33.27 0.00 (0.00%)
After hours: 4:39PM EDT
|Bid||33.37 x 1000|
|Ask||33.37 x 800|
|Day's Range||33.15 - 34.01|
|52 Week Range||23.69 - 44.34|
|Beta (3Y Monthly)||2.16|
|PE Ratio (TTM)||10.36|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Navistar International Corporation (NAV) is looking like an interesting pick from a technical perspective, as the company is seeing favorable trends on the moving average crossover front.
It expects to give its trucks offshoot a market capitalisation of between €13.5bn and €16.5bn. With the shares priced between €27 and €33, Traton would trade on a multiple of enterprise value to 2020 ebit of between 7.4 and 9 times, using Jefferies estimates. Improvements in the weak returns of Traton’s mid-value brand Man, helped by a model upgrade next year, would be welcome.
This article is written for those who want to get better at using price to earnings ratios (P/E ratios). We'll look at...
Navistar (NAV) to invest $125 million in new manufacturing facilities at its Huntsville, AL-based engine plant. Ford's (F) recall worry continues.
Moody's Investors Service ("Moody's") has assigned definitive ratings to the notes issued by Navistar Financial Dealer Note Master Owner Trust II, Series 2019-1 Notes (NAVMOT 2019-1). Navistar Financial Corporation (NFC), an indirect wholly-owned subsidiary of Navistar International Corp. (Navistar, B2 stable), is the sponsor and servicer of the transaction.
Navistar's (NAV) latest investment anticipated to create additional job opportunities as well as back the company's plans to manufacture next-generation big-bore powertrains.
(Bloomberg) -- Walmart Inc. came to dominate retailing through its mastery of logistics—the complicated choreography of getting goods from farm or factory to the consumer. But even the world’s biggest store doesn’t make money selling its wares online in the U.S., largely due to runaway shipping costs. So Walmart is turning to robots.On a drizzly morning earlier this month, Walmart’s U.S. chief Greg Foran led reporters to a curbside package pickup kiosk outside its supercenter in Rogers, Arkansas. Idling there were three Ford delivery vans outfitted with self-driving technology developed by a Gatik, a Silicon Valley startup charged with a trial run aimed at cutting Walmart’s middle-mile shipping costs in half. Going driverless in pursuit of profit is a “no-brainer,” Foran said.As the buzz about human-carting robo-taxis starts to short-circuit, an unheralded segment of the driverless future is taking shape and showing promise: goods-moving robo-vans. Rather than serving up hot pizza pies or deploying headless robots to carry groceries to the doorstep, robo-vans travel on fixed routes from warehouse to warehouse or to a smaller pickup point, transporting packages to get them closer, but not all the way, to consumers.This may be the least glamorous part of the driverless delivery business, but the market for these monotonous “middle miles” could reach $1 trillion and may provide the fastest path to prosperity, analysts say.“This area has the least number of obstacles and the most certain return on invested capital in the near term,” said Mike Ramsey, an analyst with consultant Gartner Inc. “If you’re looking to start a business where you can actually generate revenue, this has fewer barriers than the taxi market.”Driving the demand is the boom in online shopping that has helped cause a severe shortage of truck drivers that tops 60,000 unfilled long-haul positions, according the American Trucking Associations. That has sent costs soaring for a job that is among the most dangerous due to the risk of wrecks and long periods spent on the road.Related: `Smokey and the Bandit' Charm Fades as Trucking Hiring Lags“This middle mile is the most expensive part of the whole supply chain; it’s a huge pain point,” said Gautam Narang, CEO of Gatik, which is attempting to automate Walmart’s “hub and spoke” warehouse system. “This fills a big gap in the market.”From a technological standpoint, business-to-business, or B2B, delivery is the straightforward counterpoint to the complexities of autonomous ride-hailing and driverless delivery directly to consumers, known as B2C or last-mile. Robo-vans like those being put to the test at Walmart follow fixed routes over and over, reducing the chance of mishaps and increasing their time in service generating revenue. Many of these routes are already established using human drivers today, so there’s little need to map new paths and create infrastructure to load and receive the goods.Related: Robot Rides Are Going to Deliver Pizza and Parcels Before PeopleFord Motor Co., testing many forms of driverless delivery, calls these repeatable routes “milk runs,” a throwback term to the days of household dairy delivery.“Anything on driverless delivery that is a milk run is a good application for autonomy,” said Sherif Marakby, chief executive officer of Ford’s autonomous vehicles unit. “B2C is a complex implementation for autonomy that will come with time, but B2B just makes it easier because you get volume and you can be more predictable.”The case for robots ferrying packages before people is becoming more compelling as robo-taxis struggle to gain traction. Consumers have grown wary of giving up the wheel, especially after a pedestrian was killed last year by an autonomous Uber Technologies Inc. test car. Waymo, Alphabet Inc.’s driverless unit, initiated limited automated ride-hailing in suburban Phoenix late last year with human “safety drivers” on board. General Motors Co. no longer says it will debut a similar service this year. Instead, CEO Mary Barra now says the rollout will be “gated by safety.”QuicktakeWhen the Driverless Cars Arrive, Will You Climb In?: QuickTakeDriverless delivery also has another big advantage over robo-taxis: no demanding human passengers. “People have more emotions than boxes,” Ford’s Marakby said.Meanwhile, driverless delivery is already hitting the road. Swedish startup Einride recently began low-speed robo-deliveries on public roads in its home country. It has signed up several Fortune 500 clients, like tire-maker Michelin, plus logistics service provider DB Schenker and German grocer Lidl.Looking like a Star Wars Imperial troop transport on wheels, Einride’s T-Pod trucks are 60% cheaper to build because they lack a passenger compartment. If they get into a jam, they can be remote controlled by humans from a command center. One human monitors the remote controls for 10 trucks. The T-Pods operate in self-driving mode 95% of the time, according to CEO and founder Robert Falck.Stuffed with payload and no human driver, a T-Pod can operate around the clock and cut shipping costs in half. That’s why Falck says his company is already profitable, though he declines to give specifics.“There are solid economics behind this and that’s also what the customer realizes,” Falck said. “If you break down the numbers, it’s the best business case out there.”TuSimple, a San Diego startup valued at $1.1 billion, leads a pack of tech outfits seeking to automate long-haul trucking. The company has a fleet of 50 robot Peterbilt and Navistar trucks that have been transporting commercial loads in Arizona for a year. And while it isn’t profitable yet, it expects to book revenue of more than $1 million a month in the second half of the year.“If you break down the numbers, it’s the best business case out there.”In the final two weeks of May, its self-driving big rigs—equipped with cameras that can see more than a half-mile down the road—completed 10 test runs for the U.S. Postal Service of an arduous 1,000-mile stretch from Phoenix to Dallas. Over Memorial Day weekend, the trucks faced howling crosswinds and “mud rain,” a blinding combination of dust, wind and rain. And yet the robo-rigs consistently beat human-driven trucks to the mail depot by as much as two hours. “We were approaching the edge of our operational design domain,” said Chuck Price, TuSimple’s chief product officer. “But we were able to demonstrate that we can do it much faster, with high consistency and high reliability. So bottom line, it’s more efficient.”By next year, TuSimple says it will pull the safety driver and engineer it currently has babysitting its rigs and go fully driverless—something no robo-taxi has committed to yet. By 2023 or 2024, the company plans to have “commercially ready” robo-rigs rolling out of a factory of a major truck maker.That kind of confidence is hard to come by these days among the purveyors of robo-taxis, still struggling to figure out how to navigate the pedestrians, cyclists and unpredictable traffic of chaotic urban environments. Increasingly, the call of the open road and the mundane middle miles between warehouses is proving to be the clearest path to the autonomous future. That’s why big players like Waymo and Tesla Inc.—still working on driverless people haulers—are also developing robo-rigs.“There’s absolutely a market for this sort of thing,” said Sam Abuelsamid, an analyst with Navigant Research. “People don’t really care much about what goes on behind the scenes to get them the products they want. But the value of all the goods being moved is far more than ride-hailing applications.”To contact the authors of this story: Keith Naughton in Southfield at email@example.comMatthew Boyle in New York at firstname.lastname@example.orgTo contact the editor responsible for this story: Anne Riley Moffat at email@example.com, Chester DawsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Navistar International Corp NYSE:NAVView full report here! Summary * Perception of the company's creditworthiness is neutral * Bearish sentiment is low * Economic output in this company's sector is contracting Bearish sentimentShort interest | PositiveShort interest is extremely low for NAV with fewer than 1% of shares on loan. This could indicate that investors who seek to profit from falling equity prices are not currently targeting NAV. Money flowETF/Index ownership | NeutralETF activity is neutral. ETFs that hold NAV had net inflows of $1.29 billion over the last one-month. While these are not among the highest inflows of the last year, the rate of inflow is increasing. Economic sentimentPMI by IHS Markit | NegativeAccording to the latest IHS Markit Purchasing Managersâ€™ Index (PMI) data, output in the Industrialsis falling. The rate of decline is very significant relative to the trend shown over the past year, and is accelerating. The rate of contraction may ease in the coming months, however. Credit worthinessCredit default swap | NeutralThe current level displays a neutral indicator. NAV credit default swap spreads are near their highest levels for the past 1 year, which indicates the market's more negative perception of the company's credit worthiness.Please send all inquiries related to the report to firstname.lastname@example.org.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
Medium- and heavy-duty truck manufacturer Navistar (NYSE: NAV) announced plans to invest $125 million in new and existing facilities in Alabama. NAV already manufactures the International brand of diesel engines at its Huntsville plant. The primary engine produced in the Huntsville facility is the A26, Navistar's 12.4 liter big-bore engine used in its LT- and RH-Series Class 8 heavy-duty trucks as well as some vocational trucks.
Robust sales of Class 6-8 trucks and buses along with improving market share drive Navistar (NAV). However, tough current market condition is concerning.
(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Volkswagen AG’s plan to list its truck division later this month will test whether it can pull off a feat that was once unthinkable for the German automotive giant: get smaller.For decades, the world’s biggest carmaker only knew how to expand -- adding Bentley luxury cruisers, Ducati racing bikes and Scania heavy trucks while taking its network of factories well past the 100 mark and its headcount over 640,000.Even in the face of the debilitating diesel-cheating scandal in 2015, the manufacturer didn’t trim its portfolio, bolstering investment in electric cars instead and even creating a new division for mobility services.Now with the pace of change in the auto industry quickening, Volkswagen is trying its hand at trimming the empire.If the listing of a minority stake in Traton SE -- a truck and bus maker with three vehicle brands and valued at as much as 16.5 billion euros ($18.5 billion)-- goes well, it would give Chief Executive Officer Herbert Diess more sway to balance the often diverging interests of VW shareholders including the Porsche and Piech owner family, Lower Saxony and powerful labor unions.Healthy Valuation“Traton’s IPO pricing suggests a healthy valuation which puts a spotlight on VW’s significant sum-of-its-parts disconnect,” RBC Capital Markets analyst Tom Narayan said in a note. Concerns over the company’s ability to switch to electric vehicles is “unfairly” weighing on its share price, the analyst said.Volkswagen rose 0.2% to 141.42 euros at 11:46 a.m. in Frankfurt trading, taking gains this year to 1.8%.For now, Diess is seeking deeper technology partnerships and the possible sale of assets like transmission maker Renk AG and MAN Energy Solutions, which develops engines. A successful Traton listing, targeted for June 28, could even spark rival Daimler AG to follow suit with a carve-out of its own truck business.The truck group comprises three main assets, Scania, MAN and Volkswagen-branded budget trucks sold in South America and Africa, as well as a unit offering digital services to fleet operators. With 29 production and assembly sites globally, the business last year sold 223,000 vehicles. While that’s 14% more than a year earlier, it’s less than half of Daimler’s truck division, the world’s biggest.Volkswagen is offering 50 million Traton shares at 27 euros to 33 euros apiece, plus a possible over-allotment of 7.5 million shares, meaning at the top end of the price range, the sale would raise as much as 1.9 billion euros. Here are the key points in one of the biggest initial public offerings in Europe this year:Sales PitchTraton is looking to woo investors by combining the best-in-class technology and strong margins of the Scania unit with the prospect of a turnaround at MAN and growth potential in key markets, according to company presentations and research from advising banks seen by Bloomberg.The plan includes the following four pillars:StrengthsChief Executive Officer Andreas Renschler, 61, is the mastermind behind Traton. After helping to establish Daimler’s commercial vehicles business as the world’s largest, he was lured to Volkswagen in 2014. Despite the partly overlapping operations, he’s improved earnings over the past four years, mainly by enforcing closer cooperation between long-standing rivals Scania and MAN. Investor interest in Traton will largely be a bet on Renschler’s veteran skills to deliver in the cyclical truck market.The timing of the listing, which was delayed earlier this year, is complicated by global volatility. The window may be as good as it gets. Rival Volvo Group -- the main pure-play competitor -- has gained 26% this year.“It’s no secret that the market environment is very volatile,” VW Chief Financial Officer Frank Witter told reporters on Monday. “It’s not ideal, but it’s not bad either.”VW remains open to sell more Traton stock at a later stage, up to a maximum stake of 24.9%, if market conditions are supportive, he said.WeaknessesTraton has only small bridgeheads in the key North American and Chinese markets, and the prospects for expanding those positions face obstacles.In North America -- the truck industry’s largest profit pool -- Traton merely owns a 16.8% shareholding in Navistar International Corp., which doesn’t it allow it to do much. Lifting the stake will cost money and add complexity. Meanwhile, Navistar still faces fierce competition from market leaders -- Daimler’s Freightliner, Volvo’s Mack and Paccar Inc.While Daimler and Volvo have functioning production joint ventures in China, the world’s biggest truck market, Traton’s cooperation with Sinotruk Hong Kong Ltd., where its holds a 25% stake through MAN, has yet to deliver the hoped-for results.Alliances can fall short of aspirations to create economies of scale, with the recent tensions at the Renault-Nissan Alliance a fresh reminder of the difficulties in uniting separate cultures. Traton also has a cooperation with Hino Motors Ltd., a Toyota Group company, on electric technology, product development and purchasing.MAN has long attempted a turnaround, but improvements have been tepid compared to an aggressive restructuring at Volvo that doubled margins within roughly three years. MAN’s production footprint in high-cost Germany and a lineup that includes less-profitable medium-duty trucks limits the potential for improvement.(Updates with CFO comment in 14th paragraph.)To contact the reporter on this story: Christoph Rauwald in Frankfurt at email@example.comTo contact the editors responsible for this story: Anthony Palazzo at firstname.lastname@example.org, Chris Reiter, Elisabeth BehrmannFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Volkswagen AG announced that it is offering up to 15 percent of its heavy-truck subsidiary, Traton AG, in an initial public offering (IPO). The company plans to list the shares on both the Frankfurt Stock Exchange and Nasdaq Stockholm. "I am pleased that we have reached another milestone on TRATON's route to the IPO.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Thor's (THO) third-quarter fiscal 2019 earnings decrease on lowered unit volume sales in North American Towable RV and North American Motorized RV segments.
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Industry players -- including Fiat Chrysler (FCAU), Toyota (TM) and Nissan (NSANY) -- post sales gain for May 2019.
Navistar's (NAV) revenues rise in second-quarter fiscal 2019 on robust sales volume of Class 6-8 trucks and buses in the United States and Canada.
Moody's Investors Service (Moody's) has assigned provisional ratings to the notes to be issued by Navistar Financial Dealer Note Master Owner Trust II, Series 2019-1 Notes (NAVMOT 2019-1). Navistar Financial Corporation (NFC), an indirect wholly-owned subsidiary of Navistar International Corp. (Navistar, B2 stable), will be the sponsor and servicer of the transaction.