Navient (NAVI) Coverage Initiated at Oppenheimer

Investment analysts at Oppenheimer started coverage on shares of Navient (NASDAQ:NAVI) in a research note issued on Monday. The firm set a “hold” rating on the credit services provider’s stock.

Several other equities research analysts have also recently weighed in on NAVI. Zacks Investment Research raised Navient from a “sell” rating to a “hold” rating in a research note on Wednesday, September 13th. Credit Suisse Group reduced their price target on Navient from $16.50 to $16.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 4th. Compass Point downgraded Navient from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $16.50 to $15.50 in a report on Thursday, October 5th. Citigroup began coverage on Navient in a report on Monday, October 16th. They issued a “buy” rating and a $20.00 target price on the stock. Finally, Jefferies Group reissued a “hold” rating and issued a $16.00 target price on shares of Navient in a report on Monday, October 16th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. Navient has an average rating of “Hold” and an average target price of $17.70.

Shares of Navient (NASDAQ:NAVI) traded down $0.17 during mid-day trading on Monday, reaching $13.52. The company had a trading volume of 3,381,700 shares, compared to its average volume of 3,002,500. The stock has a market capitalization of $3,620.00, a PE ratio of 7.43 and a beta of 2.33. Navient has a 12 month low of $11.48 and a 12 month high of $17.05. The company has a debt-to-equity ratio of 30.58, a quick ratio of 33.10 and a current ratio of 33.10.

Navient (NASDAQ:NAVI) last issued its quarterly earnings results on Tuesday, October 17th. The credit services provider reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.05. The company had revenue of $343.00 million for the quarter, compared to analysts’ expectations of $361.33 million. Navient had a return on equity of 14.09% and a net margin of 10.88%. The firm’s revenue for the quarter was down 15.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.50 earnings per share. equities research analysts predict that Navient will post 1.76 earnings per share for the current year.

Navient announced that its board has approved a stock buyback program on Wednesday, October 4th that authorizes the company to repurchase outstanding shares. This repurchase authorization authorizes the credit services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

In related news, CFO Christian M. Lown bought 6,000 shares of the company’s stock in a transaction on Friday, October 20th. The shares were acquired at an average cost of $12.35 per share, with a total value of $74,100.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.68% of the company’s stock.

Several large investors have recently made changes to their positions in NAVI. Quantbot Technologies LP bought a new position in shares of Navient during the third quarter valued at $121,000. Advisors Asset Management Inc. lifted its holdings in shares of Navient by 84.0% during the third quarter. Advisors Asset Management Inc. now owns 10,168 shares of the credit services provider’s stock valued at $153,000 after purchasing an additional 4,642 shares in the last quarter. First Midwest Bank Trust Division bought a new position in shares of Navient during the third quarter valued at $175,000. Thrivent Financial For Lutherans lifted its holdings in shares of Navient by 1.0% during the second quarter. Thrivent Financial For Lutherans now owns 10,770 shares of the credit services provider’s stock valued at $179,000 after purchasing an additional 110 shares in the last quarter. Finally, TLP Group LLC lifted its holdings in shares of Navient by 3,174.3% during the second quarter. TLP Group LLC now owns 11,100 shares of the credit services provider’s stock valued at $185,000 after purchasing an additional 10,761 shares in the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

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Navient Company Profile

Navient Corporation provides asset management and business processing services to education, healthcare and government clients at the federal, state and local levels. The Company holds the portfolio of education loans insured or federally guaranteed under the Federal Family Education Loan Program (FFELP).

Analyst Recommendations for Navient (NASDAQ:NAVI)

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