Barclays Has Lowered Expectations for Navient (NASDAQ:NAVI) Stock Price

Navient (NASDAQ:NAVI) had its price target lowered by Barclays from $7.00 to $6.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “underweight” rating on the credit services provider’s stock. Barclays‘s price objective indicates a potential downside of 32.14% from the company’s previous close.

Several other analysts have also recently weighed in on NAVI. JPMorgan Chase & Co. lifted their price target on Navient from $8.00 to $8.50 and gave the stock a “neutral” rating in a report on Monday, October 12th. TD Cowen reaffirmed a “sell” rating on shares of Navient in a research note on Friday, August 7th. Zacks Research upgraded Navient from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 12th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Navient in a research report on Monday, September 21st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $8.00.

Navient Stock Down 2.5%

Shares of NASDAQ:NAVI traded down $0.23 during trading on Thursday, hitting $8.84. 1,083,535 shares of the company’s stock traded hands, compared to its average volume of 1,166,564. The company has a current ratio of 10.53, a quick ratio of 10.53 and a debt-to-equity ratio of 16.73. The company has a market cap of $829.24 million, a price-to-earnings ratio of -17.56 and a beta of 1.17. The company has a 50-day moving average price of $9.20 and a 200-day moving average price of $8.91. Navient has a 52 week low of $7.33 and a 52 week high of $13.48.

Navient (NASDAQ:NAVI) last posted its quarterly earnings data on Wednesday, November 4th. The credit services provider reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.10). The firm had revenue of $308.00 million for the quarter, compared to the consensus estimate of $144.92 million. Navient had a positive return on equity of 4.68% and a negative net margin of 1.64%. During the same quarter in the previous year, the business posted ($0.84) earnings per share. As a group, research analysts forecast that Navient will post 0.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Navient

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in Navient in the second quarter worth approximately $110,235,000. Wellington Management Group LLP grew its position in shares of Navient by 41.5% in the 2nd quarter. Wellington Management Group LLP now owns 1,939,380 shares of the credit services provider’s stock worth $16,504,000 after buying an additional 568,590 shares during the period. Bank of America Corp DE bought a new position in shares of Navient during the second quarter valued at $11,989,000. Squarepoint Ops LLC raised its holdings in Navient by 145.9% in the 2nd quarter. Squarepoint Ops LLC now owns 939,099 shares of the credit services provider’s stock worth $7,992,000 after acquiring an additional 557,141 shares during the last quarter. Finally, PDT Partners LLC bought a new position in shares of Navient during the second quarter valued at $4,435,000. 97.14% of the stock is currently owned by institutional investors.

Navient Company Profile

Navient Corp. (NASDAQ:NAVI) is a financial services company that provides education finance and business-processing solutions. The company has historically serviced and managed federal and private student loans, helping borrowers with account administration, repayment processing, customer support and related loan-management services.

Navient’s operations have evolved as the company reduced its role in servicing federally owned student loans. In 2021, it transferred its federal student loan servicing portfolio to Aidvantage, a division of Maximus.