Piper Jaffray Downgrades Navistar International Corp to Neutral

Brokerage firm Piper Jaffray Downgrades its rating on Navistar International Corp(NYSE:NAV). The shares have been rated Neutral. Previously, the analysts had a Overweight rating on the shares. The rating by Piper Jaffray was issued on Jun 28, 2016.

In a different note, On Jun 14, 2016, Stifel Nicolaus said it Downgrades its rating on Navistar International Corp. The shares have been rated ‘Sell’ by the firm.

Navistar International Corp (NAV) made into the market gainers list on Fridays trading session with the shares advancing 3.68% or 0.43 points. Due to strong positive momentum, the stock ended at $12.12, which is also near the day’s high of $12.51. The stock began the session at $11.76 and the volume stood at 9,83,625 shares. The 52-week high of the shares is $22.86 and the 52 week low is $5.775. The company has a current market capitalization of $989 M and it has 8,16,01,786 shares in outstanding.

Navistar International Corp(NAV) last announced its earnings results on Jun 7, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $2.20B. Analysts had an estimated revenue of $2.19B. Earnings per share were $0.05. Analysts had estimated an EPS of $-0.15.

Navistar International Corporation (NIC) is a holding company whose principal operating subsidiaries are Navistar Inc. and Navistar Financial Corporation (NFC). The Company is a manufacturer of International brand commercial and military trucks MaxxForce brand diesel engines IC Bus (IC) brand school and commercial buses as well as a provider of service parts for trucks and diesel engines. It also provides retail wholesale and lease financing of trucks and parts. The Company operates in four reporting segments which comprises: North America Truck North America Parts Global Operations (collectively referred to as Manufacturing operations) and Financial Services. Its principal products and services include Trucks Parts Engines and Financial Services.

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