Stifel Nicolaus Reiterates “Hold” Rating for Navistar International Corporation (NAV)
Navistar International Corporation (NYSE:NAV)‘s stock had its “hold” rating reaffirmed by equities research analysts at Stifel Nicolaus in a research report issued to clients and investors on Friday. They presently have a $45.00 price objective on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 6.94% from the stock’s current price.
Several other research analysts have also recently commented on the company. OTR Global raised Navistar International Corporation to a “positive” rating in a research report on Thursday, October 12th. Zacks Investment Research raised Navistar International Corporation from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research report on Tuesday, October 10th. Wells Fargo & Company increased their price target on Navistar International Corporation from $41.00 to $45.00 and gave the company a “market perform” rating in a research report on Friday, October 6th. Aegis reissued a “buy” rating and set a $50.00 price target (up from $45.00) on shares of Navistar International Corporation in a research report on Tuesday, September 26th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $47.00 price objective on shares of Navistar International Corporation in a research report on Tuesday, September 26th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. Navistar International Corporation currently has a consensus rating of “Hold” and an average price target of $37.67.
Shares of Navistar International Corporation (NYSE NAV) traded up $0.40 during midday trading on Friday, reaching $42.08. The company had a trading volume of 461,043 shares, compared to its average volume of 627,712.
Navistar International Corporation (NYSE:NAV) last issued its quarterly earnings results on Wednesday, September 6th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.28 by $0.09. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same period last year, the company posted ($0.42) earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. equities research analysts anticipate that Navistar International Corporation will post -0.51 EPS for the current fiscal year.
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In other news, Director Stephen R. D’arcy sold 1,000 shares of Navistar International Corporation stock in a transaction on Friday, October 6th. The stock was sold at an average price of $44.34, for a total value of $44,340.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Truck & Bus Gmbh Volkswagen purchased 25,367 shares of the firm’s stock in a transaction dated Monday, August 21st. The stock was acquired at an average price of $29.90 per share, for a total transaction of $758,473.30. The disclosure for this purchase can be found here. 21.80% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Gamco Investors INC. ET AL bought a new position in shares of Navistar International Corporation in the 2nd quarter valued at $175,453,000. Vanguard Group Inc. increased its stake in shares of Navistar International Corporation by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 4,219,294 shares of the company’s stock valued at $110,673,000 after purchasing an additional 96,310 shares during the last quarter. Ardevora Asset Management LLP increased its stake in shares of Navistar International Corporation by 32.1% in the 2nd quarter. Ardevora Asset Management LLP now owns 1,361,100 shares of the company’s stock valued at $35,702,000 after purchasing an additional 330,700 shares during the last quarter. Impala Asset Management LLC bought a new position in shares of Navistar International Corporation in the 2nd quarter valued at $29,727,000. Finally, State Street Corp increased its stake in shares of Navistar International Corporation by 2.5% in the 2nd quarter. State Street Corp now owns 1,012,715 shares of the company’s stock valued at $26,565,000 after purchasing an additional 25,176 shares during the last quarter. Institutional investors own 83.93% of the company’s stock.
Navistar International Corporation Company Profile
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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