Enova International (NYSE:ENVA) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of Enova International (NYSE:ENVA) from a hold rating to a buy rating in a research note released on Monday morning.

Several other analysts also recently weighed in on ENVA. TD Cowen boosted their target price on shares of Enova International from $70.00 to $76.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. JMP Securities lifted their price objective on shares of Enova International from $93.00 to $103.00 and gave the stock a “market outperform” rating in a research note on Monday, October 14th. BTIG Research initiated coverage on Enova International in a research note on Wednesday, August 14th. They issued a “buy” rating and a $90.00 target price for the company. Finally, Janney Montgomery Scott cut Enova International from a “buy” rating to a “neutral” rating in a research report on Monday, August 26th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Enova International presently has a consensus rating of “Moderate Buy” and an average target price of $80.67.

Enova International Stock Down 0.8 %

Enova International stock opened at $86.12 on Monday. Enova International has a 1-year low of $35.30 and a 1-year high of $89.36. The business has a fifty day moving average price of $82.62 and a 200-day moving average price of $71.07. The company has a debt-to-equity ratio of 2.78, a current ratio of 12.07 and a quick ratio of 12.07. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 15.49 and a beta of 1.43.

Enova International (NYSE:ENVA) last issued its quarterly earnings results on Tuesday, July 23rd. The credit services provider reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.14. Enova International had a return on equity of 16.53% and a net margin of 7.52%. The business had revenue of $628.44 million during the quarter, compared to the consensus estimate of $622.92 million. During the same quarter last year, the company earned $1.57 earnings per share. The company’s quarterly revenue was up 25.8% on a year-over-year basis. Equities research analysts forecast that Enova International will post 7.74 EPS for the current fiscal year.

Enova International declared that its board has authorized a share buyback plan on Monday, August 12th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the credit services provider to buy up to 12.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Insider Activity

In related news, CEO David Fisher sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $83.46, for a total transaction of $834,600.00. Following the sale, the chief executive officer now directly owns 423,239 shares of the company’s stock, valued at $35,323,526.94. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Enova International news, CEO David Fisher sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $83.46, for a total value of $834,600.00. Following the completion of the transaction, the chief executive officer now directly owns 423,239 shares of the company’s stock, valued at approximately $35,323,526.94. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Linda Johnson Rice sold 2,700 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $88.29, for a total transaction of $238,383.00. Following the sale, the director now directly owns 7,486 shares in the company, valued at $660,938.94. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,725 shares of company stock valued at $4,690,053 in the last quarter. 7.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of Enova International by 27.6% during the 2nd quarter. GAMMA Investing LLC now owns 855 shares of the credit services provider’s stock valued at $53,000 after acquiring an additional 185 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Enova International by 1.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 20,250 shares of the credit services provider’s stock valued at $1,694,000 after purchasing an additional 200 shares during the period. J.Safra Asset Management Corp increased its position in shares of Enova International by 25.1% in the second quarter. J.Safra Asset Management Corp now owns 1,163 shares of the credit services provider’s stock valued at $72,000 after buying an additional 233 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of Enova International by 21.1% during the 1st quarter. Lazard Asset Management LLC now owns 3,649 shares of the credit services provider’s stock worth $228,000 after buying an additional 636 shares during the period. Finally, USA Financial Formulas purchased a new position in shares of Enova International during the 3rd quarter valued at approximately $76,000. Hedge funds and other institutional investors own 89.43% of the company’s stock.

Enova International Company Profile

Enova International, Inc, a technology and analytics company, provides online financial services in the United States, Brazil, and internationally. The company provides installment loans; line of credit accounts; CSO programs, including arranging loans with independent third-party lenders and assisting in the preparation of loan applications and loan documents; and bank programs, such as marketing services and loan servicing for near-prime unsecured consumer installment loan.