Navient (NASDAQ:NAVI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Shares of Navient have underperformed the industry over the past six months. Yet, the company has a decent earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. The company remains well poised to benefit from the ongoing economic recovery and remains focused on leveraging its asset recovery & processing businesses. Also, its inorganic growth strategies of diversifying product offerings and boosting overall business encourage us. However, Navient continues to struggle with regulatory claims and litigation burden owing to its practices in handling large number of student loans.”
NAVI has been the topic of several other research reports. Jefferies Group reiterated a “hold” rating and set a $14.00 price target on shares of Navient in a report on Thursday, January 11th. ValuEngine lowered Navient from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. BidaskClub upgraded Navient from a “strong sell” rating to a “sell” rating in a report on Friday. Oppenheimer began coverage on Navient in a report on Monday, January 8th. They set a “hold” rating on the stock. Finally, JPMorgan Chase & Co. lowered Navient from a “neutral” rating to an “underweight” rating in a report on Friday, January 12th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $17.45.
Navient (NASDAQ:NAVI) last posted its quarterly earnings results on Tuesday, January 23rd. The credit services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.42 by $0.01. Navient had a return on equity of 13.90% and a net margin of 5.94%. The business had revenue of $366.00 million for the quarter, compared to analyst estimates of $362.33 million. During the same quarter in the previous year, the firm earned $0.43 EPS. equities research analysts predict that Navient will post 1.91 earnings per share for the current year.
In related news, SVP Stephen M. Hauber sold 17,423 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $14.40, for a total transaction of $250,891.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.68% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. increased its position in shares of Navient by 27.5% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 2,022,265 shares of the credit services provider’s stock worth $30,375,000 after purchasing an additional 436,644 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Navient by 68.3% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 38,359 shares of the credit services provider’s stock worth $577,000 after purchasing an additional 15,570 shares during the last quarter. Alps Advisors Inc. increased its position in shares of Navient by 13.8% during the 4th quarter. Alps Advisors Inc. now owns 3,816,609 shares of the credit services provider’s stock worth $50,837,000 after purchasing an additional 463,382 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Navient by 3.4% during the 3rd quarter. Prudential Financial Inc. now owns 5,888,964 shares of the credit services provider’s stock worth $88,452,000 after purchasing an additional 192,614 shares during the last quarter. Finally, Trexquant Investment LP acquired a new stake in shares of Navient during the 3rd quarter worth about $299,000. 97.90% of the stock is owned by hedge funds and other institutional investors.
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).
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