Navient (NASDAQ:NAVI) Given New $8.50 Price Target at TD Cowen

Navient (NASDAQ:NAVI) had its target price dropped by stock analysts at TD Cowen from $9.00 to $8.50 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “sell” rating on the credit services provider’s stock. TD Cowen’s price target would indicate a potential upside of 1.01% from the stock’s previous close.

NAVI has been the topic of a number of other reports. JPMorgan Chase & Co. cut their price objective on Navient from $10.50 to $8.50 and set a “neutral” rating on the stock in a research report on Thursday, April 9th. Weiss Ratings restated a “sell (d)” rating on shares of Navient in a report on Wednesday, June 24th. Barclays raised their price target on Navient from $7.00 to $8.00 and gave the stock an “underweight” rating in a research note on Thursday, April 30th. Morgan Stanley cut their price target on shares of Navient from $12.00 to $9.00 and set an “equal weight” rating on the stock in a report on Thursday, April 16th. Finally, Bank of America assumed coverage on shares of Navient in a report on Monday, April 20th. They issued an “underperform” rating and a $7.00 price target on the stock. Five investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $9.21.

Navient Trading Up 0.3%

Shares of Navient stock traded up $0.03 during trading on Tuesday, reaching $8.41. 102,775 shares of the stock were exchanged, compared to its average volume of 1,090,367. The company has a quick ratio of 7.67, a current ratio of 7.67 and a debt-to-equity ratio of 16.49. The firm has a market cap of $790.93 million, a price-to-earnings ratio of -13.35 and a beta of 1.19. Navient has a 1 year low of $7.33 and a 1 year high of $16.07. The stock’s fifty day moving average is $8.35 and its 200 day moving average is $9.46.

Navient (NASDAQ:NAVI) last announced its quarterly earnings results on Tuesday, April 28th. The credit services provider reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. The company had revenue of $152.00 million for the quarter, compared to the consensus estimate of $141.47 million. Navient had a positive return on equity of 4.39% and a negative net margin of 1.94%.During the same quarter in the previous year, the business earned $0.25 EPS. As a group, equities research analysts expect that Navient will post 0.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Tudor Investment Corp ET AL grew its stake in Navient by 66.2% in the third quarter. Tudor Investment Corp ET AL now owns 590,581 shares of the credit services provider’s stock worth $7,766,000 after purchasing an additional 235,142 shares during the period. Lighthouse Investment Partners LLC lifted its position in Navient by 790.1% during the third quarter. Lighthouse Investment Partners LLC now owns 1,590,339 shares of the credit services provider’s stock valued at $20,913,000 after buying an additional 1,411,662 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Navient by 20.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,484,742 shares of the credit services provider’s stock valued at $32,302,000 after buying an additional 418,161 shares in the last quarter. WINTON GROUP Ltd boosted its holdings in shares of Navient by 208.4% during the 4th quarter. WINTON GROUP Ltd now owns 292,120 shares of the credit services provider’s stock valued at $3,798,000 after buying an additional 197,395 shares in the last quarter. Finally, Highbridge Capital Management LLC bought a new stake in shares of Navient during the 4th quarter valued at $845,000. Hedge funds and other institutional investors 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.