Barclays Trims Navient (NASDAQ:NAVI) Target Price to $11.00

Navient (NASDAQ:NAVI) had its price target reduced by equities research analysts at Barclays from $13.00 to $11.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “underweight” rating on the credit services provider’s stock. Barclays‘s price objective suggests a potential downside of 29.40% from the company’s current price.

Several other research analysts also recently weighed in on NAVI. StockNews.com downgraded shares of Navient from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. Stephens downgraded shares of Navient from an “equal weight” rating to an “underweight” rating and set a $16.00 target price for the company. in a report on Tuesday, January 2nd. TD Cowen downgraded shares of Navient from a “market perform” rating to an “underperform” rating and dropped their target price for the stock from $17.00 to $15.00 in a report on Monday, January 8th. Keefe, Bruyette & Woods dropped their target price on shares of Navient from $19.00 to $17.00 and set a “market perform” rating for the company in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Navient in a research note on Wednesday, January 10th. They issued a “hold” rating and a $19.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $16.30.

Navient Stock Performance

Shares of NAVI stock traded down $0.51 during mid-day trading on Thursday, reaching $15.58. 725,118 shares of the company’s stock traded hands, compared to its average volume of 918,170. Navient has a 12 month low of $14.10 and a 12 month high of $19.69. The firm has a 50 day moving average price of $16.57 and a two-hundred day moving average price of $17.11. The company has a debt-to-equity ratio of 19.35, a quick ratio of 13.63 and a current ratio of 13.64. The firm has a market capitalization of $1.75 billion, a PE ratio of 8.75 and a beta of 1.38.

Navient (NASDAQ:NAVI) last issued its quarterly earnings data on Wednesday, April 24th. The credit services provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. Navient had a net margin of 4.72% and a return on equity of 14.17%. The firm had revenue of $163.00 million during the quarter, compared to the consensus estimate of $188.04 million. On average, research analysts forecast that Navient will post 2.12 EPS for the current year.

Insider Activity

In other news, EVP Mark L. Heleen sold 10,000 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $17.20, for a total transaction of $172,000.00. Following the sale, the executive vice president now directly owns 385,577 shares in the company, valued at approximately $6,631,924.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 27.99% of the company’s stock.

Institutional Trading of Navient

Hedge funds have recently made changes to their positions in the business. Impact Partnership Wealth LLC raised its position in Navient by 277.8% in the 3rd quarter. Impact Partnership Wealth LLC now owns 1,511 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 1,111 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Navient in the 1st quarter worth about $36,000. CWM LLC raised its position in Navient by 314.6% in the 3rd quarter. CWM LLC now owns 2,193 shares of the credit services provider’s stock worth $38,000 after purchasing an additional 1,664 shares during the period. PNC Financial Services Group Inc. raised its position in Navient by 13.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,236 shares of the credit services provider’s stock worth $90,000 after purchasing an additional 607 shares during the period. Finally, Exchange Traded Concepts LLC raised its position in Navient by 367.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 6,795 shares of the credit services provider’s stock worth $117,000 after purchasing an additional 5,342 shares during the period. 97.14% of the stock is currently owned by hedge funds and other institutional investors.

Navient Company Profile

Navient Corporation provides technology-enabled education finance and business processing solutions for education, health care, and government clients in the United States. It operates through three segments: Federal Education Loans, Consumer Lending, and Business Processing. The company owns Federal Family Education Loan Program (FFELP) loans that are insured or guaranteed by state or not-for-profit agencies; and performs servicing on its portfolios, as well as federal education loans held by other institutions.