Ellington Management Group LLC purchased a new stake in shares of Navistar International Corp (NYSE:NAV) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 24,900 shares of the company’s stock, valued at approximately $1,068,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlueCrest Capital Management Ltd bought a new position in shares of Navistar International during the fourth quarter valued at about $672,000. Renaissance Technologies LLC bought a new position in shares of Navistar International during the fourth quarter valued at about $28,833,000. Alliancebernstein L.P. lifted its position in shares of Navistar International by 5.4% during the fourth quarter. Alliancebernstein L.P. now owns 87,910 shares of the company’s stock valued at $3,770,000 after purchasing an additional 4,510 shares in the last quarter. Landscape Capital Management L.L.C. bought a new position in shares of Navistar International during the fourth quarter valued at about $818,000. Finally, Geode Capital Management LLC lifted its position in shares of Navistar International by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 506,696 shares of the company’s stock valued at $21,726,000 after purchasing an additional 2,217 shares in the last quarter. 81.78% of the stock is currently owned by institutional investors.
NAV has been the topic of a number of recent analyst reports. Piper Jaffray Companies set a $37.00 price target on shares of Navistar International and gave the company a “hold” rating in a research report on Sunday, December 10th. Zacks Investment Research upgraded shares of Navistar International from a “sell” rating to a “strong-buy” rating and set a $44.00 price objective for the company in a report on Tuesday, February 20th. Stifel Nicolaus set a $52.00 price objective on shares of Navistar International and gave the stock a “buy” rating in a report on Friday, February 9th. Robert W. Baird restated a “buy” rating and set a $51.00 price objective on shares of Navistar International in a report on Thursday, December 21st. Finally, Gabelli downgraded shares of Navistar International from a “buy” rating to a “hold” rating in a report on Wednesday, December 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $44.13.
Navistar International (NYSE:NAV) last issued its quarterly earnings data on Thursday, March 8th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.17. The company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.93 billion. Navistar International had a net margin of 0.22% and a negative return on equity of 1.78%. Navistar International’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.76) earnings per share. equities research analysts expect that Navistar International Corp will post 1.97 EPS for the current fiscal year.
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Navistar International 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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