Navient (NASDAQ:NAVI) Price Target Cut to $6.00 by Analysts at Barclays

Key Points

• Barclays cut its Navient price target to $6 from $7 and maintained an “underweight” rating, implying 32.14% downside from the prior close.
• Analyst opinions remain mixed, but the consensus rating is “Reduce” with an $8 price target; ratings include one Strong Buy, three Holds, and four Sells.
• Navient reported quarterly EPS of $0.03, missing the $0.13 analyst estimate by $0.10; shares traded at $8.84 on Thursday.

Navient (NASDAQ:NAVI - Get Free Report) had its price objective dropped by equities research analysts at Barclays from $7.00 to $6.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an "underweight" rating on the credit services provider's stock. Barclays's price objective points to a potential downside of 32.14% from the stock's previous close.

Several other equities research analysts have also recently commented on NAVI. TD Cowen reaffirmed a "sell" rating on shares of Navient in a research report on Friday, August 7th. Zacks Research upgraded Navient from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 12th. JPMorgan Chase & Co. boosted their price target on shares of Navient from $8.00 to $8.50 and gave the stock a "neutral" rating in a research note on Monday, October 12th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Navient in a research note on Monday, September 21st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus price target of $8.00.

Navient Price Performance

Shares of NASDAQ NAVI traded down $0.23 during trading hours on Thursday, reaching $8.84. 1,083,535 shares of the stock traded hands, compared to its average volume of 1,166,564. Navient has a 52-week low of $7.33 and a 52-week high of $13.48. The company has a market capitalization of $829.24 million, a P/E ratio of -17.56 and a beta of 1.17. The company's 50-day simple moving average is $9.20 and its two-hundred day simple moving average is $8.91. The company has a quick ratio of 10.53, a current ratio of 10.53 and a debt-to-equity ratio of 16.73.

Navient (NASDAQ:NAVI - Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The credit services provider reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.10). The firm had revenue of $308.00 million for the quarter, compared to the consensus estimate of $144.92 million. Navient had a negative net margin of 1.64% and a positive return on equity of 4.68%. During the same quarter in the prior year, the company earned ($0.84) earnings per share. Equities research analysts forecast that Navient will post 0.83 EPS for the current year.

Hedge Funds Weigh In On Navient

A number of large investors have recently made changes to their positions in NAVI. Versant Capital Management Inc increased its holdings in shares of Navient by 552.6% in the 2nd quarter. Versant Capital Management Inc now owns 4,855 shares of the credit services provider's stock valued at $41,000 after purchasing an additional 4,111 shares during the period. Parallel Advisors LLC grew its position in shares of Navient by 325.6% in the first quarter. Parallel Advisors LLC now owns 5,005 shares of the credit services provider's stock valued at $41,000 after purchasing an additional 3,829 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Navient during the first quarter worth approximately $72,000. United Capital Financial Advisors LLC acquired a new stake in Navient in the 2nd quarter worth $87,000. Finally, Greenwood Gearhart LLC acquired a new position in Navient in the 1st quarter valued at approximately $84,000. Hedge funds and other institutional investors own 97.14% of the company's stock.

About Navient

Navient Corp. NASDAQ: NAVI is a financial services company that provides education finance and business-processing solutions. The company has historically serviced and managed federal and private student loans, helping borrowers with account administration, repayment processing, customer support and related loan-management services.

Navient's operations have evolved as the company reduced its role in servicing federally owned student loans. In 2021, it transferred its federal student loan servicing portfolio to Aidvantage, a division of Maximus.

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