Navient (NASDAQ:NAVI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “Shares of Navient have underperformed the industry over the past six months. Yet, the company has a decent earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. The company remains well poised to benefit from the ongoing economic recovery and remains focused on leveraging its asset recovery & processing businesses. Also, its inorganic growth strategies of diversifying product offerings and boosting overall business encourage us. However, Navient continues to struggle with regulatory claims and litigation burden owing to its practices in handling large number of student loans.”
NAVI has been the topic of a number of other research reports. Barclays reissued an “overweight” rating and issued a $17.00 price objective on shares of Navient in a research report on Tuesday, November 14th. BidaskClub lowered shares of Navient from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 1st. UBS Group assumed coverage on shares of Navient in a research report on Monday, January 8th. They issued a “market perform” rating on the stock. Oppenheimer assumed coverage on shares of Navient in a report on Monday, January 8th. They set a “hold” rating on the stock. Finally, JPMorgan Chase & Co. downgraded shares of Navient from a “neutral” rating to an “underweight” rating in a report on Friday, January 12th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $17.45.
Shares of Navient (NASDAQ NAVI) opened at $13.24 on Tuesday. The company has a quick ratio of 22.35, a current ratio of 22.35 and a debt-to-equity ratio of 30.13. The company has a market cap of $3,490.00, a price-to-earnings ratio of 60.18, a PEG ratio of 1.17 and a beta of 2.26. Navient has a 1 year low of $11.48 and a 1 year high of $16.97.
Navient (NASDAQ:NAVI) last announced its quarterly earnings data on Tuesday, January 23rd. The credit services provider reported $0.43 EPS for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.01. The business had revenue of $366.00 million for the quarter, compared to analyst estimates of $362.33 million. Navient had a net margin of 5.94% and a return on equity of 13.90%. During the same quarter in the previous year, the firm posted $0.43 earnings per share. research analysts forecast that Navient will post 1.91 EPS for the current year.
In related news, SVP Stephen M. Hauber sold 17,423 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $14.40, for a total transaction of $250,891.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.68% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP acquired a new position in shares of Navient in the third quarter valued at $121,000. Stone Ridge Asset Management LLC acquired a new position in shares of Navient in the fourth quarter valued at $141,000. First Allied Advisory Services Inc. acquired a new position in shares of Navient in the fourth quarter valued at $148,000. Advisors Asset Management Inc. increased its holdings in shares of Navient by 84.0% in the third quarter. Advisors Asset Management Inc. now owns 10,168 shares of the credit services provider’s stock valued at $153,000 after purchasing an additional 4,642 shares during the last quarter. Finally, Gotham Asset Management LLC acquired a new position in shares of Navient in the fourth quarter valued at $154,000. Institutional investors and hedge funds own 97.90% of the company’s stock.
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Navient Corporation provides asset management and business processing services to education, healthcare and government clients at the federal, state and local levels. The Company holds the portfolio of education loans insured or federally guaranteed under the Federal Family Education Loan Program (FFELP).
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