The stock of CNH Industrial N.V. (NYSE:CNHI) is now priced at $7.89 and the shares are 0.16 points up or 2.07% higher compared to its previous closing price of $7.73. The stock had 2.108 million contracts set over the past session. CNHI shares’ daily volume is compared to its average trading volume at 1.786 million shares. However, it has a float of 981 million and although its performance was 8.26% over the week, it’s one to watch. Analysts have given the CNHI stock a yearly average price target of $7.89 per share. It means the stock’s downside potential is 0% with the CNHI share price recently placing at $7.49 to $7.74. However, some brokerage firms have priced the stock below the average, including one that has called $5.
The shorts are running away from the CNH Industrial N.V. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the CNHI shares have declined. Short interest in the stock represents just 0.6% of its float, but the volume has dropped by 0.
In the last trading session, CNH Industrial N.V. (NYSE:CNHI) raised by $0.57 over the week and gained $0.6 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $11.99. The stock recorded its established 52-week high on 09/16/19.
Since 03/23/20, the stock has traded to a low of $5.06 at 55.93%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.46. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, CNH Industrial N.V.’s two-week RSI is 62.13. This suggests that the stock is neutral at the moment and that CNHI shares’ price movement remains stable. The stochastic readings are equally revealing at 86.99% meaning the CNHI share price is currently in oversold territory.
The technical chart shows that the CNHI stock will likely settle at between $8 and $8.12 per share. However, if the stock dips below $7.82, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $7.75.
Currently, the stock is trading in the green of MACD, with a reading of 0.27. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned CNHI a rating of Hold in their resuming review released on July 01. BofA/Merrill analysts downgraded their recommendation of the stock from Neutral to Underperform while keeping its target price at $5.5 in a flash note released to investors on April 13. Kepler seeing the stock struggling downgraded it from Buy to Hold on March 26 placing it at $6.
The average rating for the CNHI equity is 2.8 and is currently gathering a bullish momentum. Of 11 analysts tracking CNH Industrial N.V. polled by Reuters, 7 rated CNHI as a hold. The remaining 4 analysts were split evenly. However, the split wasn’t equal as a majority (3) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the CNHI stock price is 15.87X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 10.2 below the group’s average of 19.6. CNH Industrial N.V. has its P/E ratio at 1.8, which means that the stock is currently trading at a discount relative to the 4.1 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for CNH Industrial N.V. (NYSE:CNHI) will decrease by about -6.42%, which will see them reach $5220 million. The company’s full-year revenues are, however, expected to diminish by about -14.03%, down from $26150 million to $22480 million. CNHI’s expected adjusted earnings should drop almost -81.25% to end up at $0.03 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -103.57% to record -$0.03/share.