Navient Corporation (NAVI) Price Target Lowered to $16.00 at Credit Suisse Group
Navient Corporation (NASDAQ:NAVI) had its target price dropped by Credit Suisse Group from $16.50 to $16.00 in a research report issued on Wednesday. The firm presently has an “outperform” rating on the credit services provider’s stock. Credit Suisse Group’s price objective indicates a potential upside of 8.84% from the stock’s previous close.
Several other equities analysts also recently commented on the stock. BidaskClub raised shares of Navient Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Jefferies Group LLC reissued a “buy” rating on shares of Navient Corporation in a research note on Monday, June 12th. Stifel Nicolaus increased their price objective on shares of Navient Corporation from $24.00 to $26.00 and gave the company a “hold” rating in a research note on Monday, June 12th. ValuEngine raised shares of Navient Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 16th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $20.00 price objective on shares of Navient Corporation in a research note on Friday, July 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $18.30.
Navient Corporation (NASDAQ NAVI) traded down 13.74% during trading on Wednesday, hitting $12.68. The stock had a trading volume of 9,715,291 shares. The stock has a 50-day moving average price of $14.07 and a 200-day moving average price of $14.80. The company has a market cap of $3.48 billion, a PE ratio of 6.57 and a beta of 2.48. Navient Corporation has a 52 week low of $12.55 and a 52 week high of $17.95.
Navient Corporation (NASDAQ:NAVI) last announced its earnings results on Tuesday, July 18th. The credit services provider reported $0.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.02. Navient Corporation had a net margin of 11.50% and a return on equity of 14.05%. The firm had revenue of $343.00 million for the quarter, compared to analyst estimates of $331.67 million. During the same quarter in the prior year, the business posted $0.47 EPS. The business’s revenue was down 15.9% compared to the same quarter last year. Equities analysts predict that Navient Corporation will post $1.76 EPS for the current year.
Navient Corporation declared that its Board of Directors has initiated a stock buyback plan on Wednesday, October 4th that allows the company to repurchase shares. This repurchase authorization allows the credit services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.
In other Navient Corporation news, EVP John M. Kane sold 28,886 shares of the company’s stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $15.00, for a total value of $433,290.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.68% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Creative Planning increased its position in Navient Corporation by 7.2% in the 2nd quarter. Creative Planning now owns 7,066 shares of the credit services provider’s stock valued at $118,000 after acquiring an additional 472 shares during the period. Ffcm LLC increased its position in Navient Corporation by 144.5% in the 2nd quarter. Ffcm LLC now owns 7,071 shares of the credit services provider’s stock valued at $119,000 after acquiring an additional 4,179 shares during the period. Bronfman E.L. Rothschild L.P. increased its position in Navient Corporation by 8.8% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 7,564 shares of the credit services provider’s stock valued at $126,000 after acquiring an additional 612 shares during the period. Ameritas Investment Partners Inc. acquired a new position in Navient Corporation in the 1st quarter valued at approximately $112,000. Finally, Grove Bank & Trust increased its position in shares of Navient Corporation by 33.3% during the second quarter. Grove Bank & Trust now owns 9,280 shares of the credit services provider’s stock worth $154,000 after buying an additional 2,320 shares during the period. Hedge funds and other institutional investors own 93.02% of the company’s stock.
Navient Corporation Company Profile
Navient Corporation provides asset management and business processing services to education, healthcare and government clients at the federal, state and local levels. The Company holds the portfolio of education loans insured or federally guaranteed under the Federal Family Education Loan Program (FFELP).
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