Navient (NASDAQ:NAVI) Given New $16.00 Price Target at Bank of America

Navient (NASDAQ:NAVI - Get Free Report) had its price target lowered by investment analysts at Bank of America from $17.00 to $16.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the credit services provider's stock. Bank of America's target price indicates a potential upside of 18.34% from the stock's current price.

Several other research firms have also weighed in on NAVI. JPMorgan Chase & Co. dropped their price target on Navient from $15.50 to $15.00 and set a "neutral" rating on the stock in a research report on Monday, December 9th. TD Cowen reduced their target price on shares of Navient from $14.00 to $13.00 and set a "sell" rating on the stock in a research report on Friday, November 1st. StockNews.com raised shares of Navient from a "hold" rating to a "buy" rating in a research report on Friday, November 1st. Finally, Barclays upped their price objective on shares of Navient from $10.00 to $11.00 and gave the stock an "underweight" rating in a report on Tuesday, October 8th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $15.50.

Navient Trading Up 2.1 %

NASDAQ NAVI traded up $0.28 during trading on Tuesday, hitting $13.52. The company had a trading volume of 867,757 shares, compared to its average volume of 809,185. The company's fifty day moving average is $15.03 and its 200-day moving average is $15.16. Navient has a one year low of $13.19 and a one year high of $19.25. The company has a current ratio of 9.49, a quick ratio of 9.49 and a debt-to-equity ratio of 16.59. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 19.59 and a beta of 1.40.

Navient (NASDAQ:NAVI - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The credit services provider reported $1.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.25 by $1.20. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $150.04 million. Navient had a net margin of 1.71% and a return on equity of 8.62%. During the same period in the prior year, the firm earned $0.84 earnings per share. On average, sell-side analysts predict that Navient will post 2.47 earnings per share for the current year.

Insider Transactions at Navient

In related news, EVP Stephen M. Hauber sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $15.00, for a total value of $150,000.00. Following the completion of the transaction, the executive vice president now directly owns 256,883 shares in the company, valued at $3,853,245. The trade was a 3.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 27.99% of the company's stock.

Institutional Trading of Navient

Institutional investors and hedge funds have recently modified their holdings of the business. Signaturefd LLC lifted its holdings in shares of Navient by 22.1% during the second quarter. Signaturefd LLC now owns 4,797 shares of the credit services provider's stock valued at $70,000 after purchasing an additional 869 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Navient by 0.9% during the 2nd quarter. Victory Capital Management Inc. now owns 322,820 shares of the credit services provider's stock valued at $4,700,000 after acquiring an additional 2,991 shares during the period. Quest Partners LLC boosted its holdings in shares of Navient by 102,163.1% during the 2nd quarter. Quest Partners LLC now owns 85,901 shares of the credit services provider's stock valued at $1,251,000 after acquiring an additional 85,817 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Navient by 12.1% in the second quarter. American Century Companies Inc. now owns 1,582,928 shares of the credit services provider's stock worth $23,047,000 after acquiring an additional 171,160 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Navient by 3.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 122,024 shares of the credit services provider's stock valued at $1,777,000 after purchasing an additional 4,095 shares during the last quarter. Institutional investors own 97.14% of the company's stock.

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.