Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of Jim Cramer, TheStreet, Inc., or any of its contributors.  TheStreet Ratings quantitative algorithm evaluates over 4,300 stocks on a daily basis by 32 different data factors and assigns a unique buy, sell, or hold recommendation on each stock.  Click here to learn more.

NEW YORK (TheStreet) -- Cit Group (CIT) - Get Report has been upgraded by TheStreet Ratings from Hold to Buy with a ratings score of B.  TheStreet Ratings Team has this to say about their recommendation:

TheStreet Ratings team rates CIT GROUP INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate CIT GROUP INC (CIT) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, compelling growth in net income, expanding profit margins, good cash flow from operations and notable return on equity. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

• The revenue growth came in higher than the industry average of 3.0%. Since the same quarter one year prior, revenues slightly increased by 8.7%. Growth in the company's revenue appears to have helped boost the earnings per share.
• The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Commercial Banks industry. The net income increased by 93.2% when compared to the same quarter one year prior, rising from $129.90 million to $251.00 million.
• The gross profit margin for CIT GROUP INC is rather high; currently it is at 69.82%. Regardless of CIT's high profit margin, it has managed to decrease from the same period last year. Despite the mixed results of the gross profit margin, CIT's net profit margin of 24.69% significantly outperformed against the industry.
• Net operating cash flow has significantly increased by 90.38% to $344.40 million when compared to the same quarter last year. Despite an increase in cash flow of 90.38%, CIT GROUP INC is still growing at a significantly lower rate than the industry average of 303.29%.
• The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. Compared to other companies in the Commercial Banks industry and the overall market on the basis of return on equity, CIT GROUP INC has outperformed in comparison with the industry average, but has underperformed when compared to that of the S&P 500.
• You can view the full analysis from the report here: CIT Ratings Report