Zacks Investment Research lowered shares of Navistar International (NYSE:NAV) from a buy rating to a hold rating in a research report released on Friday morning, Zacks.com reports. The brokerage currently has $36.00 price objective on the stock.

According to Zacks, “In the second quarter of fiscal 2019, Navistar’s earnings and revenues surpassed the respective Zacks Consensus Estimate. Robust backlogs and improving market share aided the company’s financials. Further, it upgraded its outlook for fiscal 2019 on these positive aspects. For the current fiscal year, Navistar expects revenues to be $11.25- $11.75 billion and adjusted EBITDA is projected to be $875-$925 million. Re-launching of upgraded products beside new product launches is supporting the company’s market share growth. However, declining freight demand and reduction in used truck prices are likely to hurt Navistar. Also, the ongoing changes in on-highway emission standards and high costs are other headwinds.”

Several other brokerages have also recently issued reports on NAV. ValuEngine cut Navistar International from a hold rating to a sell rating in a report on Wednesday, April 10th. Longbow Research lowered Navistar International from a buy rating to a neutral rating and set a $34.08 price target on the stock. in a report on Monday, May 6th. Finally, TheStreet upgraded Navistar International from a d- rating to a c rating in a report on Friday, March 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $37.11.

Shares of NAV opened at $33.82 on Friday. The company has a market cap of $3.39 billion, a PE ratio of 9.98, a PEG ratio of 0.57 and a beta of 2.21. Navistar International has a 1 year low of $23.69 and a 1 year high of $44.34.

Navistar International (NYSE:NAV) last issued its quarterly earnings data on Tuesday, June 4th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.18. The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $2.70 billion. Navistar International had a negative return on equity of 10.59% and a net margin of 2.83%. The company’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.55 EPS. As a group, equities research analysts predict that Navistar International will post 3.88 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the stock. Redwood Investment Management LLC raised its holdings in Navistar International by 9.8% during the 1st quarter. Redwood Investment Management LLC now owns 30,615 shares of the company’s stock valued at $989,000 after buying an additional 2,722 shares during the period. Sandbar Asset Management LLP purchased a new stake in Navistar International during the 1st quarter valued at $3,681,000. Ladenburg Thalmann Financial Services Inc. raised its holdings in Navistar International by 94.8% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,551 shares of the company’s stock valued at $50,000 after buying an additional 755 shares during the period. Metropolitan Life Insurance Co NY raised its holdings in Navistar International by 10.0% during the 1st quarter. Metropolitan Life Insurance Co NY now owns 17,550 shares of the company’s stock valued at $71,000 after buying an additional 1,600 shares during the period. Finally, Oxford Asset Management LLP purchased a new stake in Navistar International during the 1st quarter valued at $1,094,000. Institutional investors own 76.91% of the company’s stock.

About Navistar International

Navistar International Corporation, through its subsidiaries, manufactures and sells commercial and military trucks, diesel engines, school and commercial buses, and service parts for trucks and diesel engines worldwide. The company operates through four segments: Truck, Parts, Global Operations, and Financial Services.

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