Navigant Consulting (NCI) Cut to Sell at Zacks Investment Research
Zacks Investment Research cut shares of Navigant Consulting (NYSE:NCI) from a hold rating to a sell rating in a research report released on Tuesday morning.
According to Zacks, “Navigant continues to face challenges on both the domestic and international fronts. This is primarily attributable to the difficulties in managing and staffing foreign operations, relatively limited new assignments, currency fluctuations and regulatory stringencies due to the uncertainty in the global economy. The consulting industry has low barriers to entry and it’s easier for consultants to start their own businesses. While hiring and retention of personnel are keys to driving revenues, full-time equivalent levels and related consultant compensation in excess of demand drive additional costs and can negatively impact the company’s margins. However, Navigant has outperformed the industry on an average in the last three months. By utilizing its strong cash flow generation capacity, Navigant continues to return capital to its shareholders and make investments in technology, new capabilities and client channels.”
Separately, TheStreet upgraded shares of Navigant Consulting from a c+ rating to a b- rating in a report on Monday, November 27th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $24.00.
In related news, Director Randy H. Zwirn sold 5,000 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $17.46, for a total value of $87,300.00. Following the sale, the director now owns 21,226 shares in the company, valued at approximately $370,605.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.32% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of NCI. Macquarie Group Ltd. acquired a new stake in shares of Navigant Consulting in the 3rd quarter worth about $19,124,000. Voya Investment Management LLC raised its holdings in shares of Navigant Consulting by 2,117.0% in the 2nd quarter. Voya Investment Management LLC now owns 543,026 shares of the business services provider’s stock worth $10,730,000 after acquiring an additional 518,532 shares during the last quarter. Tributary Capital Management LLC raised its holdings in shares of Navigant Consulting by 21.8% in the 3rd quarter. Tributary Capital Management LLC now owns 1,067,121 shares of the business services provider’s stock worth $18,056,000 after acquiring an additional 190,698 shares during the last quarter. Tieton Capital Management LLC raised its holdings in shares of Navigant Consulting by 157.6% in the 3rd quarter. Tieton Capital Management LLC now owns 241,094 shares of the business services provider’s stock worth $4,079,000 after acquiring an additional 147,510 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Navigant Consulting by 47.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 443,779 shares of the business services provider’s stock worth $8,769,000 after acquiring an additional 143,756 shares during the last quarter. Institutional investors own 88.50% of the company’s stock.
ILLEGAL ACTIVITY WARNING: This news story was first reported by Watch List News and is the sole property of of Watch List News. If you are accessing this news story on another domain, it was stolen and reposted in violation of U.S. and international copyright and trademark law. The legal version of this news story can be accessed at https://www.watchlistnews.com/navigant-consulting-nci-cut-to-sell-at-zacks-investment-research/1827010.html.
About Navigant Consulting
Navigant Consulting, Inc is a global professional services company. The Company serves clients in the healthcare, energy and financial services industries. It operates through four segments. The Healthcare segment provides consulting services and business process management services. The Energy segment provides advisory solutions in business strategy and planning, distributed energy resources and renewables, energy efficiency and demand response and grid modernization The Financial Services Advisory and Compliance segment provides strategic, operational, valuation, risk management, investigative and compliance advisory services to clients primarily in the financial services industry.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Navigant Consulting Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Navigant Consulting and related companies with MarketBeat.com's FREE daily email newsletter.