CNH Industrial NV (CNHI) Trading 2.2% Higher Following Analyst Upgrade
CNH Industrial NV (NASDAQ:CNHI) shares were up 2.2% during mid-day trading 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 trading hands. The stock had previously closed at $7.39.
CNHI has been the subject of several other reports. Bank of America Corp. downgraded CNH Industrial NV from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $9.00 to $6.00 in a research note on Thursday, July 7th. Deutsche Bank AG assumed coverage on CNH Industrial NV in a research note on Tuesday, September 6th. They issued a “sell” rating and a $6.38 price target for the company. Piper Jaffray Cos. downgraded CNH Industrial NV from a “neutral” rating to an “underweight” rating and set a $5.00 price target for the company. in a research note on Monday, July 25th. Zacks Investment Research upgraded CNH Industrial NV from a “sell” rating to a “hold” rating in a research note on Wednesday, July 27th. Finally, Citigroup Inc. dropped their price target on CNH Industrial NV from $8.00 to $7.50 and set a “neutral” rating for the company in a research note on Friday, July 15th. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $6.65.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC purchased a new position in CNH Industrial NV during the second quarter worth approximately $111,000. Wetherby Asset Management Inc. increased its position 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 worth $122,000 after buying an additional 879 shares in the last quarter. CIBC World Markets Inc. purchased a new position in CNH Industrial NV during the second quarter worth approximately $124,000. Quantitative Systematic Strategies LLC purchased a new position in CNH Industrial NV during the second quarter worth approximately $164,000. Finally, KCG Holdings Inc. increased its position in CNH Industrial NV by 71.6% in the second quarter. KCG Holdings Inc. now owns 35,308 shares of the company’s stock worth $252,000 after buying an additional 14,732 shares in the last quarter.
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The stock’s market capitalization is $10.27 billion. The company’s 50-day moving average price is $7.28 and its 200-day moving average price is $7.11.
CNH Industrial NV (NASDAQ:CNHI) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.05. The company had revenue of $6.75 billion for the quarter, compared to analysts’ expectations of $6.65 billion. The firm’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.11 earnings per share. Analysts predict 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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