Navistar International Corp (NYSE:NAV) Sees Large Growth in Short Interest

Navistar International Corp (NYSE:NAV) saw a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 1,882,600 shares, a growth of 9.8% from the June 30th total of 1,713,800 shares. Currently, 2.3% of the company’s shares are short sold. Based on an average daily trading volume, of 483,600 shares, the days-to-cover ratio is presently 3.9 days.

Several research analysts have recently issued reports on NAV shares. Longbow Research downgraded Navistar International from a “buy” rating to a “neutral” rating and set a $34.08 price objective for the company. in a research note on Monday, May 6th. Zacks Investment Research downgraded Navistar International from a “buy” rating to a “hold” rating and set a $36.00 price objective for the company. in a research note on Friday, June 14th. Finally, ValuEngine downgraded Navistar International from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. Navistar International presently has an average rating of “Hold” and an average price target of $37.11.

NYSE:NAV traded down $1.63 on Wednesday, reaching $23.86. 276,271 shares of the stock traded hands, compared to its average volume of 461,910. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of 7.04, a price-to-earnings-growth ratio of 0.42 and a beta of 2.15. The firm has a 50 day moving average of $31.14. Navistar International has a 1-year low of $23.69 and a 1-year high of $43.71.

Navistar International (NYSE:NAV) last released its earnings results on Tuesday, June 4th. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.18. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.70 billion. Navistar International had a net margin of 2.83% and a negative return on equity of 10.59%. The company’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.55 EPS. As a group, analysts expect that Navistar International will post 3.88 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its holdings in Navistar International by 13.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,414,220 shares of the company’s stock worth $36,699,000 after buying an additional 162,543 shares in the last quarter. Norges Bank acquired a new position in Navistar International in the 4th quarter worth $5,228,000. Geode Capital Management LLC lifted its holdings in Navistar International by 7.5% in the 4th quarter. Geode Capital Management LLC now owns 633,620 shares of the company’s stock worth $16,442,000 after buying an additional 44,079 shares in the last quarter. Huntington National Bank lifted its holdings in Navistar International by 335.7% in the 1st quarter. Huntington National Bank now owns 1,063 shares of the company’s stock worth $34,000 after buying an additional 819 shares in the last quarter. Finally, Boston Advisors LLC lifted its holdings in Navistar International by 1.8% in the 1st quarter. Boston Advisors LLC now owns 58,996 shares of the company’s stock worth $1,906,000 after buying an additional 1,041 shares in the last quarter. 79.50% of the stock is owned by institutional investors and hedge funds.

About Navistar International

Navistar International Corporation, through its subsidiaries, manufactures and sells commercial and military trucks, diesel engines, school and commercial buses, and service parts for trucks and diesel engines worldwide. The company operates through four segments: Truck, Parts, Global Operations, and Financial Services.

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