Better Execution At Navistar, But Cycle Is Down
Alpha Gen Capital
Alpha Gen Capital
Navistar On Better Footing, But Still Shaky
Stephen Simpson, CFA
Stephen Simpson, CFA
Fri, Jul. 8, 12:00 PM
Tue, Jul. 5, 2:18 PM
- Truckmakers face heavy fines from the European Union over price fixing charges, according to Bloomberg.
- Although some truck manufacturers have set aside provisions to pay for the expected penalties, it's unclear which companies will end up having the largest exposure.
- The sector is down across the board on the day, including PACCAR (NASDAQ:PCAR) -3.1%, Navistar (NYSE:NAV) -9.1%, Daimler (OTCPK:DDAIF) -5.4%, Volvo (OTCPK:VOLVY) ADRS -6.1%, Supreme Industries (NYSEMKT:STS) -8.5%, and CNH Industrial (NYSE:CNHI) -6.6%.
Tue, Jul. 5, 12:00 PM
Wed, Jun. 29, 12:00 PM
Tue, Jun. 28, 2:42 PM
- WABCO (WBC -2%) is downgraded to Neutral from Overweight with a $94 price target, cut from $124, at Piper Jaffray, which says the company has the highest European exposureamong truck suppliers at 55% of 2015 revenue.
- Investors likely will shun WBC as investors looking to minimize their exposure to Europe over the coming months, the firm says.
- Piper Jaffray also downgrades Navistar (NAV -0.3%) to Neutral from Overweight with an $11.50 price target, cut from $14; even though Brexit-related risks are low for NAV, investors likely will look for safer options given declining orders in the U.S. truck market.
- Finally, the firm cuts Meritor (MTOR -9.6%) to Underweight from Neutral with a $6 target, citing the company's 20% of revenues that come from Europe and its 75% debt-to-capital ratio.
- WBC also is downgraded to Neutral from Buy with a $95 price target at Goldman Sachs, which also cites the company's European truck market exposure in cutting 2017-18 earnings estimates.
Fri, Jun. 24, 12:00 PM
Thu, Jun. 16, 12:00 PM
Wed, Jun. 15, 12:00 PM
Tue, Jun. 14, 1:51 PM
- EV truck maker Nikola Motors has taken a page out of the Tesla playbook by releasing pre-order information and scheduling an unveiling event for later in the year.
- The startup has taken down 7K reservations with deposits for the Nikola One electric truck. The reservations total $2.3B worth of orders. The Nikola One is promised to have 2,000-horsepower, 1,200 miles of range, and a 320-kWh battery.
- The class 8 semi-truck is due to be unveiled by the company at an event on December 2.
- "Our technology is 10-15 years ahead of any other OEM in fuel efficiencies, MPG and emissions. Weare the onlyOEM to have a near zeroemission truck and stilloutperform diesel truck runningat 80,000 pounds," says CEO Trevor Milton.
- "We believe wewill pass the current market leaderslike Daimler, PACCAR, Volvo andNavistar in sales orderswithin the next12-24 months," adds the exec.
- Related stocks: NAV, PCAR, OTCPK:GELYF, OTCPK:DDAIF, OTCPK:VOLVY, OTCPK:VOLVF.
Tue, Jun. 14, 12:00 PM
Tue, Jun. 14, 8:54 AM
- Navistar (NYSE:NAV) slides in early trading after Stifel Nicolaus downgrades the stock to Sell.
- Stifel issues a lowly price target of $10 on a dour view of Navistar.
- "We believe Navistar may struggle to meet analysts’ estimates given our outlook for a multi-year period of declining heavy and medium duty truck production, which could impair the company’s ability to regain lost market share in a period of excess industry capacity," reads the note from analyst Michael Baudendiste.
- NAV -3.95% premarket to $12.63.
Thu, Jun. 9, 9:36 AM
- Navistar (NYSE:NAV) announces it has reached an agreement with General Motors to manufacture the cutaway model of GM's G Van at Navistar's Springfield, Ohio plant starting in the first half of 2017.
- With this multi-year contract, Navistar will add at least 300 jobs and recommission its second line at the plant.
- "We're very pleased to partner with GM on this important manufacturing opportunity," says Persio Lisboa, president, Navistar operations.
- Navistar and GM are not disclosing any further details of the agreement at this time.
- Source: Press Release
Tue, Jun. 7, 1:42 PM
- Navistar (NYSE:NAV) is up 20% after FQ2 earnings were reported to push back to its level of about ten weeks ago.
- Baird isn't quite convinced that the rally will sustain after the company's earnings beat and guidance update (below estimates).
- "We believe the stock bounce is largely short covering after the FQ2 beat. Short interest has already fallen one-third since the beginning of the year (now at 14% of float)," reads the note from analyst David Leiker.
- "We remain on the sidelines as volumes continue to decline on North America market weakness and stable order share," adds Leiker.
- Previously: Navistar beats by $0.21, beats on revenue (June 7)
- Previously: Navistar reduced its guidance for FY2016 (June 7)
Tue, Jun. 7, 12:50 PM
Tue, Jun. 7, 12:00 PM
Tue, Jun. 7, 9:13 AM
Navistar International Corp. manufacturers commercial trucks, buses, defense vehicles and engines. The company is engaged in the manufacturer of International brand commercial and military trucks, IC Bus brand buses and MaxxForce brand diesel engines under the Monaco RV family of brands. It also... More
Sector: Consumer Goods
Industry: Trucks & Other Vehicles
Country: United States
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