Enova International (NYSE:ENVA) Earns Overweight Rating from Analysts at Stephens

Equities research analysts at Stephens assumed coverage on shares of Enova International (NYSE:ENVA) in a report issued on Wednesday, MarketBeat reports. The firm set an “overweight” rating and a $108.00 price target on the credit services provider’s stock. Stephens’ target price would suggest a potential upside of 7.00% from the company’s previous close.

ENVA has been the topic of a number of other reports. StockNews.com raised Enova International from a “hold” rating to a “buy” rating in a report on Monday, October 21st. JMP Securities raised their target price on shares of Enova International from $103.00 to $109.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 23rd. Janney Montgomery Scott lowered shares of Enova International from a “buy” rating to a “neutral” rating in a research note on Monday, August 26th. BTIG Research raised their price objective on shares of Enova International from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, TD Cowen upped their target price on Enova International from $85.00 to $96.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.14.

Enova International Price Performance

Shares of NYSE:ENVA opened at $100.93 on Wednesday. The firm’s 50 day moving average is $86.06 and its two-hundred day moving average is $74.76. The firm has a market capitalization of $2.65 billion, a P/E ratio of 16.41 and a beta of 1.42. The company has a current ratio of 15.82, a quick ratio of 15.82 and a debt-to-equity ratio of 2.79. Enova International has a 52 week low of $38.89 and a 52 week high of $106.51.

Enova International (NYSE:ENVA) last issued its quarterly earnings data on Tuesday, October 22nd. The credit services provider reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.14. The business had revenue of $689.92 million during the quarter, compared to analyst estimates of $666.33 million. Enova International had a return on equity of 18.41% and a net margin of 7.19%. The business’s revenue for the quarter was up 25.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.33 EPS. Analysts anticipate that Enova International will post 8.04 earnings per share for the current year.

Enova International announced that its Board of Directors has authorized a share buyback program on Monday, August 12th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the credit services provider to purchase up to 12.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other news, CFO Steven E. Cunningham sold 29,158 shares of Enova International stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $89.53, for a total value of $2,610,515.74. Following the transaction, the chief financial officer now directly owns 130,355 shares of the company’s stock, valued at $11,670,683.15. This trade represents a 18.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David Fisher sold 13,314 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $101.74, for a total transaction of $1,354,566.36. Following the completion of the sale, the chief executive officer now owns 399,925 shares of the company’s stock, valued at approximately $40,688,369.50. This trade represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,843 shares of company stock worth $8,121,179. 7.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Enova International

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its position in shares of Enova International by 28.6% in the third quarter. BNP Paribas Financial Markets now owns 58,066 shares of the credit services provider’s stock worth $4,865,000 after buying an additional 12,928 shares during the period. SG Americas Securities LLC acquired a new stake in Enova International during the 3rd quarter worth about $772,000. Smith Shellnut Wilson LLC ADV purchased a new position in Enova International during the 2nd quarter valued at about $235,000. F M Investments LLC acquired a new position in shares of Enova International in the 3rd quarter valued at about $242,000. Finally, Summit Global Investments lifted its position in shares of Enova International by 7.5% in the second quarter. Summit Global Investments now owns 25,464 shares of the credit services provider’s stock worth $1,585,000 after purchasing an additional 1,785 shares in the last quarter. 89.43% of the stock is currently owned by hedge funds and other institutional investors.

About Enova International

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.