Navistar International (NAV) Sees Unusually-High Trading Volume on Better-Than-Expected Earnings

Shares of Navistar International Corp (NYSE:NAV) saw unusually-high trading volume on Tuesday following a better than expected earnings announcement. Approximately 5,024,100 shares changed hands during mid-day trading, an increase of 704% from the previous session’s volume of 624,906 shares.The stock last traded at $45.30 and had previously closed at $42.19.

The company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.71. Navistar International had a negative return on equity of 0.93% and a net margin of 0.35%. The business had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same period in the previous year, the firm earned ($0.42) earnings per share. The firm’s quarterly revenue was up 25.9% compared to the same quarter last year.

A number of research analysts have issued reports on NAV shares. Robert W. Baird reissued a “buy” rating on shares of Navistar International in a research note on Tuesday, September 5th. Jefferies Group restated a “positive” rating and issued a $47.00 price target (up from $35.00) on shares of Navistar International in a report on Thursday, September 7th. Royal Bank of Canada boosted their price target on Navistar International from $31.00 to $36.00 and gave the company a “sector perform” rating in a report on Thursday, September 7th. Deutsche Bank upped their target price on Navistar International from $26.00 to $36.00 and gave the stock a “hold” rating in a report on Thursday, September 7th. Finally, UBS reiterated a “neutral” rating and set a $39.00 target price (up previously from $31.00) on shares of Navistar International in a report on Monday, September 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $39.77.

In other news, Director Stephen R. D’arcy sold 1,000 shares of the stock in a transaction on Friday, October 6th. The stock was sold at an average price of $44.34, for a total value of $44,340.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 21.80% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in NAV. Hanseatic Management Services Inc. grew its stake in shares of Navistar International by 1.2% in the 2nd quarter. Hanseatic Management Services Inc. now owns 7,036 shares of the company’s stock valued at $185,000 after buying an additional 81 shares during the period. UBS Asset Management Americas Inc. grew its stake in shares of Navistar International by 0.4% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 43,996 shares of the company’s stock valued at $1,154,000 after buying an additional 176 shares during the period. Ameritas Investment Partners Inc. grew its stake in shares of Navistar International by 10.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,367 shares of the company’s stock valued at $115,000 after buying an additional 430 shares during the period. Aperio Group LLC boosted its stake in Navistar International by 2.4% during the 2nd quarter. Aperio Group LLC now owns 23,707 shares of the company’s stock valued at $622,000 after purchasing an additional 550 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Navistar International by 2.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,180 shares of the company’s stock valued at $1,054,000 after purchasing an additional 1,086 shares during the last quarter. 83.24% of the stock is owned by institutional investors and hedge funds.

The stock has a market capitalization of $4,459.58, a P/E ratio of 146.13, a PEG ratio of 4.08 and a beta of 2.71. The company has a current ratio of 1.23, a quick ratio of 0.94 and a debt-to-equity ratio of -0.86.

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About Navistar International

Navistar International Corporation is a holding company whose principal operating entities are Navistar, Inc and Navistar Financial Corporation (NFC). The Company’s segments include Truck, Parts, Global Operations (collectively, Manufacturing operations) and Financial Services, which consists of NFC and its foreign finance operations (collectively, Financial Services operations).

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