CNH Industrial (NYSE:CNHI) Given New $17.00 Price Target at Truist Financial

CNH Industrial (NYSE:CNHI) had its price target trimmed by Truist Financial from $18.00 to $17.00 in a research note published on Monday, Benzinga reports. The firm currently has a buy rating on the stock.

CNHI has been the topic of several other reports. The Goldman Sachs Group raised CNH Industrial from a neutral rating to a buy rating and set a $19.00 price target on the stock in a research report on Wednesday, January 17th. Evercore ISI boosted their price objective on shares of CNH Industrial from $11.50 to $13.00 and gave the company an in-line rating in a report on Tuesday, February 20th. Robert W. Baird boosted their price target on CNH Industrial from $15.00 to $16.00 and gave the stock an outperform rating in a research report on Thursday, February 15th. Oppenheimer reiterated a market perform rating on shares of CNH Industrial in a research note on Tuesday, April 16th. Finally, DA Davidson initiated coverage on shares of CNH Industrial in a report on Tuesday, January 23rd. They set a neutral rating and a $13.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $15.20.

CNH Industrial Stock Performance

Shares of CNH Industrial stock opened at $11.61 on Monday. The company has a quick ratio of 7.86, a current ratio of 9.32 and a debt-to-equity ratio of 3.34. The business’s fifty day simple moving average is $12.25 and its 200-day simple moving average is $11.72. CNH Industrial has a 52 week low of $9.77 and a 52 week high of $15.74. The firm has a market cap of $14.59 billion, a PE ratio of 6.77 and a beta of 1.66.

CNH Industrial (NYSE:CNHI) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. CNH Industrial had a return on equity of 28.40% and a net margin of 9.48%. The firm had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same period in the prior year, the company posted $0.35 earnings per share. The firm’s quarterly revenue was down 9.8% compared to the same quarter last year. Equities analysts forecast that CNH Industrial will post 1.53 earnings per share for the current year.

CNH Industrial Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Wednesday, May 29th. Investors of record on Monday, May 13th will be issued a $0.47 dividend. This is an increase from CNH Industrial’s previous annual dividend of $0.39. This represents a dividend yield of 3.71%. The ex-dividend date is Friday, May 10th.

Hedge Funds Weigh In On CNH Industrial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Salem Investment Counselors Inc. acquired a new stake in CNH Industrial in the 1st quarter valued at about $26,000. SRS Capital Advisors Inc. bought a new stake in shares of CNH Industrial during the fourth quarter worth about $25,000. Larson Financial Group LLC boosted its position in CNH Industrial by 566.0% during the 1st quarter. Larson Financial Group LLC now owns 2,118 shares of the company’s stock worth $27,000 after buying an additional 1,800 shares during the period. Hartford Financial Management Inc. grew its position in shares of CNH Industrial by 210.0% during the 1st quarter. Hartford Financial Management Inc. now owns 3,100 shares of the company’s stock worth $40,000 after buying an additional 2,100 shares during the period. Finally, Alta Advisers Ltd bought a new stake in CNH Industrial in the third quarter valued at $40,000. Institutional investors and hedge funds own 59.88% of the company’s stock.

CNH Industrial Company Profile

CNH Industrial N.V., an equipment and services company, engages in the design, production, marketing, sale, and financing of agricultural and construction equipment in North America, Europe, the Middle East, Africa, South America, and the Asia Pacific. The company operates through three segments: Agriculture, Construction, and Financial Services.