Navient (NASDAQ:NAVI) Rating Increased to Hold at TD Cowen

Navient (NASDAQ:NAVI) was upgraded by investment analysts at TD Cowen from a “strong sell” rating to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

A number of other research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of Navient from $15.00 to $13.50 and set a “neutral” rating for the company in a report on Tuesday, January 14th. StockNews.com cut shares of Navient from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Bank of America cut their price target on Navient from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Tuesday, December 24th. Seaport Res Ptn raised shares of Navient from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 21st. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Navient from $16.00 to $14.00 and set a “market perform” rating for the company in a research report on Monday. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $13.50.

Navient Stock Performance

NASDAQ NAVI opened at $12.98 on Wednesday. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 11.19 and a beta of 1.36. The business’s 50 day moving average is $13.67 and its two-hundred day moving average is $14.39. Navient has a 12-month low of $12.35 and a 12-month high of $17.56. The company has a current ratio of 9.48, a quick ratio of 9.49 and a debt-to-equity ratio of 16.35.

Navient (NASDAQ:NAVI) last announced its quarterly earnings data on Wednesday, January 29th. The credit services provider reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Navient had a return on equity of 6.69% and a net margin of 2.96%. Research analysts expect that Navient will post 1.04 EPS for the current year.

Institutional Investors Weigh In On Navient

Several hedge funds have recently modified their holdings of the stock. American Century Companies Inc. grew its position in Navient by 6.4% in the fourth quarter. American Century Companies Inc. now owns 1,822,583 shares of the credit services provider’s stock valued at $24,222,000 after acquiring an additional 109,229 shares in the last quarter. Northern Trust Corp increased its stake in Navient by 14.6% during the 4th quarter. Northern Trust Corp now owns 1,567,466 shares of the credit services provider’s stock worth $20,832,000 after buying an additional 199,937 shares during the period. Wellington Management Group LLP lifted its holdings in Navient by 47.4% in the 4th quarter. Wellington Management Group LLP now owns 1,315,841 shares of the credit services provider’s stock worth $17,488,000 after buying an additional 423,013 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Navient by 0.9% in the 4th quarter. Bank of New York Mellon Corp now owns 1,149,599 shares of the credit services provider’s stock valued at $15,278,000 after buying an additional 10,788 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Navient by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,092,270 shares of the credit services provider’s stock valued at $17,028,000 after acquiring an additional 19,606 shares in 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.