TD Cowen Lowers Navient (NASDAQ:NAVI) Price Target to $8.50

Navient (NASDAQ:NAVI) had its target price decreased by equities research analysts at TD Cowen from $9.00 to $8.50 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “sell” rating on the credit services provider’s stock. TD Cowen’s price target indicates a potential upside of 1.01% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Zacks Research upgraded shares of Navient from a “strong sell” rating to a “hold” rating in a research report on Monday, March 30th. JPMorgan Chase & Co. lowered their price objective on shares of Navient from $10.50 to $8.50 and set a “neutral” rating for the company in a report on Thursday, April 9th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Navient in a research note on Wednesday, June 24th. Barclays increased their target price on shares of Navient from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Thursday, April 30th. Finally, Morgan Stanley decreased their target price on shares of Navient from $12.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 16th. Five equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $9.21.

Navient Price Performance

NASDAQ NAVI traded up $0.03 during trading hours on Tuesday, reaching $8.41. 102,775 shares of the stock traded hands, compared to its average volume of 1,090,367. The company has a debt-to-equity ratio of 16.49, a current ratio of 7.67 and a quick ratio of 7.67. The stock has a 50 day simple moving average of $8.35 and a two-hundred day simple moving average of $9.46. Navient has a 1 year low of $7.33 and a 1 year high of $16.07. The company has a market cap of $790.93 million, a price-to-earnings ratio of -13.35 and a beta of 1.19.

Navient (NASDAQ:NAVI) last announced its quarterly earnings data on Tuesday, April 28th. The credit services provider reported $0.20 EPS for the quarter, beating the consensus estimate of $0.17 by $0.03. The firm had revenue of $152.00 million for the quarter, compared to analyst estimates of $141.47 million. Navient had a positive return on equity of 4.39% and a negative net margin of 1.94%.During the same period in the prior year, the company earned $0.25 EPS. On average, analysts predict that Navient will post 0.7 EPS for the current fiscal year.

Institutional Trading of Navient

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Versant Capital Management Inc boosted its stake in shares of Navient by 552.6% during the second quarter. Versant Capital Management Inc now owns 4,855 shares of the credit services provider’s stock valued at $41,000 after purchasing an additional 4,111 shares during the period. Parallel Advisors LLC grew its holdings in shares of Navient by 325.6% in the first quarter. Parallel Advisors LLC now owns 5,005 shares of the credit services provider’s stock worth $41,000 after purchasing an additional 3,829 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Navient by 685.3% in the first quarter. Bank of America Corp DE now owns 1,243,764 shares of the credit services provider’s stock worth $10,174,000 after purchasing an additional 1,085,380 shares during the last quarter. Quantinno Capital Management LP increased its stake in shares of Navient by 51.4% in the first quarter. Quantinno Capital Management LP now owns 85,767 shares of the credit services provider’s stock worth $702,000 after buying an additional 29,108 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Navient in the first quarter worth $72,000. Institutional investors own 97.14% of the company’s stock.

Navient Company Profile

Navient Corporation (NASDAQ: NAVI) is a specialized provider of asset management and business processing solutions, with a primary focus on student loan servicing. Established in 2014 through the separation from Sallie Mae, Navient assumed responsibility for servicing federal and private education loans, positioning itself as one of the largest servicers of higher education debt in the United States.

The company’s core activities center on federal student loan servicing under contracts with the U.S.