Analyst Price Target Update on CIT Group Inc (DEL) (NYSE:CIT)

CIT Group Inc (DEL) (NYSE:CIT): 10 Analyst have given the stock of CIT Group Inc (DEL) (NYSE:CIT) a near short term price target of $43. The standard deviation reading, which is a measure by which the stock price is expected to swing away from the mean estimate, is at $10.13. The higher price target estimate is at $65 while the lower price estimates are fixed at $33.

Many analysts have stated their opinion on the company shares. Nomura maintains their rating on the shares of CIT Group Inc (DEL) (NYSE:CIT). The current rating of the shares is Neutral. Equity Analysts at the Firm raises the price target to $33 per share from $29 per share. The rating by the firm was issued on May 3, 2016. For the current week, the company shares have a recommendation consensus of Buy.

On the companys insider trading activities, The Securities and Exchange Commission has divulged in a Form 4 filing that the director officer (Vice Chairman) of Cit Group Inc, Mnuchin Steven T had purchased shares worth of $2,051,200 in a transaction dated on February 11, 2016. A total of 80,000 shares were purchased at a price of $25.64 per share. The information is based on open market trades at the market prices.Option exercises are not covered.

CIT Group Inc (DEL) (NYSE:CIT) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.56 points or 1.71% at $32.16 with 1,046,735 shares getting traded. Post opening the session at $32.28, the shares hit an intraday low of $32.085 and an intraday high of $33.06 and the price was in this range throughout the day. The company has a market cap of $6,487 million and the number of outstanding shares have been calculated to be 201,705,270 shares. The 52-week high of CIT Group Inc (DEL) (NYSE:CIT) is $49.27 and the 52-week low is $25.185.

CIT Group Inc. is a bank holding company (BHC), which provides financing, leasing and advisory services principally to middle market companies. The Company operates in two segments: Transportation and International Finance (TIF), provider of leasing and financing solutions to operators and suppliers in the global aviation and railcar industries, and North American Commercial Finance (NACF)., which consists of four divisions: Commercial Services, Corporate Finance, Equipment Finance and Real Estate Finance. Commercial Services provides factoring, receivable management products, and secured financing to businesses. Corporate Finance provides a range of financing options and offers advisory services to small and medium size companies. Equipment Finance provides leasing and equipment loan solutions to small businesses and middle market companies. Real Estate Finance provides senior secured commercial real estate loans to developers and other commercial real estate professionals.

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