CIT Group Inc. stock trades under the ticker CIT & is a member of the Specialty Finance Industry.
CIT stock closed at $53.60/share, after showing recent bullishness that traders should take interest in.
CIT Group Inc. CIT Stock’s Technical Performance Broken Down
CIT Stock Price: $53.60
10 Day Moving-Average: $51.39
50 Day Moving-Average: $51.70
200 Day Moving-Average: $48.16
RSI: 58.4
MACD: -0.077
Yesterday, CIT completed a bullish MACD crossover after completing bullish 10 & 50 Day Moving-Average crossovers the week prior.
CIT looks to have bullish momentum to continue pushing it higher, with its next test coming at the ~$54.66 level.
There looks to be another bump higher on the horizon as the 10 Day Moving Average is .6% below the 50 day, poised to break through it bullishly soon.
CIT Group Inc. CIT Stock As A Long-Term Investment
CIT stock has many attributes that investors should find appealing.
From a valuation perspective, their P/E(ttm) of 8.44 & P/B of 0.91 are very fair.
CIT’s Quarterly Revenue Growth (Y-o-Y) is 112%, and almost 96% of their shares are held by institutional investors (95.9%).
CIT has Total Cash (mrq) of $5.66B with Total Debt (mrq) of $6.14B, which is much better than most other companies.
Tying in their 2.62% Dividend Yield with a 23.4% Payout Ratio, and there looks to be a lot of great investment opportunity in CIT.
CIT Group Inc. CIT Stock As A Short-Term Trade Using Options
I am looking at CIT options, eyeing the 10/15 expiration date.
From the calls perspective, the $50 strike price looks good, being in-the-money & much more liquid than the $55 contracts; although the $55’s also look appealing if this momentum continues.
Overall sentiment on CIT stock looks bullish, as the Open Interest on the 10/15 puts is near nonexistent compared to the calls.
With that said, the $55 strike puts are currently looking like the best option.
Tying It All Together
Overall, CIT Group Inc. stock has many opportunities in the near & long-term.
In the near-term, momentum looks set to continue powering their share price higher over the coming weeks.
In the long-run, CIT stock’s fundamentals are appealing, and their Dividend Yield looks very safe.
Traders & investors alike will both find CIT Group Inc. stock worth taking a closer look at to see if they are a good fit for their trading strategy.
*** I DO NOT OWN SHARES OF CIT STOCK ***