Navigant Consulting (NCI) Upgraded to Buy at Zacks Investment Research
Navigant Consulting (NYSE:NCI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The firm presently has a $26.00 price objective on the business services provider’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 11.49% from the company’s previous close.
According to Zacks, “Navigant reported strong third-quarter 2018 results wherein both earnings and revenues surpassed the Zacks Consensus Estimate. The company’s healthcare segment has grown through acquisitions and recruitment of senior hires. Its Energy segment has expanded through investments in hiring, solution development and acquisitions. It continues to invest in technology infrastructure to augment its technology-based service offerings to meet the changing client demands. Navigant continues to reward its shareholders with share repurchases and dividend payments. Shares of Navigant have outperformed its industry in the past year. Despite such positives, the company is experiences weak performance in its healthcare segment. Higher talent costs due to competitive talent market and Trump’s stringent policies on immigration are hurting consulting services stocks like Navigant.”
Several other brokerages also recently commented on NCI. William Blair downgraded shares of Navigant Consulting from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 2nd. ValuEngine raised shares of Navigant Consulting from a “hold” rating to a “buy” rating in a research report on Friday, August 3rd. Finally, Barrington Research reaffirmed a “buy” rating and set a $30.00 price objective on shares of Navigant Consulting in a research report on Tuesday, October 2nd. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Navigant Consulting currently has an average rating of “Buy” and a consensus target price of $28.00.
Navigant Consulting (NYSE:NCI) last released its earnings results on Thursday, November 8th. The business services provider reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. The business had revenue of $171.39 million during the quarter, compared to the consensus estimate of $168.69 million. Navigant Consulting had a net margin of 16.05% and a return on equity of 8.04%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.30 EPS. On average, sell-side analysts expect that Navigant Consulting will post 0.43 EPS for the current year.
In other news, EVP Lee A. Spirer sold 19,800 shares of the firm’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $24.08, for a total transaction of $476,784.00. Following the completion of the sale, the executive vice president now owns 87,446 shares of the company’s stock, valued at approximately $2,105,699.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Stephen R. Lieberman sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $24.24, for a total transaction of $72,720.00. Following the sale, the chief financial officer now directly owns 53,513 shares of the company’s stock, valued at approximately $1,297,155.12. The disclosure for this sale can be found here. Company insiders own 2.75% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Laurion Capital Management LP bought a new position in shares of Navigant Consulting in the 3rd quarter worth $376,000. JPMorgan Chase & Co. lifted its holdings in shares of Navigant Consulting by 474.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 777,731 shares of the business services provider’s stock worth $17,936,000 after purchasing an additional 642,249 shares in the last quarter. GSA Capital Partners LLP lifted its holdings in shares of Navigant Consulting by 25.2% in the 3rd quarter. GSA Capital Partners LLP now owns 34,566 shares of the business services provider’s stock worth $797,000 after purchasing an additional 6,955 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Navigant Consulting by 125.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 34,575 shares of the business services provider’s stock worth $797,000 after purchasing an additional 19,250 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of Navigant Consulting in the 3rd quarter worth $2,908,000. Institutional investors own 92.67% of the company’s stock.
Navigant Consulting Company Profile
Navigant Consulting, Inc provides professional services to corporate executives and senior management, corporate counsel, law firms, corporate boards, special committees, and governmental agencies worldwide. It operates through four segments: Healthcare; Energy; Financial Services Advisory and Compliance; and Disputes, Forensics and Legal Technology.
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