Navistar International Corp Receives “Neutral” Rating from Zacks (NAV)
Navistar International Corp (NYSE:NAV)‘s stock had its “neutral” rating restated by Zacks in a report released on Friday. They currently have a $36.00 price target on the stock. Zacks‘s target price would suggest a potential upside of 4.80% from the company’s current price.
Zacks’ analyst wrote, “Navistar recorded adjusted net loss of $1.44 per share in the second quarter of fiscal 2014, wider than the Zacks Consensus Estimate of a loss of $1.30. Navistar’s revenues rose 8.7% year over year to $2.75 billion, beating the Zacks Consensus Estimate of $2.67 billion. The upside in revenues was driven by the company’s improving market share. Navistar expects Class 8 industry sales in fiscal 2014 to be in the range of 225,000-235,000 units in the U.S. and Canada. The company is also positioned to benefit from product launches, cost-saving initiatives and higher production. However, we are concerned about intensifying competition and strict EPA regulations, which are likely to impact the profitability of the company. As a result, we are maintaining our Neutral recommendation on Navistar. “
Several other analysts have also recently commented on the stock. Analysts at Vertical Research downgraded shares of Navistar International Corp to a “sell” rating in a research note on Friday, August 1st. Separately, analysts at Piper Jaffray initiated coverage on shares of Navistar International Corp in a research note on Wednesday, July 16th. They set an “overweight” rating and a $46.00 price target on the stock. Finally, analysts at CRT Capital raised their price target on shares of Navistar International Corp from $33.00 to $35.00 in a research note on Friday, June 6th. They now have a “fair value” rating on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $38.56.
Shares of Navistar International Corp (NYSE:NAV) traded up 0.35% on Friday, hitting $34.47. The stock had a trading volume of 217,850 shares. Navistar International Corp has a 52-week low of $29.08 and a 52-week high of $41.57. The stock has a 50-day moving average of $36.99 and a 200-day moving average of $35.47. The company’s market cap is $2.803 billion.
Navistar International Corp (NYSE:NAV) last posted its quarterly earnings results on Thursday, June 5th. The company reported ($3.65) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($1.31) by $2.34. The company had revenue of $2.70 million for the quarter, compared to the consensus estimate of $2.72 million. During the same quarter in the prior year, the company posted ($4.39) earnings per share. The company’s quarterly revenue was up 8.7% on a year-over-year basis. Analysts expect that Navistar International Corp will post $-7.39 EPS for the current fiscal year.
Navistar International Corporation (NYSE:NAV) is a holding company, whose principal operating subsidiaries are Navistar, Inc and Navistar Financial Corporation (NFC).
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