CNH Industrial NV (CNHI) Upgraded to Buy at Bank of America Corporation
CNH Industrial NV (NASDAQ:CNHI) was upgraded by stock analysts at Bank of America Corporation from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday, Marketbeat reports.
Other analysts have also recently issued reports about the company. Barclays PLC reissued a “sell” rating and issued a $9.00 price target (up from $8.00) on shares of CNH Industrial NV in a report on Wednesday, April 19th. Zacks Investment Research cut CNH Industrial NV from a “buy” rating to a “hold” rating in a report on Thursday, May 11th. Stifel Nicolaus began coverage on CNH Industrial NV in a report on Tuesday, April 11th. They issued a “hold” rating and a $10.50 price target for the company. J P Morgan Chase & Co raised CNH Industrial NV from an “underweight” rating to a “neutral” rating and raised their price target for the company from $8.00 to $10.00 in a report on Monday, May 1st. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $10.00 price target (down from $10.01) on shares of CNH Industrial NV in a report on Thursday, April 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. CNH Industrial NV has a consensus rating of “Hold” and a consensus price target of $9.00.
Shares of CNH Industrial NV (NASDAQ:CNHI) opened at 11.58 on Monday. The stock has a 50 day moving average price of $11.10 and a 200-day moving average price of $9.81. CNH Industrial NV has a 52-week low of $6.26 and a 52-week high of $11.79. The stock has a market capitalization of $15.78 billion and a PE ratio of 51.47.
CNH Industrial NV (NASDAQ:CNHI) last posted its quarterly earnings data on Thursday, April 27th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The company had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.43 billion. CNH Industrial NV had a return on equity of 4.11% and a net margin of 0.55%. The firm’s revenue was up 5.8% compared to the same quarter last year. On average, equities research analysts anticipate that CNH Industrial NV will post $0.43 EPS for the current fiscal year.
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Institutional investors have recently modified their holdings of the company. Norges Bank purchased a new position in shares of CNH Industrial NV during the fourth quarter valued at about $82,296,000. TIAA CREF Investment Management LLC boosted its position in shares of 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 shares of 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 purchased a new position in shares of CNH Industrial NV during the first quarter valued at about $18,548,000. Finally, JPMorgan Chase & Co. boosted its position in shares of 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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