Navient (NASDAQ:NAVI) Price Target Cut to $10.00

Navient (NASDAQ:NAVIGet Free Report) had its target price cut by equities researchers at Barclays from $11.00 to $10.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has an “underweight” rating on the credit services provider’s stock. Barclays‘s target price indicates a potential downside of 28.98% from the stock’s current price.

Several other analysts also recently issued reports on the company. Keefe, Bruyette & Woods cut their price target on Navient from $17.00 to $15.00 and set a “market perform” rating on the stock in a report on Monday. TD Cowen cut their target price on Navient from $14.00 to $13.00 and set a “sell” rating on the stock in a research note on Friday, April 26th. Finally, JPMorgan Chase & Co. cut their target price on Navient from $16.00 to $15.00 and set a “neutral” rating on the stock in a research note on Monday. Three equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $15.70.

Check Out Our Latest Stock Analysis on NAVI

Navient Trading Down 0.1 %

Shares of NASDAQ NAVI opened at $14.08 on Tuesday. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 9.03 and a beta of 1.40. Navient has a 12-month low of $13.95 and a 12-month high of $19.69. The company has a current ratio of 12.52, a quick ratio of 12.52 and a debt-to-equity ratio of 18.38. The stock’s 50 day simple moving average is $14.81 and its 200 day simple moving average is $16.15.

Navient (NASDAQ:NAVIGet Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The credit services provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. The business had revenue of $163.00 million for the quarter, compared to the consensus estimate of $188.04 million. Navient had a return on equity of 12.09% and a net margin of 3.93%. Equities research analysts expect that Navient will post 1.65 EPS for the current year.

Insider Activity

In other news, EVP Mark L. Heleen sold 10,000 shares of Navient stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $16.00, for a total transaction of $160,000.00. Following the transaction, the executive vice president now directly owns 393,611 shares in the company, valued at approximately $6,297,776. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 27.99% of the stock is owned by insiders.

Hedge Funds Weigh In On Navient

Several hedge funds have recently modified their holdings of NAVI. Donald Smith & CO. Inc. increased its position in shares of Navient by 31.5% during the 4th quarter. Donald Smith & CO. Inc. now owns 3,586,501 shares of the credit services provider’s stock valued at $66,781,000 after purchasing an additional 858,890 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in shares of Navient in the 4th quarter worth $13,546,000. Jupiter Asset Management Ltd. acquired a new position in shares of Navient in the 1st quarter worth $4,813,000. Edgestream Partners L.P. grew its holdings in shares of Navient by 90.9% in the 1st quarter. Edgestream Partners L.P. now owns 386,379 shares of the credit services provider’s stock worth $6,723,000 after acquiring an additional 183,969 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Navient by 207.8% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 231,186 shares of the credit services provider’s stock worth $4,320,000 after acquiring an additional 156,086 shares during the last quarter. 97.14% of the stock is currently owned by institutional investors and hedge funds.

Navient Company Profile

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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.

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