Navistar International (NAV) Stock Rating Lowered by Zacks Investment Research

Navistar International (NYSE:NAV) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Monday.

According to Zacks, “Of late Navistar’s sales have been partly offset by year-over-year weak performances by its Parts and Global Operations segment. Also, lower engine and component volume sales in the South American market along with a dull Brazilian economy is a concern for the company. Additionally, it expects capital expenditure to increase to the tune of $200 million in fiscal 2018. Also, over a month, the company’s shares have underperformed the industry it belongs to. However, Navistar benefits from the launch of new products, boasting an improved quality and performance. Collaboration with Volkswagen will enable the company to develop its range of products and services that it currently offers to its customers. Moreover, the company is poised to benefit from its cost-saving initiatives.”

Other equities analysts also recently issued research reports about the stock. Robert W. Baird reiterated a “buy” rating and issued a $51.00 price target on shares of Navistar International in a report on Thursday, December 21st. Stifel Nicolaus raised shares of Navistar International from a “hold” rating to a “buy” rating and increased their price objective for the company from $45.00 to $50.00 in a research note on Tuesday, December 12th. Piper Jaffray Companies set a $37.00 price objective on shares of Navistar International and gave the company a “hold” rating in a research note on Sunday, December 10th. Gabelli cut shares of Navistar International from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $45.00 price objective on shares of Navistar International in a research note on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. Navistar International presently has a consensus rating of “Hold” and an average price target of $43.86.

Shares of Navistar International (NYSE:NAV) traded up $0.43 during trading hours on Monday, reaching $45.14. 241,336 shares of the company were exchanged, compared to its average volume of 670,883. The firm has a market cap of $4,401.66, a PE ratio of 376.17, a P/E/G ratio of 4.80 and a beta of 2.58. The company has a debt-to-equity ratio of -0.85, a quick ratio of 0.91 and a current ratio of 1.14. Navistar International has a 12-month low of $22.89 and a 12-month high of $47.73.

Navistar International (NYSE:NAV) last announced its quarterly earnings data on Tuesday, December 19th. The company reported $1.36 EPS for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.71. The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.27 billion. Navistar International had a net margin of 0.35% and a negative return on equity of 0.96%. Navistar International’s quarterly revenue was up 25.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.42) EPS. analysts anticipate that Navistar International will post 1.86 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. raised its stake in shares of Navistar International by 10.9% during the second quarter. Ameritas Investment Partners Inc. now owns 4,367 shares of the company’s stock valued at $115,000 after purchasing an additional 430 shares during the period. Invictus RG purchased a new stake in shares of Navistar International during the third quarter valued at approximately $150,000. Financial Engines Advisors L.L.C. raised its stake in shares of Navistar International by 57.0% during the third quarter. Financial Engines Advisors L.L.C. now owns 3,632 shares of the company’s stock valued at $160,000 after purchasing an additional 1,319 shares during the period. Ballentine Partners LLC purchased a new stake in shares of Navistar International during the third quarter valued at approximately $220,000. Finally, Principal Financial Group Inc. purchased a new stake in shares of Navistar International during the third quarter valued at approximately $229,000. 81.81% of the stock is currently owned by institutional investors and hedge funds.

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Navistar International 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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