JPMorgan Chase & Co. Cuts Navient (NASDAQ:NAVI) Price Target to $8.00

Navient (NASDAQ:NAVI) had its price target reduced by stock analysts at JPMorgan Chase & Co. from $9.50 to $8.00 in a report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the credit services provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential downside of 4.13% from the company’s previous close.

NAVI has been the topic of several other reports. TD Cowen reduced their target price on Navient from $9.00 to $8.50 and set a “sell” rating on the stock in a report on Tuesday, July 7th. Weiss Ratings restated a “sell (d)” rating on shares of Navient in a research report on Wednesday, June 24th. Bank of America started coverage on shares of Navient in a research note on Monday, April 20th. They issued an “underperform” rating and a $7.00 price objective on the stock. Barclays lifted their target price on shares of Navient from $7.00 to $8.00 and gave the stock an “underweight” rating in a research note on Thursday, April 30th. Finally, Zacks Research upgraded shares of Navient from a “strong sell” rating to a “hold” rating in a report on Monday, March 30th. Five analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $9.14.

Navient Trading Up 1.3%

NASDAQ:NAVI traded up $0.10 during trading hours on Monday, hitting $8.35. 235,020 shares of the company were exchanged, compared to its average volume of 1,086,700. The stock has a market capitalization of $784.35 million, a price-to-earnings ratio of -13.25 and a beta of 1.19. The company has a current ratio of 7.67, a quick ratio of 7.67 and a debt-to-equity ratio of 16.49. Navient has a one year low of $7.33 and a one year high of $15.26. The company has a fifty day simple moving average of $8.27 and a 200 day simple moving average of $9.32.

Navient (NASDAQ:NAVI) last released its quarterly earnings results on Tuesday, April 28th. The credit services provider reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. Navient had a positive return on equity of 4.39% and a negative net margin of 1.94%.The firm had revenue of $152.00 million for the quarter, compared to analyst estimates of $141.47 million. During the same quarter in the previous year, the company posted $0.25 EPS. Sell-side analysts expect that Navient will post 0.69 EPS for the current fiscal year.

Institutional Trading of Navient

Several large investors have recently modified their holdings of the stock. GAMMA Investing LLC lifted its position in shares of Navient by 70.5% during the 4th quarter. GAMMA Investing LLC now owns 1,978 shares of the credit services provider’s stock valued at $26,000 after acquiring an additional 818 shares during the period. Kestra Advisory Services LLC acquired a new stake in Navient in the fourth quarter worth $44,000. PNC Financial Services Group Inc. grew its holdings in Navient by 39.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,228 shares of the credit services provider’s stock worth $55,000 after purchasing an additional 1,191 shares during the period. Versant Capital Management Inc increased its stake in Navient by 552.6% in the second 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 in the last quarter. Finally, Parallel Advisors LLC increased its stake in 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 in the last quarter. Institutional investors and hedge funds own 97.14% of the company’s stock.

About Navient

Navient Corporation (NASDAQ: NAVI) is a specialized provider of asset management and business processing solutions, with a primary focus on student loan servicing. Established in 2014 through the separation from Sallie Mae, Navient assumed responsibility for servicing federal and private education loans, positioning itself as one of the largest servicers of higher education debt in the United States.

The company’s core activities center on federal student loan servicing under contracts with the U.S.