Navient (NASDAQ:NAVI) Stock Price Target Cut by Barclays

Navient (NASDAQ:NAVI) had its price target reduced by investment analysts at Barclays from $8.00 to $7.00 in a report issued on Monday, Benzinga reports. The firm presently has an “underweight” rating on the credit services provider’s stock. Barclays‘s price target points to a potential downside of 21.61% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Navient in a research report on Monday, September 21st. JPMorgan Chase & Co. lowered their price objective on Navient from $9.50 to $8.00 and set a “neutral” rating on the stock in a research report on Monday, July 13th. Finally, TD Cowen reaffirmed a “sell” rating on shares of Navient in a research note on Friday, August 7th. Four investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $8.08.

Navient Price Performance

NASDAQ:NAVI opened at $8.93 on Monday. The firm’s fifty day moving average is $9.24 and its two-hundred day moving average is $8.68. The firm has a market cap of $837.46 million, a price-to-earnings ratio of -17.86 and a beta of 1.15. The company has a debt-to-equity ratio of 16.73, a quick ratio of 10.53 and a current ratio of 10.53. Navient has a one year low of $7.33 and a one year high of $13.48.

Navient (NASDAQ:NAVI) last released its quarterly earnings data on Thursday, August 6th. The credit services provider reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.09. The business had revenue of $150.00 million during the quarter, compared to analyst estimates of $142.87 million. Navient had a positive return on equity of 4.68% and a negative net margin of 1.64%.During the same quarter last year, the business posted $0.20 EPS. Research analysts expect that Navient will post 0.78 EPS for the current year.

Institutional Trading of Navient

Several institutional investors have recently bought and sold shares of NAVI. Principal Financial Group Inc. lifted its holdings in Navient by 0.4% in the 1st quarter. Principal Financial Group Inc. now owns 322,085 shares of the credit services provider’s stock valued at $2,635,000 after purchasing an additional 1,354 shares in the last quarter. Illinois Municipal Retirement Fund grew its holdings in shares of Navient by 4.4% during the first quarter. Illinois Municipal Retirement Fund now owns 38,948 shares of the credit services provider’s stock worth $319,000 after buying an additional 1,654 shares in the last quarter. GAMMA Investing LLC raised its holdings in Navient by 10.5% in the 2nd quarter. GAMMA Investing LLC now owns 30,707 shares of the credit services provider’s stock valued at $261,000 after acquiring an additional 2,920 shares during the last quarter. iSAM Funds UK Ltd increased its holdings in shares of Navient by 32.8% in the second quarter. iSAM Funds UK Ltd now owns 13,400 shares of the credit services provider’s stock valued at $114,000 after purchasing an additional 3,309 shares during the last quarter. Finally, Parallel Advisors LLC increased its stake in shares of Navient by 325.6% in the 1st quarter. Parallel Advisors LLC now owns 5,005 shares of the credit services provider’s stock worth $41,000 after acquiring an additional 3,829 shares during the last quarter. 97.14% of the stock is owned by institutional investors and hedge funds.

Navient Company Profile

Navient Corporation is a financial services company that provides education finance and loan management solutions. Its activities include servicing and managing private education loans and federally backed loans held in its portfolio, as well as providing related customer support, payment processing and account administration services.

The company was formed in 2014 through the separation of Sallie Mae’s education-lending and loan-servicing businesses. Navient formerly serviced a significant portion of the federal student loan portfolio, but it exited the U.S.