Navistar International (NAV) Stock Price Down 8.5%

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Navistar International Corp (NYSE:NAV)’s share price dropped 8.5% on Thursday . The company traded as low as $37.02 and last traded at $37.16. Approximately 2,450,057 shares changed hands during mid-day trading, an increase of 220% from the average daily volume of 766,638 shares. The stock had previously closed at $40.60.

NAV has been the subject of a number of analyst reports. ValuEngine cut Navistar International from a “buy” rating to a “hold” rating in a report on Thursday. Zacks Investment Research raised Navistar International from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a report on Monday, September 3rd. Royal Bank of Canada reaffirmed a “hold” rating and issued a $44.00 price target on shares of Navistar International in a report on Thursday, July 19th. Buckingham Research raised Navistar International from a “neutral” rating to a “buy” rating and set a $48.00 price target for the company in a report on Friday. They noted that the move was a valuation call. Finally, Longbow Research raised Navistar International from a “neutral” rating to a “buy” rating and upped their price target for the stock from $25.06 to $50.00 in a report on Friday, June 1st. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $46.47.

The firm has a market cap of $3.67 billion, a P/E ratio of 74.35, a P/E/G ratio of 3.54 and a beta of 2.33. The company has a debt-to-equity ratio of -0.85, a current ratio of 1.11 and a quick ratio of 0.82.

Navistar International (NYSE:NAV) last announced its earnings results on Thursday, September 6th. The company reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.78. Navistar International had a negative return on equity of 6.37% and a net margin of 3.01%. The business had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter in the prior year, the firm earned $0.38 earnings per share. The business’s revenue was up 17.8% compared to the same quarter last year. research analysts anticipate that Navistar International Corp will post 2.1 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the business. Zweig DiMenna Associates LLC raised its holdings in shares of Navistar International by 64.6% during the second quarter. Zweig DiMenna Associates LLC now owns 219,763 shares of the company’s stock valued at $8,949,000 after acquiring an additional 86,263 shares during the last quarter. Swiss National Bank raised its holdings in shares of Navistar International by 2.8% during the first quarter. Swiss National Bank now owns 76,900 shares of the company’s stock valued at $2,689,000 after acquiring an additional 2,100 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Navistar International by 132.8% during the first quarter. Royal Bank of Canada now owns 8,135 shares of the company’s stock valued at $285,000 after acquiring an additional 32,926 shares during the last quarter. Ardevora Asset Management LLP raised its holdings in shares of Navistar International by 0.5% during the first quarter. Ardevora Asset Management LLP now owns 935,970 shares of the company’s stock valued at $32,731,000 after acquiring an additional 4,900 shares during the last quarter. Finally, Redwood Investment Management LLC raised its holdings in shares of Navistar International by 210.1% during the first quarter. Redwood Investment Management LLC now owns 32,252 shares of the company’s stock valued at $1,128,000 after acquiring an additional 21,853 shares during the last quarter. 80.14% of the stock is owned by institutional investors and hedge funds.

Navistar International Company Profile (NYSE:NAV)

Navistar International Corporation 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. It manufactures and distributes Class 4 through 8 trucks and buses in the common carrier, private carrier, government, leasing, construction, energy/petroleum, military vehicle, and student and commercial transportation markets under the International and IC brands; and designs, engineers, and produces sheet metal components, including truck cabs and engines.

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