Navient (NASDAQ:NAVI) Price Target Cut to $17.00 by Analysts at Keefe, Bruyette & Woods

Navient (NASDAQ:NAVI) had its price target reduced by investment analysts at Keefe, Bruyette & Woods from $19.00 to $17.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “market perform” rating on the credit services provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 8.14% from the stock’s previous close.

NAVI has been the subject of several other research reports. Citigroup boosted their target price on shares of Navient from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st. TD Cowen lowered Navient from a “market perform” rating to an “underperform” rating and lowered their target price for the company from $17.00 to $15.00 in a report on Monday, January 8th. StockNews.com lowered Navient from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Deutsche Bank Aktiengesellschaft began coverage on shares of Navient in a research report on Wednesday, January 10th. They set a “hold” rating and a $19.00 price target for the company. Finally, JPMorgan Chase & Co. upgraded shares of Navient from an “underweight” rating to a “neutral” rating and cut their price objective for the company from $18.00 to $17.00 in a research report on Wednesday, April 3rd. Three research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $16.10.

Navient Stock Performance

Shares of NAVI opened at $15.72 on Thursday. Navient has a 52-week low of $14.10 and a 52-week high of $19.69. The company has a quick ratio of 13.63, a current ratio of 12.52 and a debt-to-equity ratio of 18.38. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 10.08 and a beta of 1.38. The business’s 50 day moving average is $16.54 and its two-hundred day moving average is $17.09.

Navient (NASDAQ:NAVI) last issued its quarterly earnings results on Wednesday, April 24th. The credit services provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05. Navient had a net margin of 3.93% and a return on equity of 12.09%. The business had revenue of $163.00 million for the quarter, compared to analysts’ expectations of $188.04 million. Analysts forecast that Navient will post 1.74 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Mark L. Heleen sold 10,000 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $17.20, for a total value of $172,000.00. Following the completion of the sale, the executive vice president now owns 385,577 shares in the company, valued at $6,631,924.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 27.99% of the company’s stock.

Hedge Funds Weigh In On Navient

Several institutional investors and hedge funds have recently modified their holdings of NAVI. Impact Partnership Wealth LLC lifted its holdings in shares of Navient by 277.8% during the 3rd quarter. Impact Partnership Wealth LLC now owns 1,511 shares of the credit services provider’s stock valued at $26,000 after buying an additional 1,111 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Navient during the 1st quarter valued at about $36,000. CWM LLC raised its stake in shares of Navient by 314.6% in the 3rd quarter. CWM LLC now owns 2,193 shares of the credit services provider’s stock valued at $38,000 after acquiring an additional 1,664 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Navient by 13.1% during the third quarter. PNC Financial Services Group Inc. now owns 5,236 shares of the credit services provider’s stock worth $90,000 after purchasing an additional 607 shares during the period. Finally, Exchange Traded Concepts LLC grew its holdings in Navient by 367.7% during the third quarter. Exchange Traded Concepts LLC now owns 6,795 shares of the credit services provider’s stock valued at $117,000 after purchasing an additional 5,342 shares during the last quarter. 97.14% of the stock is currently 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.