The shares of CIT Group Inc. (NYSE:CIT) has been pegged with a rating of Buy by UBS in its latest research note that was published on January 09, 2019. UBS wasn’t the only research firm that published a report of CIT Group Inc., with other equities research analysts also giving their opinion on the stock. The stock had earned Market Perform rating from Wells Fargo Markets when it published its report on December 01, 2017. BofA/Merrill was of a view that CIT is Buy in its latest report on April 26, 2017. Morgan Stanley thinks that CIT is worth Equal-Weight rating. This was contained in the firm’s report on March 27, 2017 in which the stock’s price target was also moved to 45.
Amongst the analysts that rated the stock, 0 have recommended investors to sell it, 6 believe it has the potential for further growth, thus rating it as Hold while 4 advised investors to purchase the stock. The consensus currently stands at a Overweight while its average price target is $42.00. The price of the stock the last time has raised by 56.82% from its 52-Week high price while it is -65.11% than its 52-Week low price. A look at the stock’s other technical shows that its 14-day RSI now stands at 41.96.
The shares of the company dipped by -10.20% during the trading session on Wednesday, reaching a low of $18.64 while ending the day at $18.85. During the trading session, a total of 2.1 million shares were traded which represents a 16.56% incline from the average session volume which is 2.52 million shares. CIT had ended its last session trading at $20.99. CIT Group Inc. currently has a market cap of $1.63 billion, while its P/E ratio stands at 3.57, while its P/E earnings growth sits at 0.36, with a beta of 2.11. CIT 52-week low price stands at $12.02 while its 52-week high price is $54.02.
The company in its last quarterly report recorded $1.27 earnings per share which is above the predicted by most analysts. In the second quarter last year, the firm recorded $1.29 earnings per share. Compared to the same quarter last year, the firm’s revenue was up by 7.09%. CIT Group Inc. has the potential to record 3.92 EPS for the current fiscal year, according to equities analysts.
Investment analysts at Mizuho published a research note on April 03, 2020 where it informed investors and clients that ConocoPhillips (NYSE:COP) is now rated as Neutral. Their price target on the stock stands at $33. RBC Capital Mkts also rated COP as Upgrade on March 16, 2020, with its price target of $50 suggesting that COP could surge by 32.45% from its current share price. Even though the stock has been trading at $34.08/share, analysts expect it to down by -5.52% to reach $47.67/share. It started the day trading at $33.00 and traded between $30.73 and $32.20 throughout the trading session.
A look at its technical shows that COP’s 50-day SMA is 41.73 while its 200-day SMA stands at 54.47. The stock has a high of $67.42 for the year while the low is $20.84. The stock, however, witnessed a rise in its short on 03/31/20. Compared to previous close which recorded 13.36 M shorted shares, the short percentage went higher by 2.78%, as 13.73M CIT shares were shorted. At the moment, only 1.28% of ConocoPhillips shares were sold short. The company’s P/E ratio currently sits at 5.04, while the P/B ratio is 1.01. The company’s average trading volume currently stands at 10.90M shares, which means that the short-interest ratio is just 1.26 days. Over the past seven days, the company moved, with its shift of -3.22%. Looking further, the stock has dropped -50.57% over the past 90 days while it lost -42.63% over the last six months.
The change in the stock’s fortunes has led to several institutional investors altering their holdings of the stock. The The Vanguard Group, Inc. sold more COP shares, decreasing its portfolio by -1.00% during the last quarter. This move now sees The The Vanguard Group, Inc. selling -875,434 shares in the last quarter, thus it now holds 87,019,307 shares of COP, with a total valuation of $2,680,194,656. SSgA Funds Management, Inc. meanwhile sold more COP shares in the recently filed quarter, changing its stake to $1,551,917,444 worth of shares.
Similarly, BlackRock Fund Advisors decreased its ConocoPhillips shares by 2.64% during the recently filed quarter. After selling 48,900,471 shares in the last quarter, the firm now controls -1,325,089 shares of ConocoPhillips which are valued at $1,506,134,507. In the same vein, JPMorgan Investment Management, I… decreased its ConocoPhillips shares by during the most recent reported quarter. The firm bought 2,375,145 shares during the quarter which decreased its stakes to 19,544,086 shares and is now valued at $601,957,849. Following these latest developments, around 0.10% of ConocoPhillips stocks are owned by institutional investors and hedge funds.