Enova International (NYSE:ENVA) Rating Lowered to “Hold” at Zacks Research

Enova International (NYSE:ENVA) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks reports.

Several other brokerages have also issued reports on ENVA. Stephens decreased their price target on shares of Enova International from $275.00 to $205.00 and set an “overweight” rating for the company in a report on Thursday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Enova International in a research note on Friday, July 17th. TD Cowen reduced their target price on Enova International from $257.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday. Jefferies Financial Group boosted their target price on Enova International from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Finally, Citizens Jmp lowered their price target on Enova International from $270.00 to $215.00 and set a “market outperform” rating for the company in a report on Tuesday. Eight investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.67.

Enova International Stock Up 4.2%

Enova International stock opened at $179.40 on Wednesday. The firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of 13.30 and a beta of 1.21. The company’s 50 day simple moving average is $237.33 and its 200 day simple moving average is $192.67. The company has a debt-to-equity ratio of 3.35, a current ratio of 18.42 and a quick ratio of 18.42. Enova International has a fifty-two week low of $103.02 and a fifty-two week high of $267.45.

Enova International (NYSE:ENVA) last issued its earnings results on Thursday, July 23rd. The credit services provider reported $4.31 EPS for the quarter, beating the consensus estimate of $3.99 by $0.32. The firm had revenue of $928.93 million during the quarter, compared to the consensus estimate of $909.61 million. Enova International had a net margin of 10.31% and a return on equity of 26.66%. The business’s quarterly revenue was up 21.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.23 earnings per share. As a group, sell-side analysts anticipate that Enova International will post 16.33 EPS for the current year.

Insider Buying and Selling at Enova International

In other news, Chairman David Fisher sold 9,491 shares of the stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $244.01, for a total transaction of $2,315,898.91. Following the completion of the sale, the chairman owned 306,444 shares of the company’s stock, valued at $74,775,400.44. This represents a 3.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.40% of the stock is owned by company insiders.

Institutional Trading of Enova International

Institutional investors have recently modified their holdings of the company. Sequoia Financial Advisors LLC raised its position in Enova International by 4.7% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,903 shares of the credit services provider’s stock valued at $458,000 after buying an additional 86 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in Enova International in the 2nd quarter valued at approximately $52,000. NewEdge Advisors LLC lifted its stake in Enova International by 5.2% in the 2nd quarter. NewEdge Advisors LLC now owns 3,670 shares of the credit services provider’s stock valued at $883,000 after acquiring an additional 181 shares in the last quarter. Allworth Financial LP boosted its position in Enova International by 87.3% during the 2nd quarter. Allworth Financial LP now owns 635 shares of the credit services provider’s stock worth $153,000 after acquiring an additional 296 shares during the last quarter. Finally, Nykredit A S acquired a new position in Enova International during the 2nd quarter worth approximately $250,000. 89.43% of the stock is currently owned by institutional investors.

Enova International News Summary

Here are the key news stories impacting Enova International this week:

• Positive Sentiment: Enova retains a consensus “Buy” rating, indicating that analysts generally continue to see value in the stock despite recent developments. Enova receives consensus Buy rating
• Neutral Sentiment: Investor attention is shifting away from the Grasshopper transaction and toward broader macroeconomic factors, including the economic environment affecting Enova’s credit businesses. Enova investor focus turns from Grasshopper to macro
• Negative Sentiment: Enova withdrew the federal applications needed to complete its approximately $369 million acquisition of Grasshopper Bancorp, citing unclear regulatory rules and political pressure. The decision removes a potential growth opportunity and triggered a sharp selloff. Enova withdraws Grasshopper Bank bid
• Negative Sentiment: TD Cowen and Citizens JMP lowered their expectations for Enova’s stock price, contributing to concerns about the company’s near-term valuation and outlook. TD Cowen lowers Enova expectations Citizens JMP lowers Enova expectations
• Negative Sentiment: Several law firms announced investigations into potential securities-law violations or other improper conduct related to Enova’s disclosures and the Grasshopper transaction. These announcements do not establish wrongdoing, but they raise litigation, reputational and potential financial risks for investors. Enova securities investigation

About Enova International

Enova International, Inc is a financial technology company that provides online financial services to consumers and small businesses. The company uses technology, data analytics and automated decision-making to offer credit products designed for customers who may have limited access to traditional bank financing.

Enova’s consumer finance brands include CashNetUSA and NetCredit, which offer products such as short-term and installment loans, lines of credit and other forms of personal credit, subject to applicable laws and eligibility requirements.