rating Friday, from 94 to 96.
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The new score tells you the company is now outperforming 96% of all stocks in terms of the most important fundamental and technical stock-picking criteria. Winning stocks often have a 95 or higher grade in the early stages of a new price run, so that's a good starting point when looking for the best stocks to buy and watch.
Ferrari broke out earlier, but is now trading around 1% below the prior 498.70 entry from a cup with handle. In the scenario where a stock breaks out then falls 7% or more below the entry price, it's considered a failed breakout. If that happens, it's best to wait for a new pattern to form.
The stock has a 94 EPS Rating, which means its recent quarterly and annual earnings growth tops 94% of all stocks.
Its Accumulation/Distribution Rating of B- shows moderate buying by institutional investors over the last 13 weeks.
In Q2, the company reported 15% EPS growth. Revenue growth increased 15%, up from 13% in the prior report. The company has now posted rising growth in each of the last two quarters.
Ferrari earns the No. 1 rank among its peers in the Auto Manufacturers industry group. XPeng ADR and Tesla are also among the group's highest-rated stocks.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
