Navient (NASDAQ:NAVI) PT Lowered to $13.00

Navient (NASDAQ:NAVI) had its target price decreased by TD Cowen from $14.00 to $13.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “sell” rating on the credit services provider’s stock. TD Cowen’s price objective would suggest a potential downside of 17.72% from the stock’s current price.

Several other brokerages have also recently issued reports on NAVI. StockNews.com cut shares of Navient from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. Stephens lowered Navient from an “equal weight” rating to an “underweight” rating and set a $16.00 price objective for the company. in a research note on Tuesday, January 2nd. JPMorgan Chase & Co. lowered their target price on Navient from $17.00 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday. Citigroup raised their target price on Navient from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, February 1st. Finally, Barclays decreased their price target on Navient from $13.00 to $11.00 and set an “underweight” rating for the company in a report on Thursday. Three analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $16.10.

Navient Stock Performance

NAVI traded up $0.04 on Friday, reaching $15.80. 310,424 shares of the stock were exchanged, compared to its average volume of 921,523. The company’s 50-day moving average price is $16.56 and its 200 day moving average price is $17.10. The company has a debt-to-equity ratio of 18.38, a current ratio of 12.52 and a quick ratio of 13.63. The firm has a market capitalization of $1.77 billion, a PE ratio of 10.14 and a beta of 1.38. Navient has a fifty-two week low of $14.10 and a fifty-two week high of $19.69.

Navient (NASDAQ:NAVI) last released its earnings results on Wednesday, April 24th. The credit services provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. Navient had a return on equity of 12.09% and a net margin of 3.93%. The firm had revenue of $163.00 million during the quarter, compared to the consensus estimate of $188.04 million. As a group, sell-side analysts forecast that Navient will post 1.65 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Mark L. Heleen sold 10,000 shares of Navient stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $17.20, for a total value of $172,000.00. Following the sale, the executive vice president now owns 385,577 shares in the company, valued at $6,631,924.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 27.99% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Navient

Hedge funds and other institutional investors have recently made changes to their positions in the company. Impact Partnership Wealth LLC raised its stake in Navient by 277.8% in the 3rd quarter. Impact Partnership Wealth LLC now owns 1,511 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 1,111 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Navient in the first quarter valued at about $36,000. CWM LLC lifted its stake in shares of Navient by 314.6% in the third quarter. CWM LLC now owns 2,193 shares of the credit services provider’s stock worth $38,000 after buying an additional 1,664 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Navient by 13.1% in the third quarter. PNC Financial Services Group Inc. now owns 5,236 shares of the credit services provider’s stock worth $90,000 after buying an additional 607 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its position in Navient by 367.7% during the third quarter. Exchange Traded Concepts LLC now owns 6,795 shares of the credit services provider’s stock worth $117,000 after acquiring an additional 5,342 shares during the last quarter. Hedge funds and other institutional investors own 97.14% of the company’s stock.

Navient Company Profile

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.