Enova International, Inc. (ENVA) Downgraded by Zacks Investment Research to Sell

Enova International, Inc. (NYSE:ENVA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

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 issued reports on ENVA. BidaskClub lowered Enova International from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Maxim Group reiterated a “buy” rating and issued a $18.00 price target on shares of Enova International in a research note on Monday. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $17.00 price target on shares of Enova International in a research note on Friday, July 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $15.00.

Shares of Enova International (NYSE:ENVA) traded down 2.09% during mid-day trading on Wednesday, hitting $14.05. The stock had a trading volume of 244,164 shares. Enova International has a 52 week low of $8.68 and a 52 week high of $16.80. The stock has a 50 day moving average price of $12.76 and a 200 day moving average price of $13.89. The firm has a market cap of $473.25 million, a PE ratio of 11.31 and a beta of 3.48.

Enova International (NYSE:ENVA) last issued its quarterly earnings results on Thursday, July 27th. The credit services provider reported $0.35 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.35. Enova International had a return on equity of 15.97% and a net margin of 5.42%. The company had revenue of $189.90 million for the quarter, compared to analyst estimates of $193.70 million. During the same quarter last year, the company posted $0.25 EPS. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. Equities research analysts expect that Enova International will post $1.27 EPS for the current fiscal year.

Enova International declared that its Board of Directors has initiated a stock buyback plan on Friday, September 15th that allows the company to repurchase $25.00 million in outstanding shares. This repurchase authorization allows the credit services provider to buy up to 63% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

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Several institutional investors and hedge funds have recently modified their holdings of ENVA. Tieton Capital Management LLC bought a new position in shares of Enova International in the 2nd quarter valued at $5,056,000. TIAA CREF Investment Management LLC increased its stake in shares of Enova International by 108.3% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 389,302 shares of the credit services provider’s stock valued at $5,781,000 after purchasing an additional 202,404 shares during the last quarter. William Blair Investment Management LLC increased its stake in shares of Enova International by 82.1% in the 2nd quarter. William Blair Investment Management LLC now owns 446,499 shares of the credit services provider’s stock valued at $6,631,000 after purchasing an additional 201,291 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its stake in shares of Enova International by 982.1% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 141,430 shares of the credit services provider’s stock valued at $2,100,000 after purchasing an additional 128,360 shares during the last quarter. Finally, James Investment Research Inc. bought a new position in shares of Enova International in the 2nd quarter valued at $1,601,000. Institutional investors own 95.32% of the company’s stock.

About Enova International

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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