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

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

A number of other research firms have also commented on NAVI. Bank of America initiated coverage on Navient in a research report on Monday, September 30th. They set a “neutral” rating and a $17.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on shares of Navient from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, October 7th. Barclays raised their price objective on shares of Navient from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods upped their price target on Navient from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Three investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $15.78.

Navient Trading Down 1.7 %

NASDAQ:NAVI traded down $0.24 during mid-day trading on Friday, hitting $13.99. The company had a trading volume of 290,330 shares, compared to its average volume of 782,430. The company has a debt-to-equity ratio of 16.59, a quick ratio of 9.99 and a current ratio of 9.49. The firm has a market cap of $1.53 billion, a P/E ratio of 20.28 and a beta of 1.39. The business’s fifty day moving average is $15.62 and its two-hundred day moving average is $15.31. Navient has a fifty-two week low of $13.95 and a fifty-two week high of $19.68.

Hedge Funds Weigh In On Navient

Hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of Navient in the first quarter valued at approximately $36,000. IAG Wealth Partners LLC acquired a new stake in Navient during the second quarter worth approximately $50,000. Signaturefd LLC increased its stake in shares of Navient by 22.1% during the second quarter. Signaturefd LLC now owns 4,797 shares of the credit services provider’s stock worth $70,000 after purchasing an additional 869 shares during the period. nVerses Capital LLC acquired a new position in shares of Navient during the 3rd quarter worth approximately $87,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in Navient during the third quarter worth approximately $95,000. Institutional investors 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.