Navistar International Corporation (NYSE:NAV) is on the right track


Dallas, Texas 07/16/2013 (Financialstrend) – Recently, Navistar International Corporation (NYSE:NAV) announced amendments to settlement agreements with each of MHR Fund Management LLC (“MHR”), Icahn Partners (“Icahn”) and the company’s Stockholder Rights Plan (the “Rights Plan”). This agreement states that at the company’s Annual Shareholders’ Meeting to be held in February 2014 for election of members to the Board of Directors, each of MHR and Icahn will be provided with the opportunity to designate two nominees. Both companies agreed not to engage proxy contest at the meeting.

Buckingham Research’s equities research analysts assigned a “buy” rating on the stocks of Navistar International Corporation (NYSE: NAV). In a research note, Zacks assigned a “neutral” rating on shares of Navistar International Corp. Meanwhile, nine analysts rated the stock as “hold”, five gave a “buy” and one investment analyst assigned a “sell” rating for the stock. The company currently has a “hold” rating. The stock price of the company is declining, as there is change in top management, since Andrew J. Cederoth, executive vice president and chief financial officer of Navistar International Corporation (NYSE:NAV) will be leaving the company at the end of the month.

Intraday range was from a low price of $31.50 to a high price of $32.34. The share price of Navistar International Corp (NYSE: NAV) currently trading at $32.02, an increase of 0.06%. The price range of Navistar International for the past 52 weeks was from $18.17 to $38.81. The stock opened at the price of $31.97 with a market capitalization of $2.57 billion and 80.40 million outstanding shares. With an institutional ownership of 105%, the trading volume for the day of Navistar International was 0.701 million and the average trading volume amounted to 1.63 million shares.