Enova International (NYSE:ENVA) Reaches New 12-Month High – What’s Next?

by · The Markets Daily

Enova International, Inc. (NYSE:ENVA – Get Free Report) shares reached a new 52-week high on Thursday . The stock traded as high as $133.11 and last traded at $132.25, with a volume of 16366 shares trading hands. The stock had previously closed at $127.26.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Zacks Research downgraded shares of Enova International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 25th. Weiss Ratings restated a “buy (b-)” rating on shares of Enova International in a research report on Wednesday, October 8th. JMP Securities upped their price objective on shares of Enova International from $135.00 to $149.00 and gave the company a “market outperform” rating in a research report on Friday, October 24th. Finally, BTIG Research lifted their target price on Enova International from $129.00 to $144.00 and gave the stock a “buy” rating in a research report on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $116.80.

Read Our Latest Report on Enova International

Enova International Stock Performance

The company has a debt-to-equity ratio of 3.20, a current ratio of 19.29 and a quick ratio of 18.15. The firm has a market cap of $3.12 billion, a P/E ratio of 11.55 and a beta of 1.47. The stock’s 50 day moving average is $118.23 and its two-hundred day moving average is $109.36.

Enova International (NYSE:ENVA – Get Free Report) last announced its quarterly 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. The firm 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% compared to the same quarter last year. During the same quarter last year, the company earned $2.45 earnings per share. As a group, equities analysts predict that Enova International, Inc. will post 10.31 EPS for the current year.

Enova International declared that its board has initiated a share repurchase plan on Wednesday, November 12th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the credit services provider to reacquire up to 12.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other Enova International news, CFO Steven E. Cunningham sold 14,874 shares of Enova International stock in a transaction 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 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David Fisher sold 6,000 shares of Enova International stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $122.61, for a total value of $735,660.00. Following the completion of the transaction, the chief executive officer directly owned 348,223 shares of the company’s stock, valued at $42,695,622.03. This represents a 1.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 86,874 shares of company stock valued at $10,708,742 over the last ninety days. Insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ENVA. Horizon Investments LLC grew its position in shares of Enova International by 5.9% during the 3rd quarter. Horizon Investments LLC now owns 14,054 shares of the credit services provider’s stock worth $1,617,000 after buying an additional 789 shares during the period. Kendall Capital Management boosted its stake in Enova International by 11.0% in the third quarter. Kendall Capital Management now owns 5,415 shares of the credit services provider’s stock valued at $623,000 after acquiring an additional 535 shares during the last quarter. Hillsdale Investment Management Inc. grew its holdings in Enova International by 12.0% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 58,780 shares of the credit services provider’s stock worth $6,765,000 after acquiring an additional 6,300 shares during the period. LSV Asset Management bought a new stake in shares of Enova International during the 3rd quarter valued at $253,000. Finally, Moloney Securities Asset Management LLC bought a new stake in Enova International in the third quarter valued at about $289,000. 89.43% of the stock is currently owned by institutional investors and hedge funds.

About Enova International

(Get Free Report)

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.

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