Shares of CIT Group Inc. (NYSE:CIT) gapped up prior to trading on Thursday . The stock had previously closed at $33.82, but opened at $34.00. CIT Group shares last traded at $34.36, with a volume of 1,179,163 shares traded.

Several analysts have recently commented on CIT shares. Credit Suisse Group AG restated a “hold” rating and issued a $42.00 target price on shares of CIT Group in a research note on Wednesday, March 23rd. Morgan Stanley restated an “overweight” rating and issued a $38.00 target price on shares of CIT Group in a research note on Monday, April 4th. Oppenheimer Holdings Inc. restated a “buy” rating and issued a $50.00 target price on shares of CIT Group in a research note on Monday, April 4th. Zacks Investment Research upgraded shares of CIT Group from a “sell” rating to a “hold” rating in a research note on Friday, July 8th. Finally, Sterne Agee CRT cut shares of CIT Group from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a research note on Monday, March 28th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $44.25.

The stock’s 50 day moving average price is $32.35 and its 200-day moving average price is $32.24. The company has a market capitalization of $7.04 billion and a PE ratio of 6.12.

CIT Group (NYSE:CIT) last posted its quarterly earnings data on Thursday, April 28th. The financial services provider reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.76 by $0.01. During the same period last year, the business earned $0.59 EPS. Analysts anticipate that CIT Group Inc. will post $3.12 EPS for the current year.

Other large investors recently bought and sold shares of the company. Condor Capital Management increased its stake in CIT Group by 1.2% in the fourth quarter. Condor Capital Management now owns 29,411 shares of the financial services provider’s stock valued at $1,168,000 after buying an additional 354 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of CIT Group by 19.4% in the fourth quarter. ProShare Advisors LLC now owns 38,268 shares of the financial services provider’s stock worth $1,519,000 after buying an additional 6,218 shares during the last quarter. Twin Capital Management Inc. acquired a new stake in shares of CIT Group during the fourth quarter worth $2,036,000. Shell Asset Management Co. increased its stake in shares of CIT Group by 91.3% in the fourth quarter. Shell Asset Management Co. now owns 57,675 shares of the financial services provider’s stock worth $2,290,000 after buying an additional 27,525 shares during the last quarter. Finally, GSA Capital Partners LLP increased its stake in shares of CIT Group by 343.6% in the fourth quarter. GSA Capital Partners LLP now owns 68,442 shares of the financial services provider’s stock worth $2,717,000 after buying an additional 53,012 shares during the last quarter.

CIT Group Inc (CIT) is a bank holding company. The Company, together with its subsidiaries, provides financing, leasing and advisory services to middle market companies in a range of industries in North America, and equipment financing and leasing solutions to the transportation industry around the world.

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