Zacks Investment Research Upgrades Fiat Chrysler Automobiles (NYSE:FCAU) to Buy

Fiat Chrysler Automobiles (NYSE:FCAU) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, reports. The firm currently has a $12.00 price objective on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 18.23% from the company’s previous close.

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. “

Several other research analysts have also weighed in on FCAU. Redburn Partners upgraded shares of Fiat Chrysler Automobiles from a “neutral” rating to a “buy” rating in a report on Monday, June 22nd. UBS Group reiterated a “neutral” rating on shares of Fiat Chrysler Automobiles in a report on Tuesday, June 30th. Finally, ValuEngine upgraded shares of Fiat Chrysler Automobiles from a “sell” rating to a “hold” rating in a report on Monday, June 1st. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $14.00.

NYSE:FCAU opened at $10.15 on Friday. The firm has a market cap of $19.89 billion, a price-to-earnings ratio of 28.20 and a beta of 1.88. The company has a current ratio of 0.77, a quick ratio of 0.51 and a debt-to-equity ratio of 0.30. The company’s 50-day moving average is $10.00 and its two-hundred day moving average is $10.11. Fiat Chrysler Automobiles has a 12-month low of $6.00 and a 12-month high of $16.25.

Fiat Chrysler Automobiles (NYSE:FCAU) last announced its quarterly earnings data on Friday, July 31st. The company reported ($0.65) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.98) by $1.33. The business had revenue of $11.71 billion for the quarter, compared to analyst estimates of $13.95 billion. Fiat Chrysler Automobiles had a net margin of 0.49% and a return on equity of 11.33%. The company’s revenue was down 56.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.59 EPS. On average, equities research analysts forecast that Fiat Chrysler Automobiles will post -0.69 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cerebellum GP LLC acquired a new stake in Fiat Chrysler Automobiles during the 2nd quarter worth approximately $67,000. Rocky Mountain Advisers LLC increased its position in Fiat Chrysler Automobiles by 28.6% during the 1st quarter. Rocky Mountain Advisers LLC now owns 6,477 shares of the company’s stock worth $47,000 after purchasing an additional 1,440 shares in the last quarter. Ridgewood Investments LLC acquired a new stake in Fiat Chrysler Automobiles during the 1st quarter worth approximately $79,000. Tudor Investment Corp Et Al acquired a new stake in Fiat Chrysler Automobiles in the first quarter valued at approximately $113,000. Finally, Parallel Advisors LLC grew its position in Fiat Chrysler Automobiles by 9.0% in the first quarter. Parallel Advisors LLC now owns 16,403 shares of the company’s stock valued at $117,000 after acquiring an additional 1,356 shares in the last quarter. 23.15% 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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