Jefferies Group LLC Reaffirms Buy Rating for Navistar International Corp (NAV)

Navistar International Corp (NYSE:NAV)‘s stock had its “buy” rating reissued by Jefferies Group LLC in a research report issued on Thursday. They presently have a $35.00 price target on the stock. Jefferies Group LLC’s price target indicates a potential upside of 37.52% from the stock’s current price.

A number of other research firms have also issued reports on NAV. Zacks Investment Research lowered Navistar International Corp from a “buy” rating to a “hold” rating in a research note on Thursday, December 22nd. BMO Capital Markets reiterated a “market perform” rating on shares of Navistar International Corp in a research note on Tuesday, December 27th. Deutsche Bank AG reiterated a “hold” rating and set a $32.00 price objective (up from $21.00) on shares of Navistar International Corp in a research note on Friday, December 23rd. Aegis assumed coverage on Navistar International Corp in a research note on Friday, December 23rd. They issued a “buy” rating and a $36.00 target price on the stock. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $28.00 target price (up from $21.00) on shares of Navistar International Corp in a research note on Wednesday, December 21st. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $22.42.

Analyst Recommendations for Navistar International Corp (NYSE:NAV)

Navistar International Corp (NYSE:NAV) opened at 25.45 on Thursday. Navistar International Corp has a 12 month low of $10.30 and a 12 month high of $33.46. The company’s 50-day moving average is $25.37 and its 200 day moving average is $27.02. The company’s market cap is $2.50 billion.

Navistar International Corp (NYSE:NAV) last released its quarterly earnings data on Tuesday, March 7th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by $0.33. The company earned $1.66 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter last year, the firm posted ($0.40) EPS. The business’s revenue for the quarter was down 5.8% compared to the same quarter last year. Equities analysts forecast that Navistar International Corp will post ($0.13) earnings per share for the current fiscal year.

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In related news, major shareholder Carl C. Icahn acquired 423,404 shares of Navistar International Corp stock in a transaction that occurred on Friday, March 10th. The stock was bought at an average price of $25.58 per share, with a total value of $10,830,674.32. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Carl C. Icahn acquired 34,032 shares of Navistar International Corp stock in a transaction that occurred on Tuesday, March 14th. The shares were bought at an average cost of $25.77 per share, with a total value of $877,004.64. The disclosure for this purchase can be found here. 21.80% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Pacad Investment Ltd. bought a new position in Navistar International Corp during the fourth quarter worth $180,000. Guggenheim Capital LLC acquired a new stake in Navistar International Corp during the fourth quarter worth approximately $206,000. Boothbay Fund Management LLC acquired a new stake in Navistar International Corp during the fourth quarter worth approximately $277,000. Aperio Group LLC raised its stake in Navistar International Corp by 10.7% in the third quarter. Aperio Group LLC now owns 22,830 shares of the company’s stock worth $523,000 after buying an additional 2,210 shares during the last quarter. Finally, Numeric Investors LLC acquired a new stake in Navistar International Corp during the fourth quarter worth approximately $759,000.

Navistar International Corp 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).

5 Day Chart for NYSE:NAV

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