Market Analysts see CIT Group Inc. [CIT] gaining to $62. Time to buy?

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CIT Group Inc. [NYSE: CIT] traded at a low on 12/29/21, posting a -2.40 loss after which it closed the day’ session at $51.57. The company report on December 28, 2021 that Calix Set to Join S&P MidCap 400; Douglas Elliman to Join S&P SmallCap 600.

S&P Dow Jones Indices will make the following changes to the S&P MidCap 400 and S&P SmallCap 600:.


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Douglas Elliman Inc. (NYSE: DOUG) will be added to the S&P SmallCap 600 prior to the open of trading on Thursday, December 30, replacing Matrix Service Co. (NASD: MTRX), which will be removed from the S&P SmallCap 600 effective prior to the open of trading on Friday, December 31. S&P SmallCap 600 constituent Vector Group Ltd. (NYSE: VGR) is spinning off Douglas Elliman in a transaction expected to be completed on December 30. Post spin-off, Vector Group will remain in the S&P SmallCap 600. Matrix Service is no longer representative of the small-cap market space.

The results of the trading session contributed to over 3305508 shares changing hands. Over the past one week, the price volatility of CIT Group Inc. stands at 2.19% while the volatility over the past one month is 3.14%.

The market cap for CIT stock reached $5.07 billion, with 99.17 million shares outstanding and 97.91 million shares in the current float. Compared to the average trading volume of 595.96K shares, CIT reached a trading volume of 3305508 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about CIT Group Inc. [CIT]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CIT shares is $52.60 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CIT stock is a recommendation set at 2.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Keefe Bruyette have made an estimate for CIT Group Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on April 20, 2021. While these analysts kept the previous recommendation, Citigroup raised their target price from $28 to $37. The new note on the price target was released on November 18, 2020, representing the official price target for CIT Group Inc. stock. Previously, the target price had yet another raise to $34.50, while BMO Capital Markets analysts kept a Market Perform rating on CIT stock. On November 10, 2020, analysts increased their price target for CIT shares from 30 to 34.

The Average True Range (ATR) for CIT Group Inc. is set at 1.81, with the Price to Sales ratio for CIT stock in the period of the last 12 months amounting to 3.30. The Price to Book ratio for the last quarter was 0.91, with the Price to Cash per share for the same quarter was set at 50.55. Price to Free Cash Flow for CIT in the course of the last twelve months was 125.12.

How has CIT stock performed recently?

CIT Group Inc. [CIT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.32. With this latest performance, CIT shares gained by 2.36% in over the last four-week period, additionally sinking by -0.04% over the last 6 months – not to mention a rise of 47.34% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CIT stock in for the last two-week period is set at 53.49, with the RSI for the last a single of trading hit 54.13, and the three-weeks RSI is set at 52.45 for CIT Group Inc. [CIT]. The present Moving Average for the last 50 days of trading for this stock 50.52, while it was recorded at 52.89 for the last single week of trading, and 51.50 for the last 200 days.

Earnings analysis for CIT Group Inc. [CIT]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CIT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for CIT Group Inc. go to 10.00%.

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