Atlanticus (NASDAQ:ATLC) Stock Rating Cut to Buy at Wall Street Zen

Wall Street Zen cut shares of Atlanticus (NASDAQ:ATLC) from a strong-buy rating to a buy rating in a research report released on Saturday,Wall Street Zen reports.

A number of other brokerages have also recently commented on ATLC. Citigroup reaffirmed an “outperform” rating on shares of Atlanticus in a research note on Thursday, July 16th. Zacks Research lowered Atlanticus from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. HSBC set a $144.00 price objective on Atlanticus in a research note on Monday, July 13th. Texas Capital upgraded shares of Atlanticus from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of Atlanticus in a research note on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $124.86.

Atlanticus Stock Performance

NASDAQ ATLC opened at $91.23 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.26 and a current ratio of 1.26. The company has a fifty day moving average of $92.28 and a 200-day moving average of $81.10. Atlanticus has a 52-week low of $47.50 and a 52-week high of $114.34. The company has a market capitalization of $1.38 billion, a P/E ratio of 8.04 and a beta of 1.80.

Atlanticus (NASDAQ:ATLC) last issued its earnings results on Thursday, November 5th. The credit services provider reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.99 by $0.01. The company had revenue of $775.85 million for the quarter, compared to analysts’ expectations of $775.08 million. Atlanticus had a net margin of 7.65% and a return on equity of 29.05%. As a group, equities research analysts predict that Atlanticus will post 9.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Atlanticus

Several institutional investors and hedge funds have recently bought and sold shares of ATLC. BlackRock Inc. bought a new position in shares of Atlanticus during the second quarter valued at approximately $43,535,000. Philadelphia Financial Management of San Francisco LLC bought a new stake in Atlanticus in the second quarter valued at $9,161,293. Empowered Funds LLC bought a new stake in Atlanticus in the second quarter valued at $7,286,000. Inspire Investing LLC boosted its holdings in Atlanticus by 12.3% in the third quarter. Inspire Investing LLC now owns 27,401 shares of the credit services provider’s stock valued at $2,398,000 after acquiring an additional 3,006 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Atlanticus during the 2nd quarter valued at $2,281,000. Hedge funds and other institutional investors own 14.15% of the company’s stock.

Atlanticus Company Profile

Atlanticus Holdings Corporation is a financial technology and services company that provides credit and related financial products to consumers, primarily in the United States. Through its subsidiaries, the company focuses on serving consumers who may have limited access to traditional forms of credit.

Atlanticus operates businesses offering private-label and general-purpose credit products, including credit cards and installment loans. Its offerings are distributed through direct-to-consumer channels and partnerships with merchants, giving consumers access to financing for purchases and other personal needs.

The company also operates an auto finance business that provides vehicle-related lending solutions.