Navistar International’s (NAV) Hold Rating Reaffirmed at Zacks Investment Research

Zacks Investment Research restated their hold rating on shares of Navistar International (NYSE:NAV) in a report issued on Wednesday. They currently have a $37.00 target price on the stock.

According to Zacks, “In the third-quarter fiscal 2018, Navistar’s adjusted earnings and revenues witnessed a rise year over year. Moreover, the earnings per share figure surpassed the Zacks Consensus Estimate while revenues missed the same. Also, the Zacks Consensus Estimate for Navistar’s fourth-quarter and fiscal earnings has been going up. Strong industry conditions have encouraged the company to raise its guidance for fiscal 2018. Moreover, its cost-saving initiatives of engine restructuring and reductions in discretionary spending and employee headcount will drive the company’s financials. Further, Navistar’s product launches will strengthen the product line up. Also, in the last three months, shares of the company have outperformed the industry it belongs to. However, higher costs due to additional transport expenses, premium freight and high commodity prices, particularly steel, are adding to its woes.”

NAV has been the topic of several other research reports. ValuEngine lowered shares of Navistar International from a hold rating to a sell rating in a research report on Tuesday, October 23rd. Piper Jaffray Companies lowered shares of Navistar International from an overweight rating to a neutral rating and set a $37.00 price target on the stock. in a research report on Wednesday, October 24th. Buckingham Research upgraded shares of Navistar International from a neutral rating to a buy rating and set a $48.00 price target on the stock in a research report on Friday, September 7th. They noted that the move was a valuation call. Royal Bank of Canada restated a hold rating and issued a $44.00 price target on shares of Navistar International in a research report on Thursday, July 19th. Finally, Loop Capital began coverage on shares of Navistar International in a research report on Monday, October 1st. They issued a hold rating and a $42.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and six 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 $45.00.

Navistar International stock traded down $0.85 during mid-day trading on Wednesday, hitting $30.17. The company’s stock had a trading volume of 365,995 shares, compared to its average volume of 512,094. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of 59.16, a price-to-earnings-growth ratio of 1.61 and a beta of 2.35. Navistar International has a twelve month low of $29.67 and a twelve month high of $47.73.

Navistar International (NYSE:NAV) last posted its quarterly earnings results on Thursday, September 6th. The company reported $1.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.78. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.67 billion. Navistar International had a net margin of 3.01% and a negative return on equity of 6.45%. The firm’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.38 earnings per share. Analysts predict that Navistar International will post 3.22 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its position in Navistar International by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,252,905 shares of the company’s stock worth $51,017,000 after purchasing an additional 95,482 shares in the last quarter. Victory Capital Management Inc. grew its position in Navistar International by 1,317.3% during the 3rd quarter. Victory Capital Management Inc. now owns 809,919 shares of the company’s stock worth $31,183,000 after purchasing an additional 752,772 shares in the last quarter. Northern Trust Corp grew its position in Navistar International by 1.0% during the 2nd quarter. Northern Trust Corp now owns 609,747 shares of the company’s stock worth $24,829,000 after purchasing an additional 5,739 shares in the last quarter. OppenheimerFunds Inc. grew its position in Navistar International by 5.3% during the 2nd quarter. OppenheimerFunds Inc. now owns 450,099 shares of the company’s stock worth $18,328,000 after purchasing an additional 22,626 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in Navistar International by 4.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 333,038 shares of the company’s stock worth $13,562,000 after purchasing an additional 15,275 shares in the last quarter. Hedge funds and other institutional investors own 75.74% of the company’s stock.

About Navistar International

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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