Enova International (NYSE:ENVA) Reaches New 1-Year High After Analyst Upgrade

Enova International, Inc. (NYSE:ENVA)’s stock price hit a new 52-week high on Monday after BTIG Research raised their price target on the stock from $144.00 to $199.00. BTIG Research currently has a buy rating on the stock. Enova International traded as high as $164.42 and last traded at $164.1960, with a volume of 587813 shares changing hands. The stock had previously closed at $157.92.

A number of other brokerages have also recently weighed in on ENVA. Weiss Ratings restated a “buy (b-)” rating on shares of Enova International in a report on Wednesday, October 8th. Zacks Research lowered Enova International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 25th. Wall Street Zen downgraded shares of Enova International from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 22nd. Citigroup reaffirmed an “outperform” rating on shares of Enova International in a research note on Friday. Finally, Citizens Jmp boosted their price target on Enova International from $149.00 to $180.00 and gave the company a “market outperform” rating in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $136.50.

Insider Activity

In other Enova International news, CEO David Fisher sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $125.55, for a total value of $4,394,250.00. Following the sale, the chief executive officer owned 348,223 shares of the company’s stock, valued at $43,719,397.65. This trade represents a 9.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Steven E. Cunningham sold 14,874 shares of the company’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $120.70, for a total value of $1,795,291.80. Following the transaction, the chief financial officer owned 127,719 shares of the company’s stock, valued at approximately $15,415,683.30. This trade represents a 10.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 67,874 shares of company stock valued at $8,426,042 in the last three months. 8.40% of the stock is owned by insiders.

Institutional Trading of Enova International

Institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System grew its holdings in shares of Enova International by 0.4% in the 2nd quarter. California State Teachers Retirement System now owns 24,268 shares of the credit services provider’s stock worth $2,706,000 after purchasing an additional 105 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of Enova International by 174.2% in the third quarter. Bessemer Group Inc. now owns 255 shares of the credit services provider’s stock valued at $30,000 after acquiring an additional 162 shares during the last quarter. J.Safra Asset Management Corp boosted its holdings in shares of Enova International by 3.3% in the 3rd quarter. J.Safra Asset Management Corp now owns 5,503 shares of the credit services provider’s stock worth $633,000 after acquiring an additional 176 shares in the last quarter. Pacer Advisors Inc. bought a new position in shares of Enova International in the 3rd quarter valued at about $28,000. Finally, Strs Ohio acquired a new stake in shares of Enova International during the 3rd quarter worth approximately $35,000. Institutional investors and hedge funds own 89.43% of the company’s stock.

Enova International Stock Performance

The stock’s 50 day moving average is $123.47 and its two-hundred day moving average is $114.94. The firm has a market capitalization of $4.09 billion, a P/E ratio of 15.15 and a beta of 1.31. The company has a debt-to-equity ratio of 3.20, a current ratio of 19.29 and a quick ratio of 19.29.

Enova International (NYSE:ENVA) last released its earnings results on Thursday, October 23rd. The credit services provider reported $3.36 EPS for the quarter, topping analysts’ consensus estimates of $3.03 by $0.33. Enova International had a net margin of 9.64% and a return on equity of 24.50%. The firm had revenue of $460.71 million during the quarter, compared to analyst estimates of $806.63 million. During the same quarter in the previous year, the business earned $2.45 EPS. The business’s quarterly revenue was up 16.3% compared to the same quarter last year. As a group, equities analysts anticipate that Enova International, Inc. will post 10.31 earnings per share for the current fiscal year.

Enova International declared that its board has authorized a stock repurchase program on Wednesday, November 12th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the credit services provider to reacquire up to 12.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.