Navient (NASDAQ:NAVI) Given New $16.00 Price Target at Bank of America

Navient (NASDAQ:NAVI) had its price target cut by analysts at Bank of America from $17.00 to $16.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the credit services provider’s stock. Bank of America‘s target price suggests a potential upside of 18.34% from the stock’s current price.

A number of other analysts have also recently weighed in on the stock. StockNews.com upgraded shares of Navient from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. lowered their price target on Navient from $15.50 to $15.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. TD Cowen reduced their price objective on Navient from $14.00 to $13.00 and set a “sell” rating for the company in a research note on Friday, November 1st. Finally, Barclays increased their price objective on Navient from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 8th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $15.50.

Navient Stock Performance

Shares of NAVI stock traded up $0.28 during mid-day trading on Tuesday, hitting $13.52. 867,754 shares of the stock were exchanged, compared to its average volume of 809,185. The stock’s fifty day simple moving average is $15.03 and its two-hundred day simple moving average is $15.16. The company has a debt-to-equity ratio of 16.59, a quick ratio of 9.49 and a current ratio of 9.49. Navient has a 12-month low of $13.19 and a 12-month high of $19.25. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 19.59 and a beta of 1.40.

Navient (NASDAQ:NAVI) last released its quarterly earnings results on Wednesday, October 30th. The credit services provider reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $1.20. Navient had a return on equity of 8.62% and a net margin of 1.71%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $150.04 million. During the same quarter last year, the business posted $0.84 EPS. On average, analysts forecast that Navient will post 2.47 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Stephen M. Hauber sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $15.00, for a total transaction of $150,000.00. Following the sale, the executive vice president now owns 256,883 shares of the company’s stock, valued at $3,853,245. The trade was a 3.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 27.99% of the company’s stock.

Hedge Funds Weigh In On Navient

Hedge funds and other institutional investors have recently bought and sold shares of the company. KBC Group NV increased its position in shares of Navient by 47.0% in the third quarter. KBC Group NV now owns 4,355 shares of the credit services provider’s stock valued at $68,000 after buying an additional 1,392 shares in the last quarter. Signaturefd LLC grew its stake in Navient by 22.1% in the 2nd quarter. Signaturefd LLC now owns 4,797 shares of the credit services provider’s stock valued at $70,000 after acquiring an additional 869 shares during the last quarter. nVerses Capital LLC purchased a new position in Navient during the 3rd quarter valued at about $87,000. Harbor Capital Advisors Inc. acquired a new position in Navient during the third quarter worth about $95,000. Finally, Covestor Ltd grew its position in shares of Navient by 24.6% in the third quarter. Covestor Ltd now owns 7,360 shares of the credit services provider’s stock valued at $115,000 after purchasing an additional 1,455 shares during the last quarter. 97.14% of the stock is owned by institutional investors and hedge funds.

About Navient

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.