Zacks Investment Research Upgrades Enova International (ENVA) to Buy
Enova International (NYSE:ENVA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage currently has a $17.00 price objective on the credit services provider’s stock. Zacks Investment Research‘s target price points to a potential upside of 12.21% from the stock’s previous close.
According to Zacks, “Enova International, Inc. is a provider of online financial services. It offers loans to customers in the United States and in the United Kingdom, Australia and Canada. The Company’s customers include consumers who have bank accounts but use alternative financial credit services because of their limited access to more traditional consumer credit from banks, thrifts, credit card companies and other lenders. Enova International, Inc is headquartered in Chicago. “
Several other brokerages have also recently weighed in on ENVA. BidaskClub raised shares of Enova International from a “hold” rating to a “buy” rating in a research note on Saturday, October 21st. ValuEngine cut shares of Enova International from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 21st. TheStreet raised shares of Enova International from a “d+” rating to a “c” rating in a research report on Monday, October 30th. Maxim Group reaffirmed a “buy” rating and set a $18.00 price target on shares of Enova International in a research report on Monday, October 30th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $17.00 price target on shares of Enova International in a research report on Thursday, October 12th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Enova International has an average rating of “Buy” and an average price target of $16.75.
Enova International (NYSE:ENVA) last issued its quarterly earnings data on Thursday, October 26th. The credit services provider reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.09. Enova International had a net margin of 3.87% and a return on equity of 14.85%. The company had revenue of $217.88 million for the quarter, compared to analysts’ expectations of $210.27 million. During the same quarter in the previous year, the firm posted $0.28 earnings per share. Enova International’s revenue for the quarter was up 11.2% on a year-over-year basis. equities research analysts anticipate that Enova International will post 1.11 EPS for the current year.
Enova International announced that its Board of Directors has approved a share buyback plan on Friday, September 15th that permits the company to buyback $25.00 million in outstanding shares. This buyback authorization permits the credit services provider to buy up to 63% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.
In other news, Director Mark Mcgowan purchased 30,000 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were acquired at an average price of $13.97 per share, with a total value of $419,100.00. Following the completion of the transaction, the director now owns 22,689 shares of the company’s stock, valued at approximately $316,965.33. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.50% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in ENVA. Matarin Capital Management LLC acquired a new position in shares of Enova International during the third quarter valued at about $112,000. Acrospire Investment Management LLC raised its holdings in shares of Enova International by 1,123.6% during the second quarter. Acrospire Investment Management LLC now owns 18,268 shares of the credit services provider’s stock valued at $134,000 after purchasing an additional 16,775 shares during the period. Metropolitan Life Insurance Co. NY acquired a new position in shares of Enova International during the second quarter valued at about $142,000. Blair William & Co. IL acquired a new position in shares of Enova International during the first quarter valued at about $165,000. Finally, Tudor Investment Corp ET AL acquired a new position in shares of Enova International during the second quarter valued at about $175,000. Hedge funds and other institutional investors own 97.34% of the company’s stock.
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Enova International Company Profile
Enova International, Inc is a technology and analytics company. The Company provides online financial services. As of December 31, 2016, the Company offered or arranged loans to consumers in 33 states in the United States and in the United Kingdom and Brazil. As of December 31, 2016, it also offered financing to small businesses in all 50 states and Washington DC in the United States.
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