Navistar International Corporation (NAV) Raised to “Buy” at Zacks Investment Research

Navistar International Corporation (NYSE:NAV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm currently has a $49.00 price objective on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 13.06% from the stock’s current price.

According to Zacks, “The Zacks Consensus Estimate for Navistar’s quarterly earnings estimate has been going up of late. The company increased its truck segment sales, boosting its revenue. It is also focusing on the launch of new products and making strategic alliances with other companies like Volkswagen, thereby expecting to improve its scale and competitiveness. The company is also positioned to benefit from cost-saving initiatives like engine restructuring and reductions in discretionary spending. Moreover, in the last three months, Navistar has outperformed in the industry it belongs to.”

A number of other brokerages have also recently issued reports on NAV. Wells Fargo & Company upped their target price on Navistar International Corporation from $41.00 to $45.00 and gave the company a “market perform” rating in a research report on Friday. Jefferies Group LLC reissued a “buy” rating and issued a $47.00 target price on shares of Navistar International Corporation in a research report on Tuesday, September 26th. Aegis reissued a “buy” rating and issued a $50.00 target price (up from $45.00) on shares of Navistar International Corporation in a research report on Tuesday, September 26th. UBS AG reissued a “neutral” rating and issued a $39.00 target price (up from $31.00) on shares of Navistar International Corporation in a research report on Monday, September 18th. Finally, Deutsche Bank AG upped their target price on Navistar International Corporation from $26.00 to $36.00 and gave the company a “hold” rating in a research report on Thursday, September 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $36.08.

Navistar International Corporation (NYSE:NAV) traded up 0.30% during midday trading on Tuesday, hitting $43.47. The company had a trading volume of 173,141 shares. Navistar International Corporation has a 12 month low of $21.94 and a 12 month high of $45.47. The company’s market cap is $4.27 billion. The firm has a 50-day moving average price of $38.45 and a 200-day moving average price of $30.18.

Navistar International Corporation (NYSE:NAV) last announced its earnings results on Wednesday, September 6th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.09. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.17 billion. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the company earned ($0.42) earnings per share. Equities analysts anticipate that Navistar International Corporation will post ($0.55) EPS for the current year.

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In related news, major shareholder Truck & Bus Gmbh Volkswagen acquired 158,026 shares of the firm’s stock in a transaction on Wednesday, July 19th. The stock was bought at an average cost of $29.18 per share, with a total value of $4,611,198.68. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have acquired a total of 499,781 shares of company stock valued at $14,693,815 over the last ninety days. 21.80% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Proxima Capital Management LLC lifted its holdings in shares of Navistar International Corporation by 7.5% in the 2nd quarter. Proxima Capital Management LLC now owns 215,000 shares of the company’s stock valued at $5,639,000 after buying an additional 15,000 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in shares of Navistar International Corporation by 10.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,367 shares of the company’s stock valued at $115,000 after buying an additional 430 shares during the period. Castleark Management LLC acquired a new stake in shares of Navistar International Corporation in the 2nd quarter valued at approximately $6,176,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Navistar International Corporation by 2.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,180 shares of the company’s stock valued at $1,054,000 after buying an additional 1,086 shares during the period. Finally, State Street Corp lifted its holdings in shares of Navistar International Corporation by 2.5% in the 2nd quarter. State Street Corp now owns 1,012,715 shares of the company’s stock valued at $26,565,000 after buying an additional 25,176 shares during the period. 84.04% of the stock is owned by institutional investors and hedge funds.

Navistar International Corporation Company Profile

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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