Navistar International Corp. (NYSE:NAV)’s share price reached a new 52-week high during mid-day trading on Tuesday after Jefferies Group raised their price target on the stock from $25.00 to $35.00. Jefferies Group currently has a buy rating on the stock. Navistar International Corp. traded as high as $24.04 and last traded at $22.85, with a volume of 502,266 shares traded. The stock had previously closed at $23.28.
Several other equities analysts have also issued reports on the company. Macquarie lowered Navistar International Corp. from a “neutral” rating to an “underperform” rating and set a $15.00 target price for the company. in a research report on Tuesday, September 6th. Goldman Sachs Group Inc. upgraded Navistar International Corp. from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $18.00 to $20.00 in a research report on Friday, September 9th. Piper Jaffray Cos. lowered Navistar International Corp. from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $14.00 to $11.50 in a research report on Tuesday, June 28th. Royal Bank Of Canada boosted their target price on Navistar International Corp. from $13.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Monday, September 12th. Finally, Deutsche Bank AG initiated coverage on Navistar International Corp. in a report on Tuesday, September 6th. They set a “hold” rating and a $14.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $16.82.
In other Navistar International Corp. news, Director Michael N. Hammes sold 4,000 shares of the company’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $18.71, for a total value of $74,840.00. Following the transaction, the director now directly owns 5,261 shares of the company’s stock, valued at approximately $98,433.31. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 21.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Jacobs Levy Equity Management Inc. raised its position in shares of Navistar International Corp. by 1,823.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 257,277 shares of the company’s stock worth $3,221,000 after buying an additional 243,900 shares in the last quarter. HBK Investments L P purchased a new position in shares of Navistar International Corp. during the first quarter worth approximately $257,000. BlackRock Inc. raised its position in shares of Navistar International Corp. by 93.8% in the first quarter. BlackRock Inc. now owns 11,033 shares of the company’s stock worth $138,000 after buying an additional 5,339 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Navistar International Corp. during the first quarter worth approximately $165,000. Finally, Stanley Capital Management LLC raised its position in shares of Navistar International Corp. by 82.7% in the first quarter. Stanley Capital Management LLC now owns 274,966 shares of the company’s stock worth $3,443,000 after buying an additional 124,500 shares in the last quarter.
The company’s 50-day moving average price is $19.43 and its 200 day moving average price is $14.24. The stock’s market cap is $1.86 billion.
Navistar International Corp. (NYSE:NAV) last announced its quarterly earnings data on Thursday, September 8th. The company reported ($0.42) EPS for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.57. The business earned $2.10 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the previous year, the business earned ($0.37) earnings per share. The business’s revenue for the quarter was down 17.8% on a year-over-year basis. On average, equities research analysts predict that Navistar International Corp. will post ($0.48) earnings per share for the current year.
Navistar International Corp. Company Profile
Navistar International Corporation (NIC) is a holding company, whose principal operating subsidiaries are Navistar, Inc and Navistar Financial Corporation (NFC). The Company is a manufacturer of International brand commercial and military trucks, MaxxForce brand diesel engines, IC Bus (IC) brand school and commercial buses, as well as a provider of service parts for trucks and diesel engines.
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