Analyst Rating Update on CIT Group Inc (DEL) (CIT)

CIT Group Inc (DEL) (NYSE:CIT) : 11 analysts are covering CIT Group Inc (DEL) (NYSE:CIT) and their average rating on the stock is 2, which is read as a Buy. 6 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 4, which recommends a Sell affirms that they expect a large upside in the stock from the current levels. 1 more analyst has given the stock a Sell recommendation. A total of 4 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

CIT Group Inc (DEL) (NYSE:CIT) : Currently there are 11 street experts covering CIT Group Inc (DEL) (NYSE:CIT) stock. The most bullish and bearish price target for the stock is $65 and $33 respectively for the short term. The average price target of all the analysts comes to $43.46. The estimated standard deviation from the target is $9.73.

For the current week, the company shares have a recommendation consensus of Buy. Also, Nomura maintains its view on CIT Group Inc (DEL) (NYSE:CIT) according to the research report released by the firm to its investors. The shares have now been rated Neutral by the stock experts at the ratings house. Nomura raises the price target from $29 per share to $33 per share on CIT Group Inc (DEL). The rating by the firm was issued on May 3, 2016.

CIT Group Inc (DEL) (NYSE:CIT): stock turned positive on Tuesday. Though the stock opened at $29.13, the bulls momentum made the stock top out at $29.485 level for the day. The stock recorded a low of $28.7 and closed the trading day at $29.41, in the green by 3.37%. The total traded volume for the day was 1,710,062. The stock had closed at $28.45 in the previous days trading.

In an insider trading activity, 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. 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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