Jefferies Group LLC Reiterates Positive Rating for Navistar International Corporation (NAV)
Navistar International Corporation (NYSE:NAV)‘s stock had its “positive” rating restated by investment analysts at Jefferies Group LLC in a note issued to investors on Thursday. They presently have a $47.00 price objective on the stock, up from their previous price objective of $35.00. Jefferies Group LLC’s price target indicates a potential upside of 20.85% from the company’s previous close. Jefferies Group also issued estimates for Navistar International Corporation’s Q4 2017 earnings at $0.50 EPS, FY2017 earnings at ($0.59) EPS, Q1 2018 earnings at $0.15 EPS, Q2 2018 earnings at $0.25 EPS, Q3 2018 earnings at $0.70 EPS, Q4 2018 earnings at $0.90 EPS, FY2018 earnings at $2.00 EPS and FY2019 earnings at $3.75 EPS.
A number of other research firms also recently issued reports on NAV. UBS AG restated a “neutral” rating and issued a $31.00 target price (up from $29.00) on shares of Navistar International Corporation in a report on Sunday, June 11th. Zacks Investment Research downgraded shares of Navistar International Corporation from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 8th. Stifel Nicolaus restated a “hold” rating and issued a $26.00 target price (up from $24.00) on shares of Navistar International Corporation in a report on Friday, June 9th. Wells Fargo & Company restated a “market perform” rating and issued a $32.00 target price (up from $26.50) on shares of Navistar International Corporation in a report on Friday, June 9th. Finally, Barclays PLC restated a “sell” rating and issued a $20.00 target price on shares of Navistar International Corporation in a report on Thursday, June 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $31.73.
Navistar International Corporation (NAV) opened at 38.89 on Thursday. The stock has a 50 day moving average of $31.71 and a 200 day moving average of $27.85. The firm’s market capitalization is $3.82 billion. Navistar International Corporation has a one year low of $18.07 and a one year high of $39.00.
Navistar International Corporation (NYSE:NAV) last issued its quarterly earnings results on Wednesday, September 6th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.17 billion. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.42) earnings per share. Analysts forecast that Navistar International Corporation will post ($0.63) earnings per share for the current year.
In other Navistar International Corporation news, major shareholder Truck & Bus Gmbh Volkswagen purchased 43,501 shares of Navistar International Corporation stock in a transaction on Monday, July 17th. The shares were purchased at an average cost of $29.25 per share, with a total value of $1,272,404.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have acquired 499,781 shares of company stock worth $14,693,815. 21.80% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the business. First Trust Advisors LP lifted its position in Navistar International Corporation by 44.6% during the first quarter. First Trust Advisors LP now owns 268,537 shares of the company’s stock valued at $6,611,000 after buying an additional 82,866 shares in the last quarter. Suffolk Capital Management LLC acquired a new position in Navistar International Corporation during the first quarter valued at approximately $1,406,000. Strs Ohio acquired a new position in Navistar International Corporation during the first quarter valued at approximately $901,000. Quantitative Investment Management LLC acquired a new position in Navistar International Corporation during the first quarter valued at approximately $3,111,000. Finally, Russell Investments Group Ltd. lifted its position in Navistar International Corporation by 99.4% during the first quarter. Russell Investments Group Ltd. now owns 132,967 shares of the company’s stock valued at $3,274,000 after buying an additional 66,267 shares in the last quarter. 84.08% of the stock is currently owned by hedge funds and other institutional investors.
About Navistar International Corporation
Navistar International Corporation is a holding company whose principal operating entities are Navistar, Inc and Navistar Financial Corporation (NFC). The Company’s segments include Truck, Parts, Global Operations (collectively, Manufacturing operations) and Financial Services, which consists of NFC and its foreign finance operations (collectively, Financial Services operations).
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