Fiat Chrysler Automobiles N.V. (NYSE:FCAU) Downgraded to Hold at Zacks Investment Research

Fiat Chrysler Automobiles N.V. (NYSE:FCAU) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday, August 30th.

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. “

A number of other research firms also recently weighed in on FCAU. Bank of America Corporation raised Fiat Chrysler Automobiles N.V. from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $9.00 to $18.00 in a research note on Monday, August 28th. Jefferies Group LLC upped their price target on Fiat Chrysler Automobiles N.V. from $14.00 to $19.00 and gave the stock a “buy” rating in a research note on Wednesday, August 23rd. Morgan Stanley reaffirmed an “overweight” rating and set a $14.00 price target on shares of Fiat Chrysler Automobiles N.V. in a research note on Monday, July 17th. Kepler Capital Markets raised Fiat Chrysler Automobiles N.V. from a “hold” rating to a “buy” rating in a report on Friday, July 28th. Finally, BidaskClub raised Fiat Chrysler Automobiles N.V. from a “sell” rating to a “hold” rating in a report on Friday, June 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $15.41.

Shares of Fiat Chrysler Automobiles N.V. (NYSE:FCAU) traded up 5.54% during midday trading on Wednesday, reaching $16.39. 6,076,961 shares of the company’s stock traded hands. The firm has a market capitalization of $25.20 billion, a P/E ratio of 7.61 and a beta of 1.67. The stock’s 50 day moving average price is $12.89 and its 200 day moving average price is $11.38. Fiat Chrysler Automobiles N.V. has a 52-week low of $6.05 and a 52-week high of $16.46.

Fiat Chrysler Automobiles N.V. (NYSE:FCAU) last announced its quarterly earnings data on Thursday, July 27th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.17. The company had revenue of $27.93 billion for the quarter, compared to the consensus estimate of $29.24 billion. Fiat Chrysler Automobiles N.V. had a return on equity of 15.69% and a net margin of 2.51%. The firm’s revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 EPS. On average, equities research analysts anticipate that Fiat Chrysler Automobiles N.V. will post $2.61 EPS for the current fiscal year.

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Several hedge funds have recently added to or reduced their stakes in FCAU. Creative Planning grew its holdings in shares of Fiat Chrysler Automobiles N.V. by 34.4% in the first quarter. Creative Planning now owns 24,577 shares of the company’s stock valued at $269,000 after acquiring an additional 6,284 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Fiat Chrysler Automobiles N.V. by 34.9% in the first quarter. Bank of Montreal Can now owns 196,202 shares of the company’s stock valued at $2,144,000 after acquiring an additional 50,714 shares in the last quarter. Waldron LP bought a new position in shares of Fiat Chrysler Automobiles N.V. in the first quarter valued at approximately $382,000. Acadian Asset Management LLC bought a new position in shares of Fiat Chrysler Automobiles N.V. in the first quarter valued at approximately $1,298,000. Finally, Wetherby Asset Management Inc. grew its holdings in shares of Fiat Chrysler Automobiles N.V. by 5.2% in the first quarter. Wetherby Asset Management Inc. now owns 28,427 shares of the company’s stock valued at $311,000 after acquiring an additional 1,412 shares in the last quarter. 28.78% of the stock is owned by institutional investors.

Fiat Chrysler Automobiles N.V. 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 six segments: NAFTA, LATAM, APAC, EMEA, Maserati, and Components. It provides passenger cars, light trucks, and light commercial vehicles under the Abarth, Alfa Romeo, Chrysler, Dodge, Fiat, Fiat Professional, Jeep, Lancia, and Ram brand names; 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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