Navistar International (NYSE:NAV) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “The Zacks Consensus Estimate for Navistar’s first-quarter 2019 earnings has moved downHigh costs owing to premium freight and commodity prices are concerns. Additionally, costs to improve position and make ongoing changes in the on-highway emissions standards is another headwind that might hamper the company’s profit margin. However, new product launches across Class 4/5 and Class 6/8 markets might attract customers, thus, driving revenues.”
NAV has been the subject of a number of other research reports. Goldman Sachs Group cut Navistar International from a “neutral” rating to a “sell” rating and lowered their target price for the company from $43.00 to $23.00 in a research note on Monday, December 10th. ValuEngine cut Navistar International from a “hold” rating to a “sell” rating in a research note on Wednesday, December 5th. Loop Capital upgraded Navistar International from a “hold” rating to a “buy” rating in a research note on Thursday, December 6th. Robert W. Baird raised their target price on Navistar International from $53.00 to $54.00 and gave the company an “outperform” rating in a research note on Wednesday, December 19th. Finally, Wells Fargo & Co lowered their target price on Navistar International from $42.00 to $30.00 and set a “market perform” rating for the company in a research note on Wednesday, December 19th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $41.21.
Navistar International (NYSE:NAV) last released its earnings results on Tuesday, December 18th. The company reported $1.89 EPS for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.21. The company had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $3.24 billion. Navistar International had a negative return on equity of 7.75% and a net margin of 3.32%. The firm’s revenue for the quarter was up 27.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.36 EPS. As a group, analysts expect that Navistar International will post 3.62 earnings per share for the current year.
In related news, Director Stephen R. D’arcy acquired 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 transaction, the director now directly owns 3,383 shares in the company, valued at $90,292.27. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 18.10% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Navistar International by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 4,525,673 shares of the company’s stock valued at $174,238,000 after buying an additional 68,464 shares in the last quarter. Vanguard Group Inc increased its holdings in shares of Navistar International by 1.5% in the 3rd quarter. Vanguard Group Inc now owns 4,525,673 shares of the company’s stock worth $174,238,000 after purchasing an additional 68,464 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Navistar International by 13.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,414,220 shares of the company’s stock worth $36,699,000 after purchasing an additional 162,543 shares in the last quarter. Ardevora Asset Management LLP increased its holdings in shares of Navistar International by 52.6% in the 4th quarter. Ardevora Asset Management LLP now owns 1,366,542 shares of the company’s stock worth $35,462,000 after purchasing an additional 471,300 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Navistar International by 1,317.3% in the 3rd quarter. Victory Capital Management Inc. now owns 809,919 shares of the company’s stock worth $31,183,000 after purchasing an additional 752,772 shares in the last quarter. 78.78% 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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