Zacks Investment Research cut shares of Navistar International Corporation (NYSE:NAV) from a hold rating to a sell rating in a report published on Wednesday, July 19th.
According to Zacks, “Navistar has underperformed the Zacks categorized Auto/Truck Original Equipment industry over the past six months. The demand for the company’s Core trucks has been declining, which is negatively impacting the Truck segment revenues. Also, Navistar’s results have been affected by lower volumes in Brazil, resulting from economic uncertainties. Moreover, increase in costs, primarily due to changes in fuel emission standards, are some palpable concerns for Navistar. The company has projected a decline in Class 6–8 retail sale in the U.S. and Canada, which is expected to have a negative influence in the Truck segment’s revenue.”
Several other equities research analysts have also recently weighed in on the company. Robert W. Baird raised Navistar International Corporation from a neutral rating to an outperform rating and increased their price objective for the company from $32.00 to $33.00 in a research report on Monday, June 5th. Jefferies Group LLC reissued a buy rating and issued a $35.00 price objective on shares of Navistar International Corporation in a research report on Thursday, April 6th. Barclays PLC reissued a sell rating and issued a $20.00 price objective on shares of Navistar International Corporation in a research report on Thursday, June 8th. Royal Bank Of Canada restated a hold rating and issued a $28.00 target price on shares of Navistar International Corporation in a research note on Tuesday, May 9th. Finally, BidaskClub lowered Navistar International Corporation from a hold rating to a sell rating in a research note on Friday, June 23rd. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. Navistar International Corporation currently has an average rating of Hold and an average price target of $27.31.
Navistar International Corporation (NAV) traded down 0.23% during trading on Wednesday, reaching $30.52. 329,569 shares of the company were exchanged. The stock has a 50 day moving average price of $27.92 and a 200 day moving average price of $27.05. Navistar International Corporation has a 12 month low of $11.59 and a 12 month high of $33.46. The firm’s market capitalization is $3.00 billion.
Navistar International Corporation (NYSE:NAV) last posted its quarterly earnings data on Wednesday, June 7th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.08) by $0.65. The firm had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same period last year, the company earned $0.05 earnings per share. The company’s revenue for the quarter was down 4.6% compared to the same quarter last year. On average, analysts expect that Navistar International Corporation will post ($0.72) EPS for the current fiscal year.
In other news, major shareholder Truck & Bus Gmbh Volkswagen purchased 24,750 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The shares were acquired at an average price of $29.72 per share, for a total transaction of $735,570.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders purchased 385,164 shares of company stock worth $11,263,491. 21.80% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in NAV. FNY Partners Fund LP purchased a new stake in shares of Navistar International Corporation during the first quarter worth about $123,000. Creative Planning raised its stake in shares of Navistar International Corporation by 7.7% in the second quarter. Creative Planning now owns 5,464 shares of the company’s stock worth $143,000 after buying an additional 389 shares in the last quarter. Guggenheim Capital LLC purchased a new stake in shares of Navistar International Corporation during the fourth quarter worth about $206,000. Bank of Montreal Can raised its stake in shares of Navistar International Corporation by 88.5% in the second quarter. Bank of Montreal Can now owns 8,659 shares of the company’s stock worth $228,000 after buying an additional 4,065 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its stake in shares of Navistar International Corporation by 2.3% in the first quarter. Oppenheimer & Co. Inc. now owns 11,720 shares of the company’s stock worth $289,000 after buying an additional 264 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors.
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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