Bank of America Issues Pessimistic Forecast for Navient (NASDAQ:NAVI) Stock Price

Navient (NASDAQ:NAVI) had its price objective reduced by stock analysts at Bank of America from $17.00 to $16.00 in a report released on Tuesday,Benzinga reports. The firm currently 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 previous close.

Other equities analysts have also recently issued research reports about the stock. StockNews.com raised shares of Navient from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. decreased their price target on Navient from $15.50 to $15.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. TD Cowen dropped 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 target price on Navient from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 8th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $15.50.

Navient Price Performance

NASDAQ:NAVI opened at $13.52 on Tuesday. Navient has a 52 week low of $13.19 and a 52 week high of $19.25. The stock’s fifty day moving average is $14.99 and its two-hundred day moving average is $15.15. The company has a market capitalization of $1.45 billion, a P/E ratio of 19.59 and a beta of 1.40. The company has a quick ratio of 9.49, a current ratio of 9.49 and a debt-to-equity ratio of 16.59.

Navient (NASDAQ:NAVI) last issued its quarterly earnings data on Wednesday, October 30th. The credit services provider reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $1.20. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $150.04 million. Navient had a net margin of 1.71% and a return on equity of 8.62%. During the same period in the previous year, the firm earned $0.84 EPS. Equities analysts expect that Navient will post 2.47 EPS for the current year.

Insiders Place Their Bets

In other Navient news, EVP Stephen M. Hauber sold 10,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $15.00, for a total value of $150,000.00. Following the sale, the executive vice president now directly owns 256,883 shares of the company’s stock, valued at approximately $3,853,245. This represents a 3.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 27.99% of the stock is owned by company insiders.

Institutional Investors Weigh In On Navient

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

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.