Zacks Investment Research Downgrades Navistar International Corporation (NAV) to Strong Sell

Navistar International Corporation (NYSE:NAV) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday, August 8th.

According to Zacks, “For fiscal 2017, Navistar expects a decline in Class 6–8 retail deliveries in the U.S. and Canada. The demand for company’s core trucks is also witnessing a downtrend, which will negatively impact the revenues of its truck segment. Other concerns faced by Navistar include economic uncertainties in Brazil and lower volumes. Moreover, adhering to the fuel emission regulations for the production of 2017 models will result in increased manufacturing costs of engines and vehicles. Also, year-to-date, its shares have underperformed against the industry it belongs to.”

Several other equities analysts also recently weighed in on NAV. BidaskClub raised Navistar International Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 5th. Piper Jaffray Companies reissued a “hold” rating and set a $27.00 target price on shares of Navistar International Corporation in a research report on Thursday, August 3rd. Jefferies Group LLC reissued a “buy” rating and set a $35.00 target price on shares of Navistar International Corporation in a research report on Friday, July 21st. Royal Bank Of Canada reissued a “hold” rating and set a $31.00 target price on shares of Navistar International Corporation in a research report on Wednesday, July 12th. Finally, UBS AG reissued a “neutral” rating and set a $31.00 target price (up previously from $29.00) on shares of Navistar International Corporation in a research report on Sunday, June 11th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $27.29.

Navistar International Corporation (NAV) traded down 0.16% during mid-day trading on Tuesday, hitting $30.35. The stock had a trading volume of 500,076 shares. The stock’s market cap is $2.98 billion. The stock’s 50-day moving average price is $29.55 and its 200-day moving average price is $27.25. Navistar International Corporation has a 12 month low of $13.30 and a 12 month high of $33.46.

Navistar International Corporation (NYSE:NAV) last released its quarterly earnings data on Wednesday, June 7th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.08) by $0.65. The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same quarter last year, the firm posted $0.05 earnings per share. Navistar International Corporation’s revenue was down 4.6% on a year-over-year basis. On average, analysts predict that Navistar International Corporation will post ($0.77) earnings per share for the current year.

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In other news, major shareholder Truck & Bus Gmbh Volkswagen bought 43,501 shares of the stock in a transaction on Monday, July 17th. The stock was acquired at an average cost of $29.25 per share, for a total transaction of $1,272,404.25. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders acquired a total of 434,864 shares of company stock worth $12,752,006 in the last ninety days. 21.80% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of Navistar International Corporation by 121.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 251,663 shares of the company’s stock valued at $7,895,000 after buying an additional 138,236 shares in the last quarter. Guggenheim Capital LLC purchased a new stake in shares of Navistar International Corporation during the fourth quarter valued at $206,000. AQR Capital Management LLC purchased a new stake in shares of Navistar International Corporation during the fourth quarter valued at $1,002,000. Teachers Advisors LLC boosted its stake in shares of Navistar International Corporation by 3.5% in the fourth quarter. Teachers Advisors LLC now owns 86,425 shares of the company’s stock valued at $2,711,000 after buying an additional 2,961 shares in the last quarter. Finally, Sanders Morris Harris Inc. purchased a new stake in shares of Navistar International Corporation during the first quarter valued at $1,999,000. Institutional investors and hedge funds own 82.37% of the company’s stock.

About Navistar International Corporation

Navistar International Corporation is a holding company whose principal operating entities are Navistar, Inc and Navistar Financial Corporation (NFC). The Company’s segments include Truck, Parts, Global Operations (collectively, Manufacturing operations) and Financial Services, which consists of NFC and its foreign finance operations (collectively, Financial Services operations).

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