TD Cowen Lowers Navient (NASDAQ:NAVI) Price Target to $13.00

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

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. raised their target price on Navient from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, October 7th. Keefe, Bruyette & Woods boosted their target price on Navient from $15.00 to $16.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Bank of America initiated coverage on Navient in a report on Monday, September 30th. They set a “neutral” rating and a $17.00 price target on the stock. Finally, Barclays boosted their price objective on shares of Navient from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 8th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $15.78.

Navient Stock Performance

Shares of NAVI opened at $13.99 on Friday. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 20.28 and a beta of 1.39. The company’s fifty day moving average is $15.58 and its 200-day moving average is $15.28. The company has a quick ratio of 9.99, a current ratio of 9.49 and a debt-to-equity ratio of 16.59. Navient has a 12 month low of $13.95 and a 12 month high of $19.68.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Donald Smith & CO. Inc. increased its stake in Navient by 27.8% during the third quarter. Donald Smith & CO. Inc. now owns 3,581,311 shares of the credit services provider’s stock valued at $55,833,000 after acquiring an additional 779,973 shares during the period. American Century Companies Inc. raised 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 valued at $23,047,000 after purchasing an additional 171,160 shares in the last quarter. Empowered Funds LLC lifted its position in Navient by 7.7% in the first quarter. Empowered Funds LLC now owns 391,401 shares of the credit services provider’s stock worth $6,810,000 after purchasing an additional 27,997 shares during the period. Edgestream Partners L.P. increased its holdings in Navient by 90.9% in the 1st quarter. Edgestream Partners L.P. now owns 386,379 shares of the credit services provider’s stock valued at $6,723,000 after buying an additional 183,969 shares during the period. Finally, Victory Capital Management Inc. raised its stake in shares of Navient by 0.9% in 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 buying an additional 2,991 shares in the last quarter. 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.