Fiat Chrysler Automobiles N.V. (FCAU) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Fiat Chrysler Automobiles N.V. (NYSE:FCAU) from a hold rating to a sell rating in a research report released on Wednesday morning.

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 brokerages have also issued reports on FCAU. Bank of America Corporation reaffirmed an underperform rating and set a $9.00 price target (down previously from $10.00) on shares of Fiat Chrysler Automobiles N.V. in a research note on Friday, June 16th. Morgan Stanley dropped their price target on Fiat Chrysler Automobiles N.V. from $15.00 to $14.00 and set an overweight rating for the company in a research note on Friday, June 9th. Jefferies Group LLC set a $14.00 price target on Fiat Chrysler Automobiles N.V. and gave the stock a buy rating in a research note on Monday, May 22nd. BidaskClub raised Fiat Chrysler Automobiles N.V. from a sell rating to a hold rating in a research note on Friday, June 23rd. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a buy rating on shares of Fiat Chrysler Automobiles N.V. in a research note on Thursday, April 20th. Three research analysts have rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $12.55.

Fiat Chrysler Automobiles N.V. (NYSE FCAU) opened at 12.57 on Wednesday. The firm has a market capitalization of $19.32 billion, a price-to-earnings ratio of 5.81 and a beta of 1.72. Fiat Chrysler Automobiles N.V. has a one year low of $6.05 and a one year high of $12.91. The firm has a 50-day moving average price of $11.83 and a 200-day moving average price of $11.08.

Fiat Chrysler Automobiles N.V. (NYSE:FCAU) last issued its quarterly earnings results on Thursday, July 27th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.17. Fiat Chrysler Automobiles N.V. had a return on equity of 15.69% and a net margin of 2.51%. The firm had revenue of $27.93 billion during the quarter, compared to analyst estimates of $29.24 billion. During the same quarter in the previous year, the company posted $0.45 earnings per share. The company’s revenue was up .1% compared to the same quarter last year. Analysts expect that Fiat Chrysler Automobiles N.V. will post $2.58 EPS for the current year.

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Several large investors have recently added to or reduced their stakes in FCAU. FMR LLC raised its stake in Fiat Chrysler Automobiles N.V. by 88.3% in the first quarter. FMR LLC now owns 27,377,215 shares of the company’s stock worth $299,304,000 after buying an additional 12,837,115 shares during the period. AQR Capital Management LLC raised its stake in Fiat Chrysler Automobiles N.V. by 56.9% in the first quarter. AQR Capital Management LLC now owns 31,563,111 shares of the company’s stock worth $346,023,000 after buying an additional 11,450,245 shares during the period. SRS Investment Management LLC raised its stake in Fiat Chrysler Automobiles N.V. by 1,315.8% in the first quarter. SRS Investment Management LLC now owns 10,680,904 shares of the company’s stock worth $116,742,000 after buying an additional 9,926,516 shares during the period. Renaissance Technologies LLC raised its stake in Fiat Chrysler Automobiles N.V. by 118.4% in the second quarter. Renaissance Technologies LLC now owns 8,320,100 shares of the company’s stock worth $88,443,000 after buying an additional 4,510,540 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in Fiat Chrysler Automobiles N.V. by 25.0% in the first quarter. Russell Investments Group Ltd. now owns 17,605,184 shares of the company’s stock worth $192,562,000 after buying an additional 3,524,249 shares during the period. 29.28% of the stock is owned by institutional investors.

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