Navistar International Corp Sees Large Volume Increase Following Better-Than-Expected Earnings (NAV)
Navistar International Corp (NYSE:NAV) shares saw an uptick in trading volume on Wednesday after the company announced better than expected quarterly earnings, American Banking and Market News reports. 986,888 shares traded hands during mid-day trading, an increase of 60% from the previous session’s volume of 616,650 shares.The stock last traded at $38.71 and had previously closed at $38.49.
The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.66) by $0.62. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the previous year, the company posted ($2.94) earnings per share. The company’s revenue for the quarter was down .6% on a year-over-year basis.
NAV has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Navistar International Corp in a research note on Friday, August 8th. They now have a $36.00 price target on the stock. Separately, analysts at Vertical Research downgraded shares of Navistar International Corp to a “sell” rating in a research note on Friday, August 1st. Finally, 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. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. Navistar International Corp currently has a consensus rating of “Hold” and a consensus target price of $38.56.
The stock has a 50-day moving average of $36.77 and a 200-day moving average of $35.90. The company’s market cap is $3.151 billion.
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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