Navistar International Corp (NYSE:NAV) Sees Significant Decline in Short Interest

Navistar International Corp (NYSE:NAV) saw a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 1,960,000 shares, a decrease of 11.3% from the September 30th total of 2,210,000 shares. Approximately 2.4% of the company’s stock are sold short. Based on an average daily volume of 480,700 shares, the short-interest ratio is currently 4.1 days.

Shares of NAV traded down $0.50 during mid-day trading on Monday, reaching $32.52. 193,956 shares of the company’s stock were exchanged, compared to its average volume of 461,693. The stock has a market capitalization of $3.28 billion, a PE ratio of 9.59, a price-to-earnings-growth ratio of 0.65 and a beta of 2.23. The business’s fifty day simple moving average is $30.05 and its 200-day simple moving average is $30.22. Navistar International has a 52-week low of $21.32 and a 52-week high of $39.52.

Navistar International (NYSE:NAV) last announced its earnings results on Wednesday, September 4th. The company reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.35. The business had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.92 billion. Navistar International had a net margin of 2.60% and a negative return on equity of 11.82%. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period last year, the firm posted $1.71 earnings per share. As a group, equities analysts forecast that Navistar International will post 3.93 EPS for the current year.

Several equities analysts have commented on NAV shares. Wells Fargo & Co dropped their price target on shares of Navistar International from $35.00 to $27.00 and set a “market perform” rating on the stock in a research note on Thursday, September 5th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $33.00 price target on shares of Navistar International in a research note on Monday. OTR Global lowered shares of Navistar International from a “mixed” rating to a “negative” rating in a research note on Wednesday, October 9th. UBS Group dropped their price target on shares of Navistar International from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Finally, Robert W. Baird set a $38.00 target price on shares of Navistar International and gave the stock a “buy” rating in a research report on Monday, September 23rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. Navistar International has a consensus rating of “Hold” and an average target price of $33.23.

Several institutional investors and hedge funds have recently made changes to their positions in NAV. Walleye Trading Advisors LLC acquired a new stake in shares of Navistar International during the second quarter worth $324,000. Banco de Sabadell S.A acquired a new stake in shares of Navistar International during the second quarter worth $1,814,000. Boston Advisors LLC lifted its holdings in shares of Navistar International by 61.1% during the third quarter. Boston Advisors LLC now owns 41,292 shares of the company’s stock worth $1,161,000 after purchasing an additional 15,657 shares during the period. Aperio Group LLC lifted its holdings in shares of Navistar International by 9.9% during the second quarter. Aperio Group LLC now owns 14,330 shares of the company’s stock worth $494,000 after purchasing an additional 1,287 shares during the period. Finally, Mackay Shields LLC acquired a new stake in shares of Navistar International during the third quarter worth $3,367,000. Institutional investors and hedge funds own 74.16% of the company’s stock.

About Navistar International

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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