Enova International (NYSE:ENVA) Upgraded to “Buy” by Zacks Investment Research

Enova International (NYSE:ENVA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday, Zacks.com reports. The brokerage currently has a $24.00 price objective on the credit services provider’s stock. Zacks Investment Research‘s price target indicates a potential upside of 14.23% from the stock’s current price.

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 commented on ENVA. Maxim Group set a $40.00 price target on shares of Enova International and gave the stock a “buy” rating in a report on Friday, July 26th. ValuEngine raised shares of Enova International from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $33.00.

NYSE ENVA traded down $0.07 on Tuesday, hitting $21.01. The company had a trading volume of 68,909 shares, compared to its average volume of 263,952. The company has a market capitalization of $716.72 million, a PE ratio of 9.06 and a beta of 2.42. The company’s fifty day moving average price is $21.85 and its 200-day moving average price is $23.46. The company has a debt-to-equity ratio of 1.93, a current ratio of 5.37 and a quick ratio of 5.37. Enova International has a 12-month low of $17.85 and a 12-month high of $31.95.

Enova International (NYSE:ENVA) last issued its quarterly earnings results on Thursday, July 25th. The credit services provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.56 by $0.17. The company had revenue of $285.70 million during the quarter, compared to analyst estimates of $281.54 million. Enova International had a net margin of 7.09% and a return on equity of 24.84%. The firm’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.59 EPS. On average, sell-side analysts anticipate that Enova International will post 3.32 EPS for the current year.

In other Enova International news, CEO David Fisher sold 17,924 shares of Enova International stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $25.11, for a total transaction of $450,071.64. Following the sale, the chief executive officer now owns 409,499 shares of the company’s stock, valued at approximately $10,282,519.89. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders sold 35,884 shares of company stock valued at $899,906. 7.10% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in ENVA. Marshall Wace LLP acquired a new stake in Enova International during the 2nd quarter worth $3,944,000. Voce Capital Management LLC acquired a new stake in Enova International during the 2nd quarter worth $3,223,000. Systematic Financial Management LP acquired a new stake in Enova International during the 2nd quarter worth $877,000. Zebra Capital Management LLC boosted its stake in Enova International by 156.9% during the 2nd quarter. Zebra Capital Management LLC now owns 23,658 shares of the credit services provider’s stock worth $545,000 after purchasing an additional 14,450 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Enova International by 133.0% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 24,525 shares of the credit services provider’s stock worth $565,000 after purchasing an additional 14,000 shares during the last quarter. 93.92% of the stock is currently owned by institutional investors.

About Enova International

Enova International, Inc, a technology and analytics company, provides online financial services. The company offers short-term consumer loans; line of credit accounts; installment loans; receivables purchase agreements; CSO programs, including credit-related services, such as arranging loans with independent third-party lenders and assisting in the preparation of loan applications and loan documents; and bank programs comprising technology, loan servicing, and marketing services to the bank, as well as Enova Decisions, an analytics as a service that enables companies to take decisions about their customers.

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