Zacks Investment Research Upgrades CNH Industrial NV (CNHI) to Buy
CNH Industrial NV (NASDAQ:CNHI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The firm presently has a $8.50 price objective on the stock. Zacks Investment Research’s target price would suggest a potential upside of 15.02% from the company’s previous close.
According to Zacks, “CNH Industrial NV designs, produces and sells trucks, commercial vehicles, buses, special vehicles, agricultural and construction equipment, in addition to engines and transmissions for those vehicles and engines for marine application. CNH Industrial NV is based in Amsterdam, the Netherlands. “
Several other equities analysts have also weighed in on the stock. Deutsche Bank AG cut their price objective on shares of CNH Industrial NV from $6.38 to $6.37 and set a “sell” rating on the stock in a research report on Wednesday. Barclays PLC raised their price objective on shares of CNH Industrial NV from $6.00 to $7.00 and gave the company an “underweight” rating in a research report on Wednesday. Piper Jaffray Cos. lowered shares of CNH Industrial NV from a “neutral” rating to an “underweight” rating and set a $5.00 price objective on the stock. in a research report on Monday, July 25th. Citigroup Inc. cut their price objective on shares of CNH Industrial NV from $8.00 to $7.50 and set a “neutral” rating on the stock in a research report on Friday, July 15th. Finally, Bank of America Corp. lowered shares of CNH Industrial NV from a “buy” rating to an “underperform” rating and cut their price objective for the company from $9.00 to $6.00 in a research report on Thursday, July 7th. Four research analysts have rated the stock with a sell rating, one has given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. CNH Industrial NV presently has an average rating of “Hold” and an average target price of $6.73.
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CNH Industrial NV (NASDAQ:CNHI) traded down 1.99% on Thursday, reaching $7.39. 839,105 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $7.28 and a 200 day moving average of $7.12. CNH Industrial NV has a 12 month low of $5.67 and a 12 month high of $7.91. The stock’s market capitalization is $10.06 billion.
CNH Industrial NV (NASDAQ:CNHI) last issued its quarterly earnings data 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 business had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $6.65 billion. CNH Industrial NV’s revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.11 EPS. Equities analysts predict that CNH Industrial NV will post $0.34 earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in the stock. Parametrica Management Ltd raised its position in CNH Industrial NV by 63.2% in the third quarter. Parametrica Management Ltd now owns 16,656 shares of the company’s stock worth $120,000 after buying an additional 6,447 shares in the last quarter. CAPROCK Group Inc. raised its position in shares of CNH Industrial NV by 28.5% in the second quarter. CAPROCK Group Inc. now owns 40,035 shares of the company’s stock worth $286,000 after buying an additional 8,877 shares during the period. Royal Bank of Canada raised its position in shares of CNH Industrial NV by 13.7% in the second quarter. Royal Bank of Canada now owns 42,731 shares of the company’s stock worth $306,000 after buying an additional 5,157 shares during the period. GLG LLC bought a new position in shares of CNH Industrial NV during the second quarter worth about $1,072,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of CNH Industrial NV during the second quarter worth about $111,000.
CNH Industrial NV Company Profile
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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