Navient (NASDAQ:NAVI) Downgraded to “Strong Sell” at ValuEngine

ValuEngine downgraded shares of Navient (NASDAQ:NAVI) from a sell rating to a strong sell rating in a research note issued to investors on Thursday, ValuEngine reports.

A number of other equities research analysts have also recently commented on NAVI. BMO Capital Markets set a $17.00 price objective on Navient and gave the company a hold rating in a research note on Friday, July 26th. Barclays raised their price objective on Navient from $14.00 to $17.00 and gave the company a positive rating in a research note on Thursday, July 25th. They noted that the move was a valuation call. BidaskClub raised Navient from a hold rating to a buy rating in a research note on Friday, July 19th. JPMorgan Chase & Co. raised Navient from a neutral rating to an overweight rating and raised their price objective for the company from $12.50 to $14.50 in a research note on Thursday, April 25th. Finally, Wedbush cut Navient from an outperform rating to a neutral rating in a research note on Thursday, July 25th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $15.67.

NASDAQ NAVI traded down $0.25 during trading hours on Thursday, hitting $13.71. 1,174,932 shares of the company’s stock were exchanged, compared to its average volume of 2,244,586. The firm has a 50-day moving average of $13.66. Navient has a 1-year low of $8.23 and a 1-year high of $15.67. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of 6.56, a price-to-earnings-growth ratio of 1.93 and a beta of 2.12. The company has a current ratio of 13.85, a quick ratio of 12.43 and a debt-to-equity ratio of 26.20.

Navient (NASDAQ:NAVI) last released its earnings results on Tuesday, July 23rd. The credit services provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.54 by $0.20. Navient had a return on equity of 16.82% and a net margin of 8.14%. The business had revenue of $296.00 million during the quarter, compared to analysts’ expectations of $296.50 million. During the same quarter last year, the firm posted $0.52 earnings per share. The firm’s revenue was down 7.2% on a year-over-year basis. As a group, equities research analysts forecast that Navient will post 2.45 EPS for the current year.

In other Navient news, major shareholder Canyon Capital Advisors Llc sold 3,500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $14.95, for a total value of $52,325,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Stephen M. Hauber sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $13.63, for a total value of $122,670.00. The disclosure for this sale can be found here. Company insiders own 1.85% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Strs Ohio boosted its position in shares of Navient by 6.6% during the second quarter. Strs Ohio now owns 26,057 shares of the credit services provider’s stock valued at $355,000 after buying an additional 1,619 shares during the last quarter. Intrust Bank NA boosted its position in shares of Navient by 6.8% during the first quarter. Intrust Bank NA now owns 32,323 shares of the credit services provider’s stock valued at $374,000 after buying an additional 2,051 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Navient by 3.7% during the second quarter. Envestnet Asset Management Inc. now owns 62,093 shares of the credit services provider’s stock valued at $848,000 after buying an additional 2,229 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services boosted its position in shares of Navient by 11.6% during the second quarter. First National Bank of Mount Dora Trust Investment Services now owns 22,412 shares of the credit services provider’s stock valued at $306,000 after buying an additional 2,325 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in shares of Navient by 4.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 58,806 shares of the credit services provider’s stock valued at $518,000 after buying an additional 2,461 shares during the last quarter. 94.32% of the stock is currently owned by institutional investors.

About Navient

Navient Corporation provides education loan management and business processing solutions for education, healthcare, and government clients at the federal, state, and local levels in the United States. It operates in three segments: Federal Education Loans, Consumer Lending, and Business Processing. The company holds and acquires Federal Family Education Loan Program loans that are insured or guaranteed by state or not-for-profit agencies; and performs servicing and asset recovery services on its own loan portfolio, and federal education loans owned by the United States Department of Education and other institutions.

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