Navistar International (NYSE:NAV) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “In first-quarter 2019, Navistar reported earnings per share of 11 cents, in line with the Zacks Consensus Estimate. The company reported loss of 74 cents per share in the prior-year quarter. During the quarter, revenues beat estimate and improved year over year. This improvement was due to higher volume in the company’s core markets, partly offset by higher material and freight costs and the impact of sales of a majority interest in Navistar Defense. The company anticipates strong demand for Class 6-8 trucks and buses in the United States and Canada to continue in the fiscal, similar to the prior year. Also, the company benefits from the launch of new products, boasting an improved quality and performance. However, high costs owing to premium freight and commodity prices are concerns. Additionally, the ongoing changes in the on-highway emissions standards are another headwind that might hamper the company’s profit margin.”
A number of other analysts also recently commented on the company. ValuEngine downgraded Navistar International from a “sell” rating to a “strong sell” rating in a research note on Monday, December 17th. Goldman Sachs Group downgraded Navistar International from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $43.00 to $23.00 in a research note on Monday, December 10th. Robert W. Baird upped their target price on Navistar International from $53.00 to $54.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 19th. BMO Capital Markets restated a “market perform” rating and issued a $35.00 target price (down previously from $40.00) on shares of Navistar International in a research note on Monday, December 24th. Finally, Loop Capital upgraded Navistar International from a “hold” rating to a “buy” rating in a research note on Thursday, December 6th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. Navistar International presently has a consensus rating of “Hold” and an average target price of $38.73.
Navistar International (NYSE:NAV) last posted its quarterly earnings results on Friday, March 8th. The company reported $0.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.02). Navistar International had a net margin of 3.93% and a negative return on equity of 8.96%. The firm had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter in the previous year, the firm posted ($0.74) EPS. The firm’s revenue for the quarter was up 27.7% compared to the same quarter last year. As a group, equities research analysts forecast that Navistar International will post 3.65 earnings per share for the current year.
In other Navistar International news, Director Stephen R. D’arcy purchased 3,500 shares of Navistar International stock in a transaction that occurred on Thursday, December 20th. The stock was bought at an average price of $26.69 per share, with a total value of $93,415.00. Following the acquisition, the director now owns 3,383 shares of the company’s stock, valued at approximately $90,292.27. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 18.10% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Trexquant Investment LP acquired a new position in Navistar International in the 3rd quarter worth about $990,000. Pearl River Capital LLC acquired a new position in Navistar International in the 4th quarter worth about $58,000. American Century Companies Inc. acquired a new position in Navistar International in the 3rd quarter worth about $6,538,000. Barber Financial Group Inc. acquired a new position in Navistar International in the 4th quarter worth about $639,000. Finally, WINTON GROUP Ltd acquired a new position in Navistar International in the 3rd quarter worth about $260,000. 78.77% of the stock is owned by institutional investors.
Navistar International Company Profile
Navistar International Corporation, through its subsidiaries, manufactures and sells commercial and military trucks, diesel engines, school and commercial buses, and service parts for trucks and diesel engines worldwide. The company operates through four segments: Truck, Parts, Global Operations, and Financial Services.
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