Strength Seen in Ferrari (RACE): Can Its 3.2% Jump Turn into More Strength?

Ferrari (RACE) shares soared 3.2% in the last trading session to close at $426.82. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 13.8% loss over the past four weeks.Ferrari stock has climbed after the luxury automaker announced a 10% price increase on select models starting April 1 to counter new U.S. auto tariffs. Despite this adjustment, Ferrari stated it remains committed to its financial targets for the year, according to a Reuters report.This luxury sports car maker is expected to post quarterly earnings of $2.29 per share in its upcoming report, which represents a year-over-year change of +8%. Revenues are expected to be $1.81 billion, up 5.2% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For Ferrari, the consensus EPS estimate for the quarter has been revised 0.9% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on RACE going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Ferrari is a member of the Zacks Automotive - Original Equipment industry. One other stock in the same industry, Adient (ADNT), finished the last trading session 10.5% lower at $13.51. ADNT has returned -10% over the past month.For Adient, the consensus EPS estimate for the upcoming report has changed +0.3% over the past month to $0.32. This represents a change of -40.7% from what the company reported a year ago. Adient currently has a Zacks Rank of #3 (Hold).Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ferrari N.V. (RACE): Free Stock Analysis Report Adient (ADNT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks