Canaccord Genuity Group Issues Pessimistic Forecast for EZCORP (NASDAQ:EZPW) Stock Price

EZCORP (NASDAQ:EZPW) had its target price reduced by stock analysts at Canaccord Genuity Group from $45.00 to $44.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the credit services provider’s stock. Canaccord Genuity Group‘s price objective points to a potential upside of 59.71% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Citigroup reiterated a “market outperform” rating on shares of EZCORP in a report on Thursday. Wall Street Zen cut shares of EZCORP from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings raised shares of EZCORP from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, November 3rd. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.83.

EZCORP Stock Up 1.8%

NASDAQ EZPW traded up $0.50 during mid-day trading on Friday, reaching $27.55. The stock had a trading volume of 1,550,889 shares, compared to its average volume of 871,249. The stock has a market cap of $1.69 billion, a PE ratio of 13.31 and a beta of 0.76. EZCORP has a 1 year low of $16.50 and a 1 year high of $37.13. The company has a debt-to-equity ratio of 0.44, a current ratio of 4.54 and a quick ratio of 3.45. The company has a fifty day moving average price of $30.62 and a 200 day moving average price of $29.86.

EZCORP (NASDAQ:EZPW) last issued its earnings results on Wednesday, November 11th. The credit services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.42 by $0.01. The business had revenue of $447.06 million for the quarter, compared to the consensus estimate of $427.57 million. EZCORP had a return on equity of 14.12% and a net margin of 9.77%. On average, research analysts expect that EZCORP will post 2.20 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Ellen Bryant sold 30,000 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $34.77, for a total transaction of $1,043,100.00. Following the transaction, the insider directly owned 117,786 shares of the company’s stock, valued at $4,095,419.22. This represents a 20.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.13% of the company’s stock.

Institutional Trading of EZCORP

Several large investors have recently modified their holdings of EZPW. Harbor Investment Advisory LLC purchased a new stake in EZCORP during the second quarter valued at $31,000. IFP Advisors Inc lifted its holdings in EZCORP by 546.4% in the third quarter. IFP Advisors Inc now owns 1,183 shares of the credit services provider’s stock valued at $35,000 after acquiring an additional 1,000 shares during the period. Parallel Advisors LLC boosted its position in EZCORP by 2,381.2% in the third quarter. Parallel Advisors LLC now owns 1,191 shares of the credit services provider’s stock worth $35,000 after purchasing an additional 1,143 shares during the last quarter. Fortitude Family Office LLC boosted its position in EZCORP by 4,125.0% in the third quarter. Fortitude Family Office LLC now owns 1,521 shares of the credit services provider’s stock worth $45,000 after purchasing an additional 1,485 shares during the last quarter. Finally, KBC Group NV purchased a new position in EZCORP in the first quarter worth about $44,000. Institutional investors own 99.83% of the company’s stock.

Key Stories Impacting EZCORP

Here are a few of the latest stories about EZPW:

• Positive Sentiment: Roth Capital reaffirmed its Buy rating and $40 price target. Canaccord Genuity also kept a Buy rating, with a modest target reduction from $45 to $44; both targets remain well above the cited share price. Roth Capital rating Canaccord Genuity rating
• Negative Sentiment: Despite the earnings beat, coverage said shares fell after the results as costs overshadowed the strong quarter. This suggests expense trends may limit how much investors reward the revenue and earnings growth. Earnings reaction
• Negative Sentiment: A newly disclosed risk flags EZCORP’s reliance on AI and machine learning as a potential source of operational, cybersecurity and regulatory exposure. AI-related risk disclosure

About EZCORP

EZCORP, Inc. operates pawnshops that provide short-term loans secured by customers’ personal property and sell pre-owned merchandise. Its stores offer customers access to pawn loans and a way to buy or sell goods. Products commonly include jewelry, electronics, tools and musical instruments. The company operates under brands including EZPAWN and serves customers in the United States and parts of Latin America. Founded in 1989, EZCORP is headquartered in Austin, Texas. Its business focuses on pawn lending and the retail sale of secondhand goods.