CNH Industrial (CNHI) Stock Price Up -2.1% After Analyst Upgrade
CNH Industrial NV (NYSE:CNHI) shares rose 2.1% during mid-day trading on Friday after Bank of America raised their price target on the stock from $17.00 to $18.00. Bank of America currently has a buy rating on the stock. CNH Industrial traded as high as $15.65 and last traded at $15.17. Approximately 1,101,126 shares changed hands during trading, a decline of 47% from the average daily volume of 2,070,790 shares. The stock had previously closed at $15.50.
Other analysts have also recently issued research reports about the stock. BidaskClub cut shares of CNH Industrial from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 11th. Zacks Investment Research upgraded shares of CNH Industrial from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a report on Tuesday, October 10th. Deutsche Bank restated a “buy” rating and set a $13.20 target price (up previously from $12.80) on shares of CNH Industrial in a report on Monday, October 9th. Citigroup upgraded shares of CNH Industrial from a “neutral” rating to a “buy” rating and boosted their target price for the company from $13.75 to $15.00 in a report on Wednesday, November 29th. Finally, Seaport Global Securities restated a “buy” rating and set a $16.00 target price on shares of CNH Industrial in a report on Wednesday, January 3rd. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $14.69.
Institutional investors have recently made changes to their positions in the stock. Prudential PLC boosted its stake in CNH Industrial by 7.8% in the 2nd quarter. Prudential PLC now owns 404,825 shares of the company’s stock worth $4,607,000 after purchasing an additional 29,247 shares in the last quarter. Citadel Advisors LLC bought a new position in CNH Industrial in the 2nd quarter worth about $929,000. Nomura Holdings Inc. bought a new position in CNH Industrial in the 2nd quarter worth about $559,000. Royal Bank of Canada boosted its stake in CNH Industrial by 58.9% in the 2nd quarter. Royal Bank of Canada now owns 37,906 shares of the company’s stock worth $432,000 after purchasing an additional 14,055 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in CNH Industrial by 61.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,120,610 shares of the company’s stock worth $25,363,000 after purchasing an additional 804,286 shares in the last quarter. Institutional investors own 18.15% of the company’s stock.
CNH Industrial (NYSE:CNHI) last announced its quarterly earnings results on Tuesday, January 30th. The company reported $0.14 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.14. The company had revenue of $8.10 billion for the quarter, compared to analysts’ expectations of $7.38 billion. CNH Industrial had a net margin of 1.08% and a return on equity of 14.58%. CNH Industrial’s revenue was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.14 EPS. equities research analysts expect that CNH Industrial NV will post 0.66 earnings per share for the current year.
CNH Industrial declared that its Board of Directors has initiated a share buyback program on Tuesday, January 30th that permits the company to repurchase $700.00 million in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
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CNH Industrial 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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