Published On: Wed, Sep 7th, 2016

Navistar International Corp. (NAV) Bond Prices Rise 15.8%

An issue of Navistar International Corp. (NYSE:NAV) bonds rose 15.8% against their face value during trading on Tuesday. The high-yield issue of debt has a 8.25% coupon and will mature on November 1, 2021. The debt is now trading at $98.75 and was trading at $81.63 last week. Price moves in a company’s bonds in credit markets often predict parallel moves in its stock price.
Several equities research analysts recently weighed in on the stock. Avondale Partners reiterated a “market perform” rating and set a $9.00 price objective (down previously from $12.00) on shares of Navistar International Corp. in a research note on Wednesday, June 15th. Deutsche Bank AG assumed coverage on shares of Navistar International Corp. in a research note on Tuesday. They set a “hold” rating on the stock. Wells Fargo & Co. reiterated a “hold” rating on shares of Navistar International Corp. in a research note on Wednesday, May 18th. BMO Capital Markets reiterated a “hold” rating on shares of Navistar International Corp. in a research note on Wednesday, June 8th. Finally, Jefferies Group reiterated a “buy” rating on shares of Navistar International Corp. in a research note on Wednesday, June 8th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $12.57.
Navistar International Corp. (NYSE:NAV) opened at 19.79 on Wednesday. The stock has a 50 day moving average of $13.47 and a 200 day moving average of $12.38. Navistar International Corp. has a 12-month low of $5.78 and a 12-month high of $23.45. The company’s market capitalization is $1.61 billion.
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.

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