Enova International (NYSE:ENVA) Reaches New 52-Week High – Should You Buy?

Enova International, Inc. (NYSE:ENVA)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $105.40 and last traded at $105.28, with a volume of 942 shares traded. The stock had previously closed at $103.90.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Janney Montgomery Scott cut shares of Enova International from a “buy” rating to a “neutral” rating in a research note on Monday, August 26th. StockNews.com upgraded shares of Enova International from a “hold” rating to a “buy” rating in a research note on Monday, October 21st. Stephens assumed coverage on shares of Enova International in a research note on Wednesday. They set an “overweight” rating and a $108.00 price target on the stock. BTIG Research lifted their price target on shares of Enova International from $90.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, JMP Securities lifted 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. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Enova International presently has an average rating of “Moderate Buy” and a consensus target price of $91.14.

Enova International Stock Performance

The company has a debt-to-equity ratio of 2.79, a quick ratio of 15.82 and a current ratio of 15.82. The company has a market capitalization of $2.65 billion, a P/E ratio of 16.41 and a beta of 1.42. The business’s fifty day simple moving average is $86.06 and its 200-day simple moving average is $74.76.

Enova International (NYSE:ENVA) last announced its quarterly earnings results on Tuesday, October 22nd. The credit services provider reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.14. The company had revenue of $689.92 million for the quarter, compared to the consensus estimate of $666.33 million. Enova International had a net margin of 7.19% and a return on equity of 18.41%. Enova International’s revenue for the quarter was up 25.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.33 EPS. As a group, equities analysts anticipate that Enova International, Inc. will post 8.04 earnings per share for the current fiscal year.

Enova International announced that its Board of Directors has initiated a share repurchase plan on Monday, August 12th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the credit services provider to purchase up to 12.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Enova International

In other news, CEO David Fisher sold 10,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $84.45, for a total value of $844,500.00. Following the sale, the chief executive officer now directly owns 413,239 shares in the company, valued at $34,898,033.55. The trade was a 2.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Steven E. Cunningham sold 2,455 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $89.75, for a total transaction of $220,336.25. Following the completion of the sale, the chief financial officer now owns 127,900 shares in the company, valued at approximately $11,479,025. This trade represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 90,843 shares of company stock worth $8,121,179. Insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Enova International

Several hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its holdings in Enova International by 28.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 58,066 shares of the credit services provider’s stock valued at $4,865,000 after purchasing an additional 12,928 shares during the last quarter. Quantbot Technologies LP grew its holdings in Enova International by 10.2% during the 3rd quarter. Quantbot Technologies LP now owns 14,182 shares of the credit services provider’s stock valued at $1,188,000 after purchasing an additional 1,311 shares during the last quarter. Foundry Partners LLC grew its holdings in Enova International by 1.1% during the 3rd quarter. Foundry Partners LLC now owns 122,756 shares of the credit services provider’s stock valued at $10,286,000 after purchasing an additional 1,328 shares during the last quarter. F M Investments LLC bought a new position in Enova International during the 3rd quarter valued at about $242,000. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Enova International by 1.0% during the 3rd 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 last quarter. 89.43% of the stock is currently owned by institutional investors.

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.