Navistar International Corp. (NAV) Hits New 12-Month High After Analyst Upgrade
Navistar International Corp. (NYSE:NAV)’s share price hit a new 52-week high during mid-day trading on Tuesday after Jefferies Group raised their price target on the stock from $25.00 to $35.00. Jefferies Group currently has a buy rating on the stock. Navistar International Corp. traded as high as $24.04 and last traded at $22.85, with a volume of 502,266 shares changing hands. The stock had previously closed at $23.28.
Other equities analysts have also issued research reports about the stock. Seaport Global Securities increased their target price on shares of Navistar International Corp. from $13.00 to $19.00 and gave the company a “neutral” rating in a research report on Wednesday, September 7th. Avondale Partners reiterated a “market perform” rating and issued a $9.00 target price (down previously from $12.00) on shares of Navistar International Corp. in a research report on Wednesday, June 15th. RBC Capital Markets reiterated a “sector perform” rating and issued a $18.00 target price (up previously from $13.00) on shares of Navistar International Corp. in a research report on Monday, September 12th. Stifel Nicolaus lowered shares of Navistar International Corp. from a “hold” rating to a “sell” rating and decreased their target price for the company from $13.15 to $10.00 in a research report on Monday, June 13th. Finally, Macquarie lowered shares of Navistar International Corp. from a “neutral” rating to an “underperform” rating and set a $15.00 target price for the company. in a research report on Tuesday, September 6th. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $16.82.
In related news, Director Michael N. Hammes sold 4,000 shares of the stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $18.71, for a total value of $74,840.00. Following the transaction, the director now owns 5,261 shares in the company, valued at $98,433.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 21.60% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc increased its position in Navistar International Corp. by 57.8% in the second quarter. Legal & General Group Plc now owns 168,328 shares of the company’s stock worth $1,962,000 after buying an additional 61,669 shares in the last quarter. Parametric Portfolio Associates LLC increased its position in Navistar International Corp. by 9.8% in the second quarter. Parametric Portfolio Associates LLC now owns 337,821 shares of the company’s stock worth $3,949,000 after buying an additional 30,270 shares in the last quarter. Menta Capital LLC purchased a new position in Navistar International Corp. during the second quarter worth approximately $219,000. KCG Holdings Inc. purchased a new position in Navistar International Corp. during the second quarter worth approximately $274,000. Finally, State Street Corp increased its position in shares of Navistar International Corp. by 1.3% in the second quarter. State Street Corp now owns 1,038,915 shares of the company’s stock valued at $12,150,000 after buying an additional 13,299 shares during the period.
The company’s 50-day moving average is $19.43 and its 200 day moving average is $14.24. The company’s market cap is $1.86 billion.
Navistar International Corp. (NYSE:NAV) last posted its earnings results on Thursday, September 8th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.57. The firm earned $2.10 billion during the quarter, compared to the consensus estimate of $2.19 billion. The company’s revenue for the quarter was down 17.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.37) EPS. Analysts forecast that Navistar International Corp. will post ($0.48) EPS for the current year.
About Navistar International Corp.
Navistar International Corporation (NIC) is a holding company, whose principal operating subsidiaries are Navistar, Inc and Navistar Financial Corporation (NFC). The Company is a manufacturer of International brand commercial and military trucks, MaxxForce brand diesel engines, IC Bus (IC) brand school and commercial buses, as well as a provider of service parts for trucks and diesel engines.
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