Navistar International Co. (NYSE:NAV) Sees Large Growth in Short Interest


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Navistar International Co. (NYSE:NAV) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 6,250,000 shares, a growth of 83.8% from the December 15th total of 3,400,000 shares. Based on an average daily volume of 1,740,000 shares, the days-to-cover ratio is currently 3.6 days. Approximately 7.6% of the company’s stock are short sold.

In related news, Director Dennis Suskind sold 2,000 shares of the firm’s stock in a transaction on Wednesday, December 23rd. The shares were sold at an average price of $44.00, for a total value of $88,000.00. Following the completion of the transaction, the director now owns 11,395 shares of the company’s stock, valued at $501,380. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 18.20% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC acquired a new stake in Navistar International during the 2nd quarter worth approximately $25,000. Strs Ohio acquired a new stake in shares of Navistar International during the third quarter worth $52,000. Public Employees Retirement System of Ohio lifted its holdings in Navistar International by 515.9% in the second quarter. Public Employees Retirement System of Ohio now owns 2,279 shares of the company’s stock valued at $64,000 after buying an additional 1,909 shares during the period. Nisa Investment Advisors LLC boosted its position in Navistar International by 282.6% during the third quarter. Nisa Investment Advisors LLC now owns 1,760 shares of the company’s stock valued at $77,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in Navistar International in the second quarter worth approximately $100,000. 69.20% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have weighed in on the company. Loop Capital lowered Navistar International from a “buy” rating to a “hold” rating in a research report on Wednesday, October 14th. Jefferies Financial Group cut shares of Navistar International from a “buy” rating to a “hold” rating and set a $44.50 price target for the company. in a research note on Friday, October 23rd. ValuEngine lowered shares of Navistar International from a “buy” rating to a “hold” rating in a research note on Tuesday, December 1st. BidaskClub downgraded shares of Navistar International from a “hold” rating to a “sell” rating in a research note on Saturday, January 9th. Finally, Zacks Investment Research raised Navistar International from a “hold” rating to a “strong-buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, November 3rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $37.17.

NAV stock opened at $43.97 on Thursday. Navistar International has a fifty-two week low of $15.01 and a fifty-two week high of $45.25. The stock has a market capitalization of $4.38 billion, a price-to-earnings ratio of -488.50 and a beta of 2.24. The business’s fifty day moving average price is $44.08 and its two-hundred day moving average price is $39.10.

Navistar International (NYSE:NAV) last released its quarterly earnings results on Wednesday, December 16th. The company reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.88. Navistar International had a negative net margin of 0.11% and a negative return on equity of 1.66%. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the firm earned $1.02 earnings per share. Navistar International’s revenue for the quarter was down 25.7% compared to the same quarter last year. Equities research analysts expect that Navistar International will post -0.28 earnings per share for the current fiscal year.

Navistar International Company Profile

Navistar International Corporation, through its subsidiaries, manufactures and sells commercial trucks, diesel engines, school and commercial buses, and service parts for trucks and diesel engines worldwide. The company operates through four segments: Truck, Parts, Global Operations, and Financial Services.

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