JPMorgan Chase & Co. Lowers Navient (NASDAQ:NAVI) Price Target to $11.00

Navient (NASDAQ:NAVI) had its price objective dropped by JPMorgan Chase & Co. from $13.50 to $11.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the credit services provider’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 8.33% from the company’s previous close.

Several other research analysts also recently weighed in on the stock. Keefe, Bruyette & Woods cut their target price on shares of Navient from $16.00 to $14.00 and set a “market perform” rating for the company in a research note on Monday, March 31st. Bank of America decreased their price target on shares of Navient from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Tuesday, December 24th. TD Cowen raised shares of Navient from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 2nd. StockNews.com cut Navient from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Finally, Seaport Res Ptn upgraded Navient from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $13.00.

Navient Price Performance

Navient stock opened at $12.00 on Tuesday. Navient has a 52 week low of $10.53 and a 52 week high of $16.97. The company has a quick ratio of 9.49, a current ratio of 9.48 and a debt-to-equity ratio of 16.35. The firm’s 50-day simple moving average is $13.26 and its 200 day simple moving average is $14.18. The firm has a market capitalization of $1.23 billion, a PE ratio of 10.34 and a beta of 1.24.

Navient (NASDAQ:NAVI) last released its quarterly earnings data on Wednesday, January 29th. The credit services provider reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). Navient had a return on equity of 6.69% and a net margin of 2.96%. On average, equities research analysts predict that Navient will post 1.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Navient

A number of institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. grew its stake in Navient by 6.4% during the 4th quarter. American Century Companies Inc. now owns 1,822,583 shares of the credit services provider’s stock valued at $24,222,000 after acquiring an additional 109,229 shares in the last quarter. Northern Trust Corp grew its stake in Navient by 14.6% during the 4th quarter. Northern Trust Corp now owns 1,567,466 shares of the credit services provider’s stock valued at $20,832,000 after acquiring an additional 199,937 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Navient by 47.4% during the 4th quarter. Wellington Management Group LLP now owns 1,315,841 shares of the credit services provider’s stock valued at $17,488,000 after buying an additional 423,013 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Navient by 0.9% during the 4th quarter. Bank of New York Mellon Corp now owns 1,149,599 shares of the credit services provider’s stock valued at $15,278,000 after buying an additional 10,788 shares during the last quarter. Finally, Bridgeway Capital Management LLC lifted its holdings in Navient by 2.5% in the 4th quarter. Bridgeway Capital Management LLC now owns 917,232 shares of the credit services provider’s stock worth $12,190,000 after purchasing an additional 22,765 shares during the last quarter. Hedge funds and other institutional investors 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.