Zacks Investment Research downgraded shares of Navigant Consulting Inc. (NCI) from OUTPERFORM to NEUTRAL on August 16, 2013, with a target price of $15.00.
Navigant reported strong second quarter 2013 results with healthy increase in revenue and earnings year over year. The company's strategy of inorganic expansion is likely to further propel its growth momentum. Navigant is also restructuring its business in order to better align the capacity with demand and has diligently reduced its operating expenses to improve profitability. Share repurchase activity also remains to be another positive for the stock. However, increased currency fluctuations, stiff competition, and regulatory stringencies are likely to peg back its profitability to some extent. We have changed our long-term recommendation from Outperform to Neutral for the stock as we anticipate it to perform in-line with the broader market.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
To get a free copy of the research report on Navigant Consulting Inc. (NCI),
click here.
For more information about research offerings from Zacks Investment Research, visit
Zacks.com .
Be the first to comment