Navient’s (NAVI) Hold Rating Reiterated at Jefferies Group

Navient (NASDAQ:NAVI)‘s stock had its “hold” rating restated by analysts at Jefferies Group in a research note issued on Thursday. They presently have a $14.00 target price on the credit services provider’s stock. Jefferies Group’s price objective points to a potential upside of 2.34% from the company’s current price.

NAVI has been the topic of a number of other research reports. Credit Suisse Group lowered their price objective on shares of Navient from $16.50 to $16.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 4th. Compass Point downgraded shares of Navient from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $16.50 to $15.50 in a research report on Thursday, October 5th. Zacks Investment Research upgraded shares of Navient from a “sell” rating to a “hold” rating in a research report on Wednesday, September 13th. Oppenheimer assumed coverage on shares of Navient in a research report on Monday. They set a “hold” rating on the stock. Finally, UBS Group assumed coverage on shares of Navient in a research report on Monday. They set a “market perform” rating on the stock. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. Navient presently has an average rating of “Hold” and an average target price of $17.50.

Shares of Navient (NASDAQ:NAVI) opened at $13.68 on Thursday. Navient has a fifty-two week low of $11.48 and a fifty-two week high of $17.05. The company has a current ratio of 33.10, a quick ratio of 33.10 and a debt-to-equity ratio of 30.58. The company has a market cap of $3,620.00, a P/E ratio of 7.52 and a beta of 2.33.

Navient (NASDAQ:NAVI) last posted its quarterly earnings results on Tuesday, October 17th. The credit services provider reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.05. Navient had a net margin of 10.88% and a return on equity of 14.09%. The firm had revenue of $343.00 million for the quarter, compared to analysts’ expectations of $361.33 million. During the same quarter in the prior year, the company posted $0.50 earnings per share. The business’s revenue for the quarter was down 15.3% on a year-over-year basis. sell-side analysts forecast that Navient will post 1.76 EPS for the current year.

Navient declared that its board has authorized a stock buyback program on Wednesday, October 4th that allows the company to repurchase outstanding shares. This repurchase authorization allows the credit services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

In other Navient news, CFO Christian M. Lown purchased 6,000 shares of the firm’s stock in a transaction on Friday, October 20th. The shares were acquired at an average cost of $12.35 per share, for a total transaction of $74,100.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.68% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in shares of Navient by 1.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,130,065 shares of the credit services provider’s stock valued at $152,017,000 after purchasing an additional 113,420 shares during the period. Prudential Financial Inc. raised its position in shares of Navient by 3.4% during the 3rd quarter. Prudential Financial Inc. now owns 5,888,964 shares of the credit services provider’s stock valued at $88,452,000 after purchasing an additional 192,614 shares during the period. Alps Advisors Inc. raised its position in shares of Navient by 9.4% during the 3rd quarter. Alps Advisors Inc. now owns 3,353,227 shares of the credit services provider’s stock valued at $50,365,000 after purchasing an additional 287,007 shares during the period. JPMorgan Chase & Co. raised its position in shares of Navient by 75.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,443,684 shares of the credit services provider’s stock valued at $40,687,000 after purchasing an additional 1,054,580 shares during the period. Finally, Parametric Portfolio Associates LLC raised its position in shares of Navient by 56.4% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 2,304,386 shares of the credit services provider’s stock valued at $38,368,000 after purchasing an additional 831,209 shares during the period. Hedge funds and other institutional investors own 92.67% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Navient’s (NAVI) Hold Rating Reiterated at Jefferies Group” was originally posted by Community Financial News and is the property of of Community Financial News. If you are reading this story on another domain, it was illegally copied and republished in violation of international copyright and trademark laws. The legal version of this story can be viewed at https://www.com-unik.info/2018/01/11/navients-navi-hold-rating-reiterated-at-jefferies-group.html.

Navient Company Profile

Navient Corporation provides asset management and business processing services to education, healthcare and government clients at the federal, state and local levels. The Company holds the portfolio of education loans insured or federally guaranteed under the Federal Family Education Loan Program (FFELP).

Analyst Recommendations for Navient (NASDAQ:NAVI)

Receive News & Ratings for Navient Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Navient and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit