Navient (NAVI) Upgraded by Zacks Investment Research to Buy

Navient (NASDAQ:NAVI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Monday, August 6th. The firm presently has a $15.00 price target on the credit services provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 9.97% from the stock’s previous close.

According to Zacks, “Shares of Navient have underperformed the industry over the past six months. However, the company has an impressive earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. Second-quarter results reflected lower provisions, partially offset by fall in revenues and higher expenses. The company remains well poised to benefit from the ongoing economic recovery and remains focused on leveraging its asset recovery & processing businesses. Though, Navient continues to struggle with regulatory claims and litigation burden owing to its practices in handling large number of student loans, its inorganic growth strategies of diversifying product offerings and boosting overall business encourage us.”

Several other equities research analysts have also issued reports on the stock. BidaskClub lowered shares of Navient from a “buy” rating to a “hold” rating in a research note on Wednesday, June 13th. ValuEngine downgraded shares of Navient from a “hold” rating to a “sell” rating in a report on Tuesday, June 12th. Finally, Wedbush raised shares of Navient from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $14.50 to $15.75 in a report on Friday, June 1st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $16.09.

NASDAQ:NAVI traded up $0.09 on Monday, hitting $13.64. The stock had a trading volume of 1,335,400 shares, compared to its average volume of 3,038,031. The company has a debt-to-equity ratio of 26.35, a quick ratio of 21.92 and a current ratio of 21.92. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of 7.62 and a beta of 2.17. Navient has a 1 year low of $11.48 and a 1 year high of $15.61.

Navient (NASDAQ:NAVI) last posted its quarterly earnings data on Tuesday, July 24th. The credit services provider reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.05. Navient had a net margin of 5.72% and a return on equity of 13.95%. The firm had revenue of $330.00 million during the quarter, compared to analyst estimates of $314.00 million. During the same quarter last year, the business posted $0.43 EPS. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. sell-side analysts forecast that Navient will post 1.92 earnings per share for the current year.

Large investors have recently made changes to their positions in the business. Point72 Asset Management L.P. bought a new position in Navient in the 2nd quarter valued at $125,000. Yorktown Management & Research Co Inc bought a new position in Navient in the 2nd quarter valued at $130,000. Nomura Asset Management Co. Ltd. bought a new position in Navient in the 1st quarter valued at $138,000. Shufro Rose & Co. LLC bought a new position in Navient in the 2nd quarter valued at $139,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Navient in the 2nd quarter valued at $151,000. 91.89% of the stock is owned by hedge funds and other institutional investors.

About Navient

Navient Corporation provides asset management and business processing services to education, health care, and government clients at the federal, state, and local levels in the United States. The company operates in three segments: Federal Family Education Loan Program (FFELP) Loans, Private Education Loans, and Business Services.

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