Enova International (NYSE:ENVA) Hits New 52-Week High After Analyst Upgrade

Enova International, Inc. (NYSE:ENVA)’s share 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 trading hands. The stock had previously closed at $157.92.

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

Insider Activity at Enova International

In related news, CFO Steven E. Cunningham sold 14,874 shares of Enova International stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $120.70, for a total value of $1,795,291.80. Following the completion of the transaction, the chief financial officer owned 127,719 shares in the company, valued at approximately $15,415,683.30. The trade was a 10.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David Fisher sold 35,000 shares of the company’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 transaction of $4,394,250.00. Following the sale, the chief executive officer directly owned 348,223 shares in the company, valued at approximately $43,719,397.65. The trade was a 9.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 67,874 shares of company stock valued at $8,426,042. Insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ENVA. Baird Financial Group Inc. increased its holdings in Enova International by 0.8% during the 2nd quarter. Baird Financial Group Inc. now owns 155,950 shares of the credit services provider’s stock worth $17,392,000 after purchasing an additional 1,276 shares during the period. Loomis Sayles & Co. L P purchased a new stake in shares of Enova International during the second quarter worth approximately $11,152,000. CX Institutional raised its holdings in Enova International by 4.2% in the third quarter. CX Institutional now owns 70,352 shares of the credit services provider’s stock valued at $8,097,000 after acquiring an additional 2,814 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Enova International by 238.8% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 68,600 shares of the credit services provider’s stock worth $7,650,000 after acquiring an additional 48,350 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in Enova International by 2.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 65,255 shares of the credit services provider’s stock worth $7,277,000 after acquiring an additional 1,531 shares in the last quarter. 89.43% of the stock is owned by institutional investors and hedge funds.

Enova International Stock Down 1.5%

The firm’s fifty day simple moving average is $124.46 and its 200 day simple moving average is $115.41. The company has a current ratio of 19.29, a quick ratio of 19.29 and a debt-to-equity ratio of 3.20. The company has a market cap of $3.98 billion, a price-to-earnings ratio of 14.74 and a beta of 1.31.

Enova International (NYSE:ENVA) last released its quarterly earnings data on Thursday, October 23rd. The credit services provider reported $3.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.03 by $0.33. The business had revenue of $460.71 million during the quarter, compared to analysts’ expectations of $806.63 million. Enova International had a net margin of 9.64% and a return on equity of 24.50%. The company’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.45 EPS. Sell-side analysts predict that Enova International, Inc. will post 10.31 earnings per share for the current year.

Enova International announced that its board has authorized a share repurchase program on Wednesday, November 12th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the credit services provider to buy up to 12.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management 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.