Navient (NASDAQ:NAVI) Price Target Lowered to $16.00 at Bank of America

Navient (NASDAQ:NAVI) had its target price cut by analysts at Bank of America from $17.00 to $16.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the credit services provider’s stock. Bank of America‘s target price indicates a potential upside of 18.34% from the stock’s previous close.

A number of other analysts also recently issued reports on NAVI. StockNews.com upgraded shares of Navient from a “hold” rating to a “buy” rating in a report on Friday, November 1st. JPMorgan Chase & Co. cut their target price on Navient from $15.50 to $15.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. TD Cowen lowered their price target on Navient from $14.00 to $13.00 and set a “sell” rating for the company in a report on Friday, November 1st. Finally, Barclays raised their price objective on Navient from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 8th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $15.50.

Navient Trading Up 2.1 %

Navient stock traded up $0.28 during trading on Tuesday, reaching $13.52. 867,754 shares of the company were exchanged, compared to its average volume of 809,185. The stock’s 50 day simple moving average is $15.03 and its two-hundred day simple moving average is $15.16. The company has a market capitalization of $1.45 billion, a P/E ratio of 19.59 and a beta of 1.40. The company has a debt-to-equity ratio of 16.59, a current ratio of 9.49 and a quick ratio of 9.49. Navient has a 52-week low of $13.19 and a 52-week high of $19.25.

Navient (NASDAQ:NAVI) last announced its quarterly earnings results on Wednesday, October 30th. The credit services provider reported $1.45 earnings per share for the quarter, beating the consensus estimate of $0.25 by $1.20. Navient had a net margin of 1.71% and a return on equity of 8.62%. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $150.04 million. During the same quarter in the previous year, the company posted $0.84 EPS. On average, equities research analysts expect that Navient will post 2.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Stephen M. Hauber sold 10,000 shares of Navient stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $15.00, for a total value of $150,000.00. Following the completion of the transaction, the executive vice president now owns 256,883 shares in the company, valued at approximately $3,853,245. The trade was a 3.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 27.99% of the company’s stock.

Hedge Funds Weigh In On Navient

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. KBC Group NV raised its stake in shares of Navient by 47.0% in the third quarter. KBC Group NV now owns 4,355 shares of the credit services provider’s stock valued at $68,000 after acquiring an additional 1,392 shares in the last quarter. Signaturefd LLC increased its holdings in Navient by 22.1% during the 2nd quarter. Signaturefd LLC now owns 4,797 shares of the credit services provider’s stock worth $70,000 after purchasing an additional 869 shares during the period. nVerses Capital LLC acquired a new stake in Navient in the 3rd quarter valued at about $87,000. Harbor Capital Advisors Inc. purchased a new position in shares of Navient in the 3rd quarter valued at about $95,000. Finally, Covestor Ltd grew its position in shares of Navient by 24.6% during the third quarter. Covestor Ltd now owns 7,360 shares of the credit services provider’s stock worth $115,000 after buying an additional 1,455 shares in the last quarter. Hedge funds and other institutional investors own 97.14% of the company’s stock.

About Navient

Navient Corporation provides technology-enabled education finance and business processing solutions for education, health care, and government clients in the United States. It operates through three segments: Federal Education Loans, Consumer Lending, and Business Processing. The company owns Federal Family Education Loan Program (FFELP) loans that are insured or guaranteed by state or not-for-profit agencies; and performs servicing on its portfolios, as well as federal education loans held by other institutions.