What Is the Ferrari Stock Symbol?

As anticipation heats up ahead of the Ferrari IPO Wednesday, investors want to know what the Ferrari stock symbol is.

Ferrari share priceThe luxury car maker will make its public debut on the NYSE under the ticker RACE.

The company will offer 17.2 million shares through the Ferrari IPO. The price range has been set between $48 and $52 per share. A definitive price is expected later today (Tuesday).

Now that you know the Ferrari stock symbol (NYSE: RACE), here are 12 more facts investors need to know about the Ferrari IPO...

12 Must-Know Facts About the Ferrari IPO

  • At the price range mid-point of $50, Ferrari would be valued at around $9.8 billion.
  • That valuation for the luxury carmaker means Ferrari shares will be trading at 36 times last year's earnings. In comparison, BMW trades at 9.8 times, and Daimler at 11.2.
  • Parent company Fiat Chrysler Automobiles NV (NYSE: FCAU) is only selling a 10% stake in Ferrari. FCAU will retain 80%, and 10% belongs to the Ferrari family. The small 10% float could make Ferrari shares scarce and fuel short-term gains.
  • Ferrari's float includes a loyalty share scheme for long-term investors aimed at tightening the hold Fiat's founding Agnelli family has on the company. The Agnellis, via their holding company Exor, and Piero Ferrari together could end up with a voting power of around 50%. That would enable them to thwart any unwanted takeover bid. Exor would hold about 36% of the voting power, Piero Ferrari would have about 15%, and public shareholders would hold about 49%.
  • Ferrari limits annual car sales at 7,000. In 2013, it came in short with 6,922 cars sold. By 2019, Ferrari expects to increase the number of cars available annually to 9,000. That's a number the company feels will still allow it to maintain an exclusivity factor.
  • While the sales cap allows Ferrari to "focus on maintaining low volumes and exclusivity," it also "limits our potential sales growth and profitability," according to the Ferrari IPO filing.
  • The company is exempt from U.S. fuel-economy rules as long as it sells fewer than 10,000 cars a year worldwide. Surpassing that number could force Ferrari to sacrifice the renowned performance of its coveted high-powered engines.
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  • Ferrari reported a net profit of 265 million euros ($300 million) last year. That was a 7% increase year over year. Net revenue has grown by 7% annually from 2005 to 2014. While 2014 revenue was about 50% higher than in 2010, operating profit rose only 32%, Sanford C. Bernstein notes.Ferrari's operating margin has hovered between 14% and 16% since 2010, including the first half of 2015.
  • Ferrari plans to aggressively expand in China. But China's once sizzling economy has significantly cooled. Monday, the Asian nation reported the slowest economic growth rate in seven years.
  • Some 57% of Ferrari's non-current assets - a company's long-term investments or materials - consists of brand value. This comes from the value of the Ferrari name, copyrights, patents, and intellectual property. These are intangible assets and have no physical value.
  • The Ferrari Formula One team is the oldest and most successful team in the history of the sport, with 222 Grand Prix won. However, the team could also prove to be a problem. One of the filing's risk factors notes that Ferrari's image and the company's financial results could be affected by poor performances from the Ferrari Formula One team, which last season didn't score a single win.
  • Coupes cost over $250,000. A special edition hybrid La Ferrari sells for 1 million euros ($1.13 million) and is only available to those who already own a Ferrari. And don't look for a 4-door Ferrari model - ever.

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