Navient (NASDAQ:NAVI) Price Target Lowered to $14.00 at Morgan Stanley

Key Points

• Morgan Stanley has lowered its price target on Navient's stock from $15.00 to $14.00, maintaining an "equal weight" rating, indicating a potential upside of 9.12% from its current trading price.
• TD Cowen has downgraded Navient shares from "hold" to "strong sell," while several other brokerages have adjusted their price targets, reflecting a mix of ratings including three sell, six hold, and one strong buy.
• Navient reported earnings per share of $0.21 for the last quarter, missing analysts' expectations of $0.27, alongside revenue exceeding consensus estimates slightly at $156 million.

Navient (NASDAQ:NAVI - Get Free Report) had its price objective reduced by equities research analysts at Morgan Stanley from $15.00 to $14.00 in a report released on Thursday,Benzinga reports. The firm currently has an "equal weight" rating on the credit services provider's stock. Morgan Stanley's price objective would suggest a potential upside of 9.12% from the stock's current price.

A number of other brokerages also recently issued reports on NAVI. TD Cowen downgraded shares of Navient from a "hold" rating to a "strong sell" rating in a report on Thursday, May 1st. Keefe, Bruyette & Woods lowered their price target on shares of Navient from $16.50 to $15.00 and set a "market perform" rating on the stock in a report on Thursday. TD Securities increased their price target on shares of Navient from $11.00 to $12.00 and gave the stock a "sell" rating in a report on Thursday, May 1st. Jefferies Financial Group lowered their price target on shares of Navient from $14.00 to $12.00 and set a "hold" rating on the stock in a report on Monday, April 21st. Finally, JPMorgan Chase & Co. increased their price target on shares of Navient from $12.50 to $15.50 and gave the stock a "neutral" rating in a report on Friday, July 11th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $13.56.

Navient Stock Up 1.2%

Shares of NASDAQ NAVI traded up $0.15 during trading hours on Thursday, hitting $12.83. 447,248 shares of the stock were exchanged, compared to its average volume of 803,958. The company has a quick ratio of 9.88, a current ratio of 9.88 and a debt-to-equity ratio of 16.56. The company has a market cap of $1.30 billion, a PE ratio of 25.61 and a beta of 1.40. The firm has a fifty day moving average price of $14.00 and a 200-day moving average price of $13.42. Navient has a 12 month low of $10.53 and a 12 month high of $16.97.

Navient (NASDAQ:NAVI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The credit services provider reported $0.21 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.06). The firm had revenue of $156.00 million for the quarter, compared to the consensus estimate of $156.20 million. Navient had a return on equity of 5.20% and a net margin of 1.37%. During the same quarter last year, the firm earned $0.29 EPS. On average, sell-side analysts expect that Navient will post 1.04 EPS for the current year.

Institutional Investors Weigh In On Navient

A number of hedge funds have recently modified their holdings of NAVI. Sterling Capital Management LLC raised its position in shares of Navient by 815.0% in the fourth quarter. Sterling Capital Management LLC now owns 2,443 shares of the credit services provider's stock valued at $32,000 after buying an additional 2,176 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Navient during the first quarter worth about $40,000. New Age Alpha Advisors LLC acquired a new stake in Navient during the first quarter worth about $71,000. Covestor Ltd increased its position in Navient by 15.7% during the first quarter. Covestor Ltd now owns 7,303 shares of the credit services provider's stock worth $92,000 after purchasing an additional 993 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Navient by 2,663.1% during the first quarter. GAMMA Investing LLC now owns 8,096 shares of the credit services provider's stock worth $102,000 after purchasing an additional 7,803 shares during the last quarter. 97.14% of the stock is currently 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.

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