BidaskClub upgraded shares of Navistar International Corporation (NYSE:NAV) from a hold rating to a buy rating in a research report released on Saturday morning.
Several other research firms have also weighed in on NAV. UBS AG reiterated a neutral rating and set a $31.00 target price (up from $29.00) on shares of Navistar International Corporation in a report on Sunday, June 11th. Royal Bank Of Canada reiterated a hold rating and set a $28.00 target price on shares of Navistar International Corporation in a report on Tuesday, May 9th. Jefferies Group LLC reiterated a buy rating and set a $35.00 target price on shares of Navistar International Corporation in a report on Friday, July 21st. Robert W. Baird upgraded Navistar International Corporation from a neutral rating to an outperform rating and lifted their target price for the stock from $32.00 to $33.00 in a report on Monday, June 5th. Finally, Stifel Nicolaus reiterated a hold rating and set a $26.00 target price (up from $24.00) on shares of Navistar International Corporation in a report on Friday, June 9th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $27.29.
Shares of Navistar International Corporation (NAV) opened at 31.38 on Friday. The company has a 50-day moving average price of $28.17 and a 200 day moving average price of $27.08. Navistar International Corporation has a 52 week low of $12.53 and a 52 week high of $33.46. The stock’s market capitalization is $3.08 billion.
Navistar International Corporation (NYSE:NAV) last posted its earnings results on Wednesday, June 7th. The company reported ($0.73) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by $0.65. The business had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.08 billion. The company’s quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.05 EPS. Analysts forecast that Navistar International Corporation will post ($0.72) earnings per share for the current fiscal year.
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In related news, major shareholder Truck & Bus Gmbh Volkswagen bought 24,800 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were acquired at an average price of $29.95 per share, for a total transaction of $742,760.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased 434,864 shares of company stock worth $12,752,006 in the last quarter. 21.80% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. Virginia Retirement Systems ET AL bought a new stake in Navistar International Corporation during the first quarter valued at about $327,000. Engineers Gate Manager LP bought a new stake in Navistar International Corporation during the first quarter valued at about $600,000. Ardevora Asset Management LLP raised its stake in Navistar International Corporation by 10.3% in the first quarter. Ardevora Asset Management LLP now owns 1,030,400 shares of the company’s stock valued at $25,368,000 after buying an additional 96,000 shares during the last quarter. Karp Capital Management Corp bought a new stake in Navistar International Corporation during the first quarter valued at about $570,000. Finally, First Trust Advisors LP raised its stake in Navistar International Corporation by 44.6% in the first quarter. First Trust Advisors LP now owns 268,537 shares of the company’s stock valued at $6,611,000 after buying an additional 82,866 shares during the last quarter. Institutional investors and hedge funds own 82.35% of the company’s stock.
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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