Navistar International (NYSE:NAV) was upgraded by Zacks Investment Research from a “sell” rating to a “strong-buy” rating in a research report issued on Tuesday. The brokerage currently has a $44.00 price target on the stock. Zacks Investment Research‘s target price points to a potential upside of 10.25% from the company’s current price.
According to Zacks, “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. However, 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, year to date, the company’s shares have underperformed the industry it belongs to.”
A number of other research analysts have also commented on the company. Stifel Nicolaus raised Navistar International from a “hold” rating to a “buy” rating and raised their price target for the company from $45.00 to $50.00 in a report on Tuesday, December 12th. Piper Jaffray Companies set a $37.00 price target on Navistar International and gave the company a “hold” rating in a report on Sunday, December 10th. Gabelli lowered Navistar International from a “buy” rating to a “hold” rating in a report on Wednesday, December 20th. BMO Capital Markets raised their price target on Navistar International from $25.00 to $40.00 and gave the company a “market perform” rating in a report on Friday, December 22nd. Finally, Seaport Global Securities reissued a “neutral” rating on shares of Navistar International in a report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $43.64.
Shares of Navistar International (NYSE NAV) traded up $1.39 on Tuesday, hitting $39.91. The stock had a trading volume of 377,490 shares, compared to its average volume of 802,528. The firm has a market capitalization of $3,792.26, a price-to-earnings ratio of 333.33, a price-to-earnings-growth ratio of 4.06 and a beta of 2.58. The company has a debt-to-equity ratio of -0.85, a current ratio of 1.14 and a quick ratio of 0.91. Navistar International has a 52 week low of $22.89 and a 52 week high of $47.73.
Navistar International (NYSE:NAV) last issued its quarterly earnings results on Tuesday, December 19th. The company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.71. The company had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.27 billion. Navistar International had a negative return on equity of 0.96% and a net margin of 0.35%. The company’s quarterly revenue was up 25.9% compared to the same quarter last year. During the same period last year, the company earned ($0.42) earnings per share. research analysts expect that Navistar International will post 1.9 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in NAV. Northern Trust Corp grew its holdings in Navistar International by 1.5% during the second quarter. Northern Trust Corp now owns 617,178 shares of the company’s stock worth $16,189,000 after acquiring an additional 9,127 shares during the period. Vanguard Group Inc. grew its holdings in Navistar International by 2.3% during the second quarter. Vanguard Group Inc. now owns 4,219,294 shares of the company’s stock worth $110,673,000 after acquiring an additional 96,310 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Navistar International by 70.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 831,863 shares of the company’s stock valued at $21,820,000 after purchasing an additional 344,890 shares during the period. Voya Investment Management LLC boosted its position in shares of Navistar International by 9.7% in the 2nd quarter. Voya Investment Management LLC now owns 22,506 shares of the company’s stock valued at $590,000 after purchasing an additional 1,996 shares during the period. Finally, State Street Corp boosted its position in shares of Navistar International 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 period. 81.84% of the stock is currently owned by hedge funds and other institutional investors.
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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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