JPMorgan Chase & Co. Issues Pessimistic Forecast for Navient (NASDAQ:NAVI) Stock Price

Navient (NASDAQ:NAVI) had its price target reduced by JPMorgan Chase & Co. from $9.50 to $8.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the credit services provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential downside of 4.13% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Zacks Research upgraded shares of Navient from a “strong sell” rating to a “hold” rating in a research note on Monday, March 30th. Weiss Ratings reiterated a “sell (d)” rating on shares of Navient in a report on Wednesday, June 24th. TD Cowen reduced their price objective on shares of Navient from $9.00 to $8.50 and set a “sell” rating for the company in a report on Tuesday, July 7th. Bank of America began coverage on shares of Navient in a research report on Monday, April 20th. They set an “underperform” rating and a $7.00 target price for the company. Finally, Morgan Stanley lowered their target price on shares of Navient from $12.00 to $9.00 and set an “equal weight” rating on the stock in a report on Thursday, April 16th. Five analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $9.14.

Navient Stock Up 1.3%

Navient stock traded up $0.10 during mid-day trading on Monday, reaching $8.35. The stock had a trading volume of 235,020 shares, compared to its average volume of 1,086,700. The firm has a market capitalization of $784.35 million, a PE ratio of -13.25 and a beta of 1.19. Navient has a fifty-two week low of $7.33 and a fifty-two week high of $15.26. The stock’s 50-day simple moving average is $8.27 and its 200-day simple moving average is $9.32. The company has a debt-to-equity ratio of 16.49, a quick ratio of 7.67 and a current ratio of 7.67.

Navient (NASDAQ:NAVI) last issued its earnings results on Tuesday, April 28th. The credit services provider reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. Navient had a positive return on equity of 4.39% and a negative net margin of 1.94%.The company had revenue of $152.00 million for the quarter, compared to analyst estimates of $141.47 million. During the same period in the prior year, the firm earned $0.25 earnings per share. On average, sell-side analysts forecast that Navient will post 0.69 EPS for the current fiscal year.

Institutional Trading of Navient

Institutional investors have recently made changes to their positions in the company. Lighthouse Investment Partners LLC lifted its position in shares of Navient by 790.1% during the third quarter. Lighthouse Investment Partners LLC now owns 1,590,339 shares of the credit services provider’s stock valued at $20,913,000 after purchasing an additional 1,411,662 shares in the last quarter. Bank of America Corp DE increased its stake in Navient by 685.3% in the 1st quarter. Bank of America Corp DE now owns 1,243,764 shares of the credit services provider’s stock valued at $10,174,000 after buying an additional 1,085,380 shares during the last quarter. Orbis Allan Gray Ltd increased its stake in Navient by 23.2% in the 2nd quarter. Orbis Allan Gray Ltd now owns 2,848,718 shares of the credit services provider’s stock valued at $40,167,000 after buying an additional 536,933 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Navient by 37.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,543,796 shares of the credit services provider’s stock worth $20,069,000 after buying an additional 423,381 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Navient by 20.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,484,742 shares of the credit services provider’s stock worth $32,302,000 after buying an additional 418,161 shares during the last quarter. Institutional investors own 97.14% of the company’s stock.

Navient Company Profile

Navient Corporation (NASDAQ: NAVI) is a specialized provider of asset management and business processing solutions, with a primary focus on student loan servicing. Established in 2014 through the separation from Sallie Mae, Navient assumed responsibility for servicing federal and private education loans, positioning itself as one of the largest servicers of higher education debt in the United States.

The company’s core activities center on federal student loan servicing under contracts with the U.S.