Navient (NASDAQ:NAVI) Price Target Cut to $13.00 by Analysts at TD Cowen

Navient (NASDAQ:NAVI) had its price target reduced by research analysts at TD Cowen from $14.00 to $13.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “sell” rating on the credit services provider’s stock. TD Cowen’s price objective points to a potential downside of 7.08% from the stock’s previous close.

A number of other analysts have also recently issued reports on NAVI. JPMorgan Chase & Co. boosted their price objective on Navient from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, October 7th. Bank of America began coverage on shares of Navient in a research note on Monday, September 30th. They issued a “neutral” rating and a $17.00 price objective for the company. Barclays lifted their target price on shares of Navient from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Navient from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Three research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $15.78.

Navient Stock Performance

Shares of NAVI traded down $0.24 during trading hours on Friday, reaching $13.99. 290,330 shares of the company traded hands, compared to its average volume of 782,430. Navient has a 1-year low of $13.95 and a 1-year high of $19.68. The stock has a market cap of $1.53 billion, a P/E ratio of 20.28 and a beta of 1.39. The stock’s fifty day moving average is $15.62 and its 200 day moving average is $15.31. The company has a debt-to-equity ratio of 16.59, a quick ratio of 9.99 and a current ratio of 9.49.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NAVI. Donald Smith & CO. Inc. increased its stake in shares of Navient by 27.8% in the 3rd quarter. Donald Smith & CO. Inc. now owns 3,581,311 shares of the credit services provider’s stock valued at $55,833,000 after buying an additional 779,973 shares during the period. Jupiter Asset Management Ltd. acquired a new stake in Navient in the first quarter worth about $4,813,000. Squarepoint Ops LLC acquired a new stake in Navient in the second quarter worth about $3,345,000. Edgestream Partners L.P. raised its holdings in Navient by 90.9% during the 1st quarter. Edgestream Partners L.P. now owns 386,379 shares of the credit services provider’s stock worth $6,723,000 after purchasing an additional 183,969 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Navient by 12.1% during the 2nd quarter. American Century Companies Inc. now owns 1,582,928 shares of the credit services provider’s stock valued at $23,047,000 after purchasing an additional 171,160 shares during the period. Institutional investors and hedge funds own 97.14% of the company’s stock.

Navient Company Profile

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.