Enova International (ENVA) Upgraded at Zacks Investment Research

Enova International (NYSE:ENVA) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday. The brokerage presently has a $29.00 price target on the credit services provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 22.62% from the stock’s previous close.

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 also recently commented on ENVA. Maxim Group reaffirmed a “buy” rating and issued a $32.00 target price on shares of Enova International in a research note on Friday, July 13th. Stephens set a $45.00 target price on shares of Enova International and gave the stock a “buy” rating in a research note on Friday, July 27th. ValuEngine downgraded shares of Enova International from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 31st. TheStreet downgraded shares of Enova International from a “b-” rating to a “c” rating in a research note on Monday, July 30th. Finally, JMP Securities decreased their target price on shares of Enova International from $42.00 to $40.00 and set a “market outperform” rating on the stock in a research note on Wednesday, October 10th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $36.20.

Shares of ENVA stock traded down $1.42 during trading hours on Wednesday, hitting $23.65. 373,800 shares of the company’s stock were exchanged, compared to its average volume of 353,706. The company has a market capitalization of $835.06 million, a PE ratio of 20.57 and a beta of 2.65. Enova International has a 12-month low of $13.25 and a 12-month high of $39.00. The company has a debt-to-equity ratio of 2.70, a quick ratio of 9.86 and a current ratio of 8.94.

Enova International (NYSE:ENVA) last posted its quarterly earnings results on Thursday, October 25th. The credit services provider reported $0.40 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.01). The business had revenue of $293.88 million for the quarter, compared to analysts’ expectations of $267.54 million. Enova International had a return on equity of 22.44% and a net margin of 6.54%. On average, research analysts predict that Enova International will post 2.22 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Legal & General Group Plc increased its stake in shares of Enova International by 2.8% in the first quarter. Legal & General Group Plc now owns 62,471 shares of the credit services provider’s stock worth $1,376,000 after buying an additional 1,710 shares during the period. Alps Advisors Inc. increased its stake in shares of Enova International by 8.4% in the second quarter. Alps Advisors Inc. now owns 29,755 shares of the credit services provider’s stock worth $1,088,000 after buying an additional 2,315 shares during the period. Meeder Asset Management Inc. increased its stake in shares of Enova International by 146.8% in the second quarter. Meeder Asset Management Inc. now owns 4,216 shares of the credit services provider’s stock worth $154,000 after buying an additional 2,508 shares during the period. United Services Automobile Association purchased a new position in shares of Enova International in the second quarter worth $214,000. Finally, Xact Kapitalforvaltning AB purchased a new position in shares of Enova International in the second quarter worth $223,000. 92.62% 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 through existing tools and technologies.

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