CNH Industrial NV (CNHI) Trading 2.2% Higher on Analyst Upgrade
CNH Industrial NV (NASDAQ:CNHI) traded up 2.2% on Wednesday after Barclays PLC raised their price target on the stock from $6.00 to $7.00. Barclays PLC currently has an underweight rating on the stock. CNH Industrial NV traded as high as $7.56 and last traded at $7.55, with a volume of 867,481 shares changing hands. The stock had previously closed at $7.39.
A number of other research analysts also recently issued reports on CNHI. Zacks Investment Research upgraded CNH Industrial NV from a “hold” rating to a “buy” rating and set a $8.00 price target on the stock in a report on Wednesday, June 29th. Citigroup Inc. reduced their price target on CNH Industrial NV from $8.00 to $7.50 and set a “neutral” rating on the stock in a report on Friday, July 15th. Piper Jaffray Cos. downgraded CNH Industrial NV from a “neutral” rating to an “underweight” rating and set a $5.00 price target on the stock. in a report on Monday, July 25th. Deutsche Bank AG assumed coverage on CNH Industrial NV in a report on Tuesday, September 6th. They set a “sell” rating and a $6.38 price target on the stock. Finally, Bank of America Corp. downgraded CNH Industrial NV from a “buy” rating to an “underperform” rating and reduced their price target for the company from $9.00 to $6.00 in a report on Thursday, July 7th. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $6.65.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Cubist Systematic Strategies LLC purchased a new position in CNH Industrial NV during the second quarter worth $111,000. Wetherby Asset Management Inc. increased its stake in CNH Industrial NV by 5.4% in the second quarter. Wetherby Asset Management Inc. now owns 17,081 shares of the company’s stock valued at $122,000 after buying an additional 879 shares during the last quarter. CIBC World Markets Inc. bought a new stake in CNH Industrial NV during the second quarter valued at $124,000. Quantitative Systematic Strategies LLC bought a new stake in CNH Industrial NV during the second quarter valued at $164,000. Finally, KCG Holdings Inc. increased its stake in CNH Industrial NV by 71.6% in the second quarter. KCG Holdings Inc. now owns 35,308 shares of the company’s stock valued at $252,000 after buying an additional 14,732 shares during the last quarter.
The company’s market cap is $10.27 billion. The firm has a 50 day moving average of $7.28 and a 200-day moving average of $7.12.
CNH Industrial NV (NASDAQ:CNHI) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.05. The business earned $6.75 billion during the quarter, compared to the consensus estimate of $6.65 billion. During the same period in the previous year, the business posted $0.11 EPS. The firm’s revenue was down 2.9% on a year-over-year basis. Analysts forecast that CNH Industrial NV will post $0.34 earnings per share for the current fiscal year.
About CNH Industrial NV
CNH Industrial N.V. is a capital goods company. The Company is engaged in the design, production, marketing, sale and financing of agricultural and construction equipment, trucks, commercial vehicles, buses and specialty vehicles for firefighting, defense and other uses, as well as engines, transmissions and axles for vehicles and engines under marine and power generation applications.
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