Navistar International Corp. (NAV) Sets New 12-Month High on Analyst Upgrade
Navistar International Corp. (NYSE:NAV) reached a new 52-week high during trading on Tuesday after Jefferies Group raised their price target on the stock from $25.00 to $35.00. Jefferies Group currently has a buy rating on the stock. Navistar International Corp. traded as high as $24.04 and last traded at $22.85, with a volume of 502,266 shares. The stock had previously closed at $23.28.
Other research analysts have also recently issued reports about the stock. Deutsche Bank AG initiated coverage on shares of Navistar International Corp. in a report on Tuesday, September 6th. They set a “hold” rating and a $14.00 price objective for the company. Wells Fargo & Co. reiterated a “hold” rating on shares of Navistar International Corp. in a report on Tuesday, September 6th. Seaport Global Securities lifted their price objective on shares of Navistar International Corp. from $13.00 to $19.00 and gave the company a “neutral” rating in a report on Wednesday, September 7th. Stifel Nicolaus reiterated a “sell” rating and set a $14.00 price objective (up from $10.00) on shares of Navistar International Corp. in a report on Wednesday, September 7th. Finally, Robert W. Baird lifted their price objective on shares of Navistar International Corp. from $12.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, September 9th. Three equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $16.82.
In other news, Director Michael N. Hammes sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $18.71, for a total value of $74,840.00. Following the sale, the director now owns 5,261 shares of the company’s stock, valued at $98,433.31. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 21.60% of the stock is currently owned by insiders.
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A number of institutional investors have recently modified their holdings of the stock. Jacobs Levy Equity Management Inc. boosted its position in shares of Navistar International Corp. by 1,823.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 257,277 shares of the company’s stock valued at $3,221,000 after buying an additional 243,900 shares in the last quarter. HBK Investments L P purchased a new position in shares of Navistar International Corp. during the first quarter valued at approximately $257,000. BlackRock Inc. boosted its position in shares of Navistar International Corp. by 93.8% in the first quarter. BlackRock Inc. now owns 11,033 shares of the company’s stock valued at $138,000 after buying an additional 5,339 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Navistar International Corp. during the first quarter valued at approximately $165,000. Finally, Stanley Capital Management LLC boosted its position in shares of Navistar International Corp. by 82.7% in the first quarter. Stanley Capital Management LLC now owns 274,966 shares of the company’s stock valued at $3,443,000 after buying an additional 124,500 shares in the last quarter.
The stock’s market capitalization is $1.86 billion. The company’s 50-day moving average is $19.18 and its 200 day moving average is $14.18.
Navistar International Corp. (NYSE:NAV) last announced its quarterly earnings data on Thursday, September 8th. The company reported ($0.42) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.57. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter last year, the business earned ($0.37) earnings per share. The business’s revenue was down 17.8% compared to the same quarter last year. Equities analysts forecast that Navistar International Corp. will post ($0.48) EPS for the current year.
Navistar International Corp. Company Profile
Navistar International Corporation (NIC) is a holding company, whose principal operating subsidiaries are Navistar, Inc and Navistar Financial Corporation (NFC). The Company is a manufacturer of International brand commercial and military trucks, MaxxForce brand diesel engines, IC Bus (IC) brand school and commercial buses, as well as a provider of service parts for trucks and diesel engines.
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