Fiat Chrysler Automobiles (NYSE:FCAU) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage presently has a $20.00 target price on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 8.99% from the company’s current price.
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 equities analysts have also weighed in on the company. ValuEngine lowered Fiat Chrysler Automobiles from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Morgan Stanley upped their target price on Fiat Chrysler Automobiles from $14.00 to $18.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 21st. BidaskClub lowered Fiat Chrysler Automobiles from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 14th. Citigroup raised Fiat Chrysler Automobiles from a “sell” rating to a “neutral” rating and upped their target price for the stock from $6.87 to $18.33 in a research report on Friday, November 10th. Finally, Bank of America set a $19.00 target price on Fiat Chrysler Automobiles and gave the stock a “hold” rating in a research report on Wednesday, October 25th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $16.78.
Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its holdings in Fiat Chrysler Automobiles by 163.8% during the third quarter. JPMorgan Chase & Co. now owns 7,520,960 shares of the company’s stock worth $132,294,000 after buying an additional 4,669,960 shares in the last quarter. CIBC World Markets Inc. bought a new position in Fiat Chrysler Automobiles in the 2nd quarter valued at $1,228,000. FNY Partners Fund LP grew its stake in Fiat Chrysler Automobiles by 1,954.0% in the 2nd quarter. FNY Partners Fund LP now owns 1,328,924 shares of the company’s stock valued at $14,126,000 after purchasing an additional 1,264,224 shares during the period. AXA grew its stake in Fiat Chrysler Automobiles by 15.3% in the 3rd quarter. AXA now owns 2,132,516 shares of the company’s stock valued at $38,194,000 after purchasing an additional 282,858 shares during the period. Finally, Gotham Asset Management LLC bought a new position in Fiat Chrysler Automobiles in the 2nd quarter valued at $532,000. Institutional investors and hedge funds own 31.22% of the company’s stock.
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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 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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