Zacks Investment Research upgraded shares of Fiat Chrysler Automobiles (NYSE:FCAU) from a hold rating to a buy rating in a research note published on Tuesday morning, Zacks.com reports. They currently have $14.00 price objective on the stock.
According to Zacks, “Fiat Chrysler Automobiles NV operates as an international automotive company. It is engaged in designing, engineering, manufacturing, distributing and selling vehicles and components and production systems. The Company operates under the Abarth, Alfa Romeo, Chrysler, Dodge, Fiat, Fiat Professional, Jeep, Lancia and Ram brands. It also produces metallurgical products and production systems for the automobile industry, and owns publishing and insurance companies. Fiat Chrysler Automobiles NV is based in United Kingdom. “
Other research analysts have also recently issued research reports about the stock. ValuEngine raised shares of Fiat Chrysler Automobiles from a sell rating to a hold rating in a report on Wednesday, October 2nd. Goldman Sachs Group initiated coverage on shares of Fiat Chrysler Automobiles in a report on Monday, July 15th. They set a sell rating and a $14.18 target price for the company. Finally, Nomura initiated coverage on shares of Fiat Chrysler Automobiles in a report on Wednesday, June 19th. They set a neutral rating for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $15.85.
NYSE:FCAU opened at $13.00 on Tuesday. Fiat Chrysler Automobiles has a 12 month low of $12.11 and a 12 month high of $17.46. The firm has a fifty day simple moving average of $13.14 and a 200-day simple moving average of $13.90. The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $24.32 billion, a P/E ratio of 3.93, a PEG ratio of 1.52 and a beta of 1.72.
Fiat Chrysler Automobiles (NYSE:FCAU) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.56 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.08). Fiat Chrysler Automobiles had a return on equity of 17.07% and a net margin of 2.95%. The company had revenue of $26.74 billion for the quarter, compared to analyst estimates of $27.23 billion. During the same quarter in the previous year, the firm posted $0.62 earnings per share. The company’s quarterly revenue was down 3.2% on a year-over-year basis. Equities analysts forecast that Fiat Chrysler Automobiles will post 2.92 EPS for the current year.
Several institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC increased its holdings in Fiat Chrysler Automobiles by 35.0% in the first quarter. AQR Capital Management LLC now owns 22,405,702 shares of the company’s stock valued at $333,709,000 after buying an additional 5,807,093 shares in the last quarter. Marshall Wace LLP boosted its position in Fiat Chrysler Automobiles by 223.5% during the second quarter. Marshall Wace LLP now owns 7,159,497 shares of the company’s stock worth $99,878,000 after acquiring an additional 4,946,622 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Fiat Chrysler Automobiles by 73.3% during the second quarter. Bank of New York Mellon Corp now owns 9,703,661 shares of the company’s stock worth $134,105,000 after acquiring an additional 4,103,134 shares during the last quarter. Renaissance Technologies LLC boosted its position in Fiat Chrysler Automobiles by 14,058.9% during the second quarter. Renaissance Technologies LLC now owns 2,378,694 shares of the company’s stock worth $32,972,000 after acquiring an additional 2,361,894 shares during the last quarter. Finally, Morgan Stanley boosted its position in Fiat Chrysler Automobiles by 29.0% during the second quarter. Morgan Stanley now owns 8,507,518 shares of the company’s stock worth $117,574,000 after acquiring an additional 1,911,618 shares during the last quarter. 23.44% of the stock is owned by hedge funds and other institutional investors.
Fiat Chrysler Automobiles Company Profile
Fiat Chrysler Automobiles N.V., together with its subsidiaries, designs, engineers, manufactures, distributes, and sells vehicles, components, and production systems. The company operates through five segments: NAFTA, LATAM, APAC, EMEA, and Maserati. It provides passenger cars, SUV vehicles, trucks, and light commercial vehicles under the Jeep, Ram, Dodge, Chrysler, Fiat, Fiat Professional, Alfa Romeo, and Abarth brands; and luxury vehicles under the Maserati brand, as well as related service parts and accessories, and service contracts under the Mopar brand.
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