BMO Capital Markets Raises Navient (NAVI) Price Target to $16.00

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Navient (NASDAQ:NAVI) had its price objective upped by BMO Capital Markets from $14.00 to $16.00 in a research note issued on Thursday, BenzingaRatingsTable reports. The firm presently has a “market perform” rating on the credit services provider’s stock. BMO Capital Markets’ target price would suggest a potential upside of 19.49% from the stock’s current price.

NAVI has been the subject of several other reports. BidaskClub raised shares of Navient from a “hold” rating to a “buy” rating in a research note on Friday, January 25th. Zacks Investment Research raised shares of Navient from a “sell” rating to a “hold” rating in a research note on Monday, February 25th. Oppenheimer reissued a “hold” rating on shares of Navient in a research note on Friday, January 25th. Finally, JPMorgan Chase & Co. raised shares of Navient from an “underweight” rating to a “neutral” rating and lowered their price objective for the company from $13.00 to $12.00 in a research note on Wednesday, January 16th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. Navient has a consensus rating of “Hold” and an average target price of $15.21.

NAVI stock traded up $0.43 during midday trading on Thursday, hitting $13.39. The stock had a trading volume of 2,273,933 shares, compared to its average volume of 1,330,731. The stock has a market capitalization of $3.04 billion, a P/E ratio of 6.41, a PEG ratio of 2.09 and a beta of 2.29. The company has a debt-to-equity ratio of 26.37, a quick ratio of 17.67 and a current ratio of 17.67. Navient has a 12-month low of $8.23 and a 12-month high of $15.02.

Navient (NASDAQ:NAVI) last released its earnings results on Tuesday, April 23rd. The credit services provider reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.12. The firm had revenue of $285.00 million during the quarter, compared to analysts’ expectations of $304.67 million. Navient had a net margin of 6.99% and a return on equity of 14.85%. During the same period in the previous year, the company earned $0.43 EPS. Research analysts forecast that Navient will post 1.98 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of NAVI. Doyle Wealth Management acquired a new position in shares of Navient during the 4th quarter valued at $46,000. Bessemer Group Inc. raised its stake in shares of Navient by 165.5% in the 4th quarter. Bessemer Group Inc. now owns 5,437 shares of the credit services provider’s stock valued at $48,000 after purchasing an additional 3,389 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Navient in the 4th quarter valued at about $93,000. Signition LP raised its stake in shares of Navient by 13.6% in the 4th quarter. Signition LP now owns 11,362 shares of the credit services provider’s stock valued at $100,000 after purchasing an additional 1,358 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of Navient by 781.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 907,606 shares of the credit services provider’s stock valued at $103,000 after purchasing an additional 804,586 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

About Navient

Navient Corporation provides education loan management and business processing solutions for education, healthcare, and government clients at the federal, state, and local levels in the United States. It operates in three segments: Federal Education Loans, Consumer Lending, and Business Processing. The company holds and acquires Federal Family Education Loan Program loans that are insured or guaranteed by state or not-for-profit agencies; and performs servicing and asset recovery services on its own loan portfolio, and federal education loans owned by the United States Department of Education and other institutions.

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