Robert W. Baird Cuts Navistar to Neutral (NAV)
Navistar (NYSE: NAV) was downgraded by equities researchers at Robert W. Baird from an “outperform” rating to a “neutral” rating in a report issued on Tuesday. They currently have a $31.00 target price on the stock, down from their previous target price of $56.00.
Shares of Navistar opened at 27.52 on Tuesday. Navistar has a 52 week low of $25.50 and a 52 week high of $59.06. The company has a market cap of $1.886 billion and a P/E ratio of 1.32.
Navistar last announced its earnings results on Thursday, March 8th. The company reported ($2.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by $1.80. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. On average, analysts predict that Navistar will post $1.76 earnings per share next quarter.
A number of other analysts have also recently weighed in on NAV. Analysts at Jefferies Group (NYSE: JEF) reiterated a “buy” rating on shares of Navistar in a research note to investors on Wednesday, May 30th. They now have a $47.00 price target on the stock, up previously from $45.00. Finally, analysts at Avondale Partners downgraded shares of Navistar from an “outperform” rating to a “market perform” rating in a research note to investors on Friday, April 20th. They now have a $43.00 price target on the stock, down previously from $55.00.
Navistar International Corporation (NIC) is a holding company, whose principal operating subsidiaries are Navistar, Inc.