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CIT Group (NYSE:CIT) was downgraded by TheStreet from a “hold” rating to a “sell” rating in a research note issued on Monday.

The analysts wrote, “CIT Group (CIT) has been downgraded by TheStreet Ratings from hold to sell. The company’s weaknesses can be seen in multiple areas, such as its unimpressive growth in net income and feeble growth in its earnings per share.”

In other CIT Group news, CEO John Thain bought 40,000 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The stock was purchased at an average price of $41.54 per share, for a total transaction of $1,661,600.00. Following the completion of the purchase, the chief executive officer now directly owns 340,042 shares in the company, valued at approximately $14,125,345. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

CIT Group (NYSE:CIT) traded down 0.54% on Monday, hitting $44.53. 1,358,068 shares of the company’s stock traded hands. CIT Group has a 52-week low of $41.06 and a 52-week high of $52.72. The stock’s 50-day moving average is $44.78 and its 200-day moving average is $48.07. The company has a market cap of $8.614 billion and a price-to-earnings ratio of 14.29.

CIT Group (NYSE:CIT) last released its earnings data on Tuesday, April 29th. The company reported $0.55 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.86 by $0.31. During the same quarter last year, the company posted $0.81 earnings per share. On average, analysts predict that CIT Group will post $3.13 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Friday, May 30th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Tuesday, May 13th.

Several other analysts have also recently commented on the stock. Analysts at Nomura reiterated a “neutral” rating on shares of CIT Group in a research note on Wednesday, April 30th. They now have a $47.00 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of CIT Group in a research note on Wednesday, April 30th. They now have a $54.00 price target on the stock. Finally, analysts at SunTrust reiterated a “neutral” rating on shares of CIT Group in a research note on Wednesday, April 30th. They now have a $45.00 price target on the stock, down previously from $48.00. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. CIT Group has an average rating of “Hold” and a consensus price target of $52.37.

CIT Group Inc is a bank holding company (NYSE:CIT) together with its owned subsidiaries (CIT), provides primarily commercial financing and leasing products and other services to small and middle market businesses across a range of industries.

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