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


CIT Group Inc. [NYSE: CIT] traded at a high on 01/03/22, posting a 4.21 gain after which it closed the day’ session at $53.50. 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 32723081 shares changing hands. Over the past one week, the price volatility of CIT Group Inc. stands at 3.72% while the volatility over the past one month is 3.26%.

The market cap for CIT stock reached $5.26 billion, with 99.17 million shares outstanding and 97.91 million shares in the current float. Compared to the average trading volume of 681.79K shares, CIT reached a trading volume of 32723081 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 1.92, with the Price to Sales ratio for CIT stock in the period of the last 12 months amounting to 3.42. The Price to Book ratio for the last quarter was 0.94, 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 129.80.

How has CIT stock performed recently?

CIT Group Inc. [CIT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.34. With this latest performance, CIT shares gained by 10.47% in over the last four-week period, additionally plugging by 9.32% over the last 6 months – not to mention a rise of 49.40% 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 58.94, with the RSI for the last a single of trading hit 62.25, and the three-weeks RSI is set at 56.57 for CIT Group Inc. [CIT]. The present Moving Average for the last 50 days of trading for this stock 50.51, while it was recorded at 51.91 for the last single week of trading, and 51.50 for the last 200 days.

CIT Group Inc. [CIT]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and CIT Group Inc. [CIT] shares currently have an operating margin of -9.44. CIT Group Inc.’s Net Margin is presently recorded at -20.15.

Return on Total Capital for CIT is now -2.32, given the latest momentum, and Return on Invested Capital for the company is -5.07. Return on Equity for this stock declined to -10.20, with Return on Assets sitting at -1.13. When it comes to the capital structure of this company, CIT Group Inc. [CIT] has a Total Debt to Total Equity ratio set at 106.37. Additionally, CIT Total Debt to Total Capital is recorded at 51.54, with Total Debt to Total Assets ending up at 10.48. Long-Term Debt to Equity for the company is recorded at 106.63, with the Long-Term Debt to Total Capital now at 46.93.

Reflecting on the efficiency of the workforce at the company, CIT Group Inc. [CIT] managed to generate an average of -$136,733 per employee.

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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Insider trade positions for CIT Group Inc. [CIT]

There are presently around $4,676 million, or 94.60% of CIT stock, in the hands of institutional investors. The top three institutional holders of CIT stocks are: BLACKROCK INC. with ownership of 11,490,109, which is approximately -2.224% of the company’s market cap and around 0.30% of the total institutional ownership; VANGUARD GROUP INC, holding 9,587,617 shares of the stock with an approximate value of $492.23 million in CIT stocks shares; and STATE STREET CORP, currently with $270.91 million in CIT stock with ownership of nearly -4.865% of the company’s market capitalization.

Positions in CIT Group Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 131 institutional holders increased their position in CIT Group Inc. [NYSE:CIT] by around 8,837,058 shares. Additionally, 133 investors decreased positions by around 8,402,669 shares, while 56 investors held positions by with 73,833,063 shares. The mentioned changes placed institutional holdings at 91,072,790 shares, according to the latest SEC report filing. CIT stock had 37 new institutional investments in for a total of 878,550 shares, while 30 institutional investors sold positions of 4,766,685 shares during the same period.