Trade Report: The CNH Industrial NV (CNHI) Shares Up 2.2% on Analyst Upgrade

The CNH Industrial NV (CNHI) Shares Up 2.2% on Analyst Upgrade

CNH Industrial NV (NASDAQ:CNHI)’s share price shot up 2.2% during mid-day trading on Wednesday after Zacks Investment Research upgraded the stock from a hold rating to a buy rating. Zacks Investment Research now has a $8.50 price target 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. The stock had previously closed at $7.39.

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. “

CNHI has been the topic of a number of other reports. Bank of America Corp. downgraded CNH Industrial NV from a “buy” rating to an “underperform” rating and cut their target price for the company from $9.00 to $6.00 in a research report on Thursday, July 7th. Piper Jaffray Cos. downgraded CNH Industrial NV from a “neutral” rating to an “underweight” rating and set a $5.00 target price on the stock. in a research report on Monday, July 25th. Citigroup Inc. cut their target price on 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. Deutsche Bank AG began coverage on CNH Industrial NV in a research report on Tuesday, September 6th. They issued a “sell” rating and a $6.38 target price on the stock. Finally, Barclays PLC upped their target price on CNH Industrial NV from $6.00 to $7.00 and gave the company an “underweight” rating in a research report on Wednesday. Four research analysts have rated the stock with a sell rating, one has assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $6.73.

A number of large investors have recently made changes to their positions in CNHI. First New York Securities LLC NY raised its stake in shares of CNH Industrial NV by 149,500.0% in the second quarter. First New York Securities LLC NY now owns 149,600 shares of the company’s stock valued at $1,070,000 after buying an additional 149,500 shares in the last quarter. Aviva PLC raised its stake in shares of CNH Industrial NV by 30.8% in the second quarter. Aviva PLC now owns 893,286 shares of the company’s stock valued at $6,426,000 after buying an additional 210,119 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of CNH Industrial NV during the second quarter valued at approximately $826,000. Swiss National Bank raised its stake in shares of CNH Industrial NV by 10.7% in the second quarter. Swiss National Bank now owns 6,862,009 shares of the company’s stock valued at $49,362,000 after buying an additional 664,043 shares in the last quarter. Finally, World Asset Management Inc raised its stake in shares of CNH Industrial NV by 8.6% in the second quarter. World Asset Management Inc now owns 82,083 shares of the company’s stock valued at $587,000 after buying an additional 6,526 shares in the last quarter.

The company’s market cap is $10.06 billion. The company 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 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 firm earned $6.75 billion during the quarter, compared to analysts’ expectations of $6.65 billion. CNH Industrial NV’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.11 earnings per share. Equities research analysts predict that CNH Industrial NV will post $0.34 earnings per share for the current fiscal year.

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