It’s Okay That Ferrari (RACE) Took A Breather, Says Jim Cramer

We recently published 8 Stocks Jim Cramer Talked About. Ferrari N.V. (NYSE:RACE) is one of the stocks Jim Cramer recently discussed.

Luxury car manufacturer Ferrari N.V. (NYSE:RACE) took a breather on Tuesday after it announced its third-quarter profit. The firm reported €382 million in profit to beat analyst estimates of €367 million. Ferrari N.V. (NYSE:RACE)’s latest figures came after a stinging Capital Markets Day in October, after which the shares were down by 15% in Milan. As part of its earnings report, Ferrari N.V. (NYSE:RACE) reaffirmed the €7.1 billion full-year net guidance figure provided in October and added that product differentiation through customization helped with its strong financial performance. Investors were also pleased by the firm’s €670 million EBITDA that beat the €649 million consensus in a Reuters poll. Despite the fact that Ferrari N.V. (NYSE:RACE)’s shares had dipped in October, Cramer commented that the firm had been a winner for a while:

Pixabay/Public Domain

“I think it’s been a winner for so long I think it’s okay that it. takes a breather.”

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Disclosure: None. This article is originally published at Insider Monkey.