Navient (NASDAQ:NAVI) Price Target Cut to $13.00 by Analysts at TD Cowen

Navient (NASDAQ:NAVI) had its price target lowered by research analysts at TD Cowen from $14.00 to $13.00 in a report released on Friday, Benzinga reports. The firm presently has a “sell” rating on the credit services provider’s stock. TD Cowen’s price target would suggest a potential downside of 17.72% from the company’s current price.

Several other equities analysts also recently weighed in on the stock. 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. Citigroup lifted their price objective on Navient from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, February 1st. Barclays lowered their target price on Navient from $13.00 to $11.00 and set an “underweight” rating on the stock in a report on Thursday. JPMorgan Chase & Co. cut their price target on Navient from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Thursday. Finally, StockNews.com cut Navient from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Three equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $16.10.

Navient Price Performance

Shares of NASDAQ:NAVI traded up $0.04 during trading on Friday, hitting $15.80. 310,424 shares of the stock were exchanged, compared to its average volume of 921,523. Navient has a 12-month low of $14.10 and a 12-month high of $19.69. The company has a market cap of $1.77 billion, a PE ratio of 10.14 and a beta of 1.38. The company has a fifty day moving average price of $16.56 and a two-hundred day moving average price of $17.10. The company has a current ratio of 12.52, a quick ratio of 13.63 and a debt-to-equity ratio of 18.38.

Navient (NASDAQ:NAVI) last posted its earnings results on Wednesday, April 24th. The credit services provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. Navient had a return on equity of 12.09% and a net margin of 3.93%. The company had revenue of $163.00 million for the quarter, compared to the consensus estimate of $188.04 million. On average, analysts forecast that Navient will post 1.65 EPS for the current year.

Insider Activity

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

Institutional Trading of Navient

Institutional investors and hedge funds have recently bought and sold shares of the business. Donald Smith & CO. Inc. grew its stake in Navient by 31.5% during the fourth quarter. Donald Smith & CO. Inc. now owns 3,586,501 shares of the credit services provider’s stock worth $66,781,000 after buying an additional 858,890 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in Navient during the 4th quarter worth $13,546,000. DekaBank Deutsche Girozentrale increased its holdings in Navient by 207.8% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 231,186 shares of the credit services provider’s stock valued at $4,320,000 after purchasing an additional 156,086 shares in the last quarter. Denali Advisors LLC raised its position in Navient by 115.9% in the first quarter. Denali Advisors LLC now owns 283,000 shares of the credit services provider’s stock valued at $4,924,000 after purchasing an additional 151,900 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Navient by 24.8% during the third quarter. Assenagon Asset Management S.A. now owns 541,674 shares of the credit services provider’s stock worth $9,328,000 after purchasing an additional 107,543 shares in the last quarter. Institutional investors and hedge funds own 97.14% of the company’s stock.

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.