Navistar Rating Reiterated by Goldman Sachs (NAV)
The analysts wrote, “We view the development as a positive for Neutral-rated NAV as its (1) product development schedule is on track and (2) truck margin structure is significantly stronger on CMI 15 liter engines than proprietary 13-liter engines, contrary to consensus views. NAV’s truck production market share was 16% in January, up from 14% in December but below 17% in 2012. We maintain our Neutral rating as we continue to see meaningful execution risk, but moving to production on the 15 liter platform is clearly a positive.”
Navistar traded down 2.90% on Friday, hitting $24.11. Navistar has a 1-year low of $18.17 and a 1-year high of $43.06. The stock’s 50-day moving average is currently $25.22. The company’s market cap is $1.930 billion.
Navistar last posted its quarterly earnings results on Wednesday, December 19th. The company reported ($40.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.12) by $39.01. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.18 billion. During the same quarter in the previous year, the company posted $3.37 earnings per share. The company’s revenue for the quarter was down 24.1% on a year-over-year basis. Analysts expect that Navistar will post $-2.77 EPS for the current fiscal year.
NAV has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Navistar in a research note to investors on Thursday, January 17th. They now have a $25.00 price target on the stock. Separately, analysts at RBC Capital cut their price target on shares of Navistar from $27.00 to $24.00 in a research note to investors on Friday, December 21st. They now have a “sector perform” rating on the stock. Finally, analysts at UBS AG cut their price target on shares of Navistar from $30.00 to $27.00 in a research note to investors on Thursday, December 20th. They now have a “buy” rating on the stock.
Six investment analysts have rated the stock with a buy rating, one has assigned an overweight rating, ten have issued a hold rating, and three have issued a sell rating to the stock. Navistar currently has a consensus rating of “hold” and a consensus target price of $26.64.
Navistar International Corporation (NIC) is a holding company, whose principal operating subsidiaries are Navistar, Inc.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.