In a report released yesterday, Dominick Gabriele from Oppenheimer maintained a Hold rating on Navient (NAVI). The company’s shares closed yesterday at $11.59.
Gabriele noted:
“We had the opportunity to meet CEO Jack Remondi and CFO Chris Lown. We walked away encouraged by management’s fierce focus on expense efficiency, while balancing both growth opportunities and maintaining best-in-class capital return. Since taking over coverage last year we have been steadfast in recommending companies that are less asset-sensitive than peers. NAVI is one of the few stocks in our space that is liability sensitive. As investors continue to look for defensive plays in an economy that seems set to slow, we can see how investors could focus on the stable/predictable cash flows and loss-sharing arrangements FFELP can provide. Key takeaways: In-school origination targets seem modest, NIM pressure could somewhat abate while cost-cutting initiatives remain a focus.”
According to TipRanks.com, Gabriele is a 1-star analyst with an average return of -2.0% and a 42.3% success rate. Gabriele covers the Financial sector, focusing on stocks such as Discover Financial Services, Credit Acceptance Corp, and Santander Consumer USA.
The word on The Street in general, suggests a Hold analyst consensus rating for Navient with a $13 average price target.
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The company has a one-year high of $15.03 and a one-year low of $8.23. Currently, Navient has an average volume of 2.06M.
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Navient Corp. engages in the provision of asset management and business processing solutions for education, healthcare, and government clients at the federal, state, and local levels. It operates through the following segments: Federal Family Education Loan Program (FFELP) Loans, Private Education Loans, Business Services, and Other.
