Zacks Investment Research upgraded shares of Navistar International (NYSE:NAV) from a sell rating to a hold rating in a research report sent to investors on Wednesday.

According to Zacks, “In first-quarter 2019, Navistar reported earnings per share of 11 cents, in line with the Zacks Consensus Estimate. The company reported loss of 74 cents per share in the prior-year quarter. During the quarter, revenues beat estimate and improved year over year. This improvement was due to higher volume in the company’s core markets, partly offset by higher material and freight costs and the impact of sales of a majority interest in Navistar Defense. The company anticipates strong demand for Class 6-8 trucks and buses in the United States and Canada to continue in the fiscal, similar to the prior year. Also, the company benefits from the launch of new products, boasting an improved quality and performance. However, high costs owing to premium freight and commodity prices are concerns. Additionally, the ongoing changes in the on-highway emissions standards are another headwind that might hamper the company’s profit margin.”

A number of other equities analysts have also weighed in on the stock. TheStreet upgraded shares of Navistar International from a d- rating to a c rating in a research report on Friday, March 8th. ValuEngine lowered shares of Navistar International from a hold rating to a sell rating in a research report on Saturday, March 9th. BMO Capital Markets reiterated a market perform rating and issued a $35.00 price target (down from $40.00) on shares of Navistar International in a research report on Monday, December 24th. Royal Bank of Canada dropped their price target on shares of Navistar International to $32.00 and set a market perform rating for the company in a research report on Wednesday, December 19th. Finally, Robert W. Baird upped their price target on shares of Navistar International from $53.00 to $54.00 and gave the stock an outperform rating in a research report on Wednesday, December 19th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $38.73.

Shares of NYSE NAV opened at $32.02 on Wednesday. The company has a market cap of $3.17 billion, a P/E ratio of 9.45, a price-to-earnings-growth ratio of 1.86 and a beta of 2.29. Navistar International has a 12-month low of $23.69 and a 12-month high of $44.34.

Navistar International (NYSE:NAV) last announced its earnings results on Friday, March 8th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.02). The business had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.18 billion. Navistar International had a net margin of 3.93% and a negative return on equity of 8.96%. The business’s quarterly revenue was up 27.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.74) earnings per share. On average, equities analysts predict that Navistar International will post 3.65 EPS for the current fiscal year.

In related news, Director Stephen R. D’arcy bought 3,500 shares of the stock in a transaction dated Thursday, December 20th. The shares were purchased at an average price of $26.69 per share, with a total value of $93,415.00. Following the completion of the acquisition, the director now owns 3,383 shares of the company’s stock, valued at $90,292.27. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 18.10% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Navistar International by 1.5% in the third quarter. Vanguard Group Inc. now owns 4,525,673 shares of the company’s stock worth $174,238,000 after buying an additional 68,464 shares in the last quarter. Vanguard Group Inc lifted its holdings in shares of Navistar International by 1.5% in the third quarter. Vanguard Group Inc now owns 4,525,673 shares of the company’s stock worth $174,238,000 after buying an additional 68,464 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Navistar International by 13.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,414,220 shares of the company’s stock worth $36,699,000 after buying an additional 162,543 shares in the last quarter. Ardevora Asset Management LLP lifted its holdings in shares of Navistar International by 52.6% in the fourth quarter. Ardevora Asset Management LLP now owns 1,366,542 shares of the company’s stock worth $35,462,000 after buying an additional 471,300 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Navistar International by 0.5% in the fourth quarter. Northern Trust Corp now owns 639,641 shares of the company’s stock worth $16,599,000 after buying an additional 3,106 shares in the last quarter. 78.77% of the stock is currently owned by hedge funds and other institutional investors.

Navistar International Company Profile

Navistar International Corporation, through its subsidiaries, manufactures and sells commercial and military 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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