Navient (NASDAQ:NAVI) Given New $17.00 Price Target at Barclays

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Navient (NASDAQ:NAVI) had its price target upped by Barclays from $14.00 to $17.00 in a report published on Thursday, BenzingaRatingsTable reports. The brokerage currently has a positive rating on the credit services provider’s stock. The analysts noted that the move was a valuation call.

Other research analysts have also recently issued research reports about the stock. Oppenheimer cut shares of Gulfport Energy from an outperform rating to a market perform rating in a research report on Friday, April 5th. BMO Capital Markets upgraded shares of Gold Fields from a market perform rating to an outperform rating in a research report on Thursday, April 25th. BidaskClub cut shares of Westport Fuel Systems from a buy rating to a hold rating in a research report on Friday, July 19th. ValuEngine cut shares of Zosano Pharma from a buy rating to a hold rating in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. reiterated a hold rating and set a $7.00 price objective on shares of Deutsche Bank in a research report on Thursday, April 25th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $15.50.

Navient stock traded down $0.08 during mid-day trading on Thursday, reaching $14.10. 164,125 shares of the company’s stock traded hands, compared to its average volume of 1,923,432. The stock has a market capitalization of $3.61 billion, a P/E ratio of 6.75, a price-to-earnings-growth ratio of 2.34 and a beta of 2.11. The firm’s 50 day moving average price is $13.51. The company has a debt-to-equity ratio of 26.20, a quick ratio of 12.43 and a current ratio of 13.85. Navient has a 12-month low of $8.23 and a 12-month high of $15.67.

Navient (NASDAQ:NAVI) last released its quarterly earnings results on Tuesday, July 23rd. The credit services provider reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.20. Navient had a net margin of 8.14% and a return on equity of 16.82%. The company had revenue of $296.00 million for the quarter, compared to the consensus estimate of $296.50 million. During the same quarter in the prior year, the firm earned $0.52 earnings per share. Navient’s revenue was down 7.2% on a year-over-year basis. As a group, sell-side analysts forecast that Navient will post 2.15 earnings per share for the current year.

In other news, major shareholder Canyon Capital Advisors Llc sold 3,500,000 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $14.95, for a total value of $52,325,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Stephen M. Hauber sold 9,000 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $13.63, for a total transaction of $122,670.00. The disclosure for this sale can be found here. Insiders own 1.85% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Strs Ohio increased its holdings in Navient by 6.6% in the 2nd quarter. Strs Ohio now owns 26,057 shares of the credit services provider’s stock worth $355,000 after buying an additional 1,619 shares during the period. Convergence Investment Partners LLC acquired a new position in Navient in the 2nd quarter worth approximately $1,735,000. WBI Investments Inc. increased its holdings in Navient by 495.2% in the 2nd quarter. WBI Investments Inc. now owns 696,633 shares of the credit services provider’s stock worth $9,509,000 after buying an additional 579,595 shares during the period. Perella Weinberg Partners Capital Management LP acquired a new position in Navient in the 2nd quarter worth approximately $245,000. Finally, Commonwealth Equity Services LLC increased its holdings in Navient by 13.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 101,463 shares of the credit services provider’s stock worth $1,384,000 after buying an additional 11,843 shares during the period. Hedge funds and other institutional investors own 94.09% of the company’s stock.

Navient Company Profile

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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Analyst Recommendations for Navient (NASDAQ:NAVI)

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