Zacks Investment Research Downgrades CNH Industrial NV (CNHI) to Hold
CNH Industrial NV (NASDAQ:CNHI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday.
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. “
Other equities research analysts have also recently issued reports about the stock. Bank of America Corporation raised shares of CNH Industrial NV from a “neutral” rating to a “buy” rating in a report on Monday, June 19th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $10.00 target price on shares of CNH Industrial NV in a report on Tuesday. Stifel Nicolaus started coverage on shares of CNH Industrial NV in a report on Tuesday, April 11th. They issued a “hold” rating and a $10.50 target price on the stock. J P Morgan Chase & Co raised shares of CNH Industrial NV from an “underweight” rating to a “neutral” rating and upped their target price for the company from $8.00 to $10.00 in a report on Monday, May 1st. Finally, Barclays PLC reaffirmed a “sell” rating and issued a $9.00 target price (up from $8.00) on shares of CNH Industrial NV in a report on Wednesday, April 19th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $9.25.
CNH Industrial NV (NASDAQ:CNHI) traded down 0.26% during trading on Friday, hitting $11.62. The stock had a trading volume of 1,113,122 shares. The company has a market capitalization of $15.84 billion and a price-to-earnings ratio of 51.64. CNH Industrial NV has a 12-month low of $6.26 and a 12-month high of $11.79. The stock has a 50 day moving average price of $11.22 and a 200 day moving average price of $9.94.
CNH Industrial NV (NASDAQ:CNHI) last issued its earnings results on Thursday, April 27th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.01. The company had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.43 billion. CNH Industrial NV had a net margin of 0.55% and a return on equity of 4.11%. The firm’s revenue was up 5.8% on a year-over-year basis. Equities research analysts forecast that CNH Industrial NV will post $0.43 earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in CNH Industrial NV during the fourth quarter valued at $82,296,000. TIAA CREF Investment Management LLC boosted its position in CNH Industrial NV by 316.0% in the first quarter. TIAA CREF Investment Management LLC now owns 3,946,143 shares of the company’s stock valued at $38,041,000 after buying an additional 2,997,566 shares in the last quarter. Renaissance Technologies LLC boosted its position in CNH Industrial NV by 1,788.2% in the first quarter. Renaissance Technologies LLC now owns 2,622,720 shares of the company’s stock valued at $25,315,000 after buying an additional 2,483,820 shares in the last quarter. FIL Ltd bought a new position in CNH Industrial NV during the first quarter valued at $18,548,000. Finally, JPMorgan Chase & Co. boosted its position in CNH Industrial NV by 127.6% in the first quarter. JPMorgan Chase & Co. now owns 3,134,658 shares of the company’s stock valued at $30,220,000 after buying an additional 1,757,598 shares in the last quarter.
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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