Navistar International Corp (NYSE:NAV) stock is trading up big this afternoon, thanks to several tidbits of news. The American holding company which was founded way back in 1902 has just received an upgrade by Zacks Investment Research to “Hold”. In addition to this, the company also released their Q4 earnings today, with mixed results.
Navistar International Corp (NYSE:NAV) reported earnings of $0.62 per share for the quarter, which missed the Street’s expectations of $0.54 to $1.16. Earnings totaled $2.5 billion which fell slightly short of Wall Street’s prediction of $2.54 billion. The good news, however, is that NAV reported a net loss of just $50 million, compared to a loss of $72 million for the same quarter last year. 2015 adjusted EBITDA came in at $494 million compared to $306 million adjusted EBITDA for 2014.
The stock is up 10.47% or $0.85 following the news, hitting $8.97 per share. About 2.67M shares traded hands or up 61.82% from the average. NAV has declined 72.19% since May 14, 2015 and is currently downtrending. It has underperformed the S&P500 by 69.93%.
From a total of 13 analysts covering Navistar International Corporation (NYSE:NAV) stock, 1 rate it a “Buy”, 4 a “Sell”, and 8 a “Hold”. This means that 8% of the ratings are positive. The highest target price is $40 while the lowest target price is $9. The mean of all analyst targets is $18.46 which is 105.80% above today’s ($8.97) stock price. Navistar International Corporation was the topic of 22 analyst reports since July 27, 2015 according to the firm StockzIntelligence Inc. Longbow downgraded shares on October 16 to a “Neutral” rating. Goldman Sachs downgraded shares to a”Sell” rating and a $12 target share price in their report from a July 27. Global Hunter Securities downgraded NAV stock in a recent report from September 28 to a “Neutral” rating. Finally, RBC Capital Markets maintained the stock with a “Sector Perform” rating in a report they issued on a September 8.
Navistar International Corporation is a holding company, whose principal operating subsidiaries are Navistar, Inc. and Navistar Financial Corporation (NFC). The company has a market cap of $654.66 million. The Firm is a maker of International brand commercial and military trucks, MaxxForce brand diesel engines, IC Bus (IC) brand school and commercial buses, as well as a well-known provider of service parts for trucks and diesel engines. It currently has negative earnings. It also provides retail, wholesale, and lease financing of trucks and parts.