Navistar Snags Another Downgrade Despite Pop in Shares

Cars and Drivers

Published: August 3, 2012 10:59 am

Last Updated: August 3, 2012 11:01 am

Navistar International Corp. (NYSE: NAV) is trading higher today after some of yesterday’s big trading losses, but a research note is likely going to weigh on the shares even if it is from a small research firm. A firm called Barrington Research has lowered its rating to Market Perform from Outperform based upon the headwinds and upon a loss in the quarter that will create a long-term dig out from its engine strategy. Barrington referred to the transition period as a painful one.

Navistar shares have traded in a 52-week range of $20.07 to $48.18, and shares were down as low as $21.53 Friday morning. Investors need to be advised here that the 52-week low is just from Thursday.

As of 10:55 AM EST, we have Navistar shares up by some 4.3% at $22.37 on the day.

JON C. OGG

Take This Retirement Quiz To Get Matched With An Advisor Now ^(Sponsored)

Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.

Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.

Click here now to get started.