Enova International (NYSE:ENVA) Hits New 12-Month High – Still a Buy?

Enova International, Inc. (NYSE:ENVA) shares reached a new 52-week high on Wednesday . The stock traded as high as $88.96 and last traded at $88.89, with a volume of 48014 shares changing hands. The stock had previously closed at $86.38.

Wall Street Analysts Forecast Growth

ENVA has been the subject of a number of recent research reports. StockNews.com lowered shares of Enova International from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. TD Cowen upped their target price on shares of Enova International from $70.00 to $76.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. JMP Securities increased their price objective on Enova International from $93.00 to $103.00 and gave the stock a “market outperform” rating in a research note on Monday. Janney Montgomery Scott cut Enova International from a “buy” rating to a “neutral” rating in a research report on Monday, August 26th. Finally, BTIG Research started coverage on Enova International in a research note on Wednesday, August 14th. They set a “buy” rating and a $90.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $80.67.

Enova International Price Performance

The firm has a market cap of $2.45 billion, a P/E ratio of 15.80 and a beta of 1.43. The business’s fifty day simple moving average is $82.22 and its 200-day simple moving average is $70.61. The company has a current ratio of 12.07, a quick ratio of 12.07 and a debt-to-equity ratio of 2.78.

Enova International (NYSE:ENVA) last announced its quarterly earnings results on Tuesday, July 23rd. The credit services provider reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.14. Enova International had a return on equity of 16.53% and a net margin of 7.52%. The firm had revenue of $628.44 million for the quarter, compared to analysts’ expectations of $622.92 million. During the same period in the prior year, the business posted $1.57 earnings per share. The company’s revenue was up 25.8% on a year-over-year basis. As a group, analysts forecast that Enova International, Inc. will post 7.74 EPS for the current fiscal year.

Enova International announced that its board has authorized a stock buyback plan on Monday, August 12th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the credit services provider to buy up to 12.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Enova International

In other Enova International news, General Counsel Sean Rahilly sold 10,158 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $81.36, for a total value of $826,454.88. Following the completion of the sale, the general counsel now owns 101,949 shares in the company, valued at approximately $8,294,570.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Linda Johnson Rice sold 2,700 shares of Enova International stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $88.29, for a total transaction of $238,383.00. Following the sale, the director now owns 7,486 shares of the company’s stock, valued at approximately $660,938.94. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Sean Rahilly sold 10,158 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $81.36, for a total transaction of $826,454.88. Following the completion of the transaction, the general counsel now directly owns 101,949 shares of the company’s stock, valued at approximately $8,294,570.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,725 shares of company stock worth $4,690,053 over the last ninety days. Insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Enova International

Several hedge funds have recently bought and sold shares of ENVA. GAMMA Investing LLC grew its stake in shares of Enova International by 27.6% in the second quarter. GAMMA Investing LLC now owns 855 shares of the credit services provider’s stock worth $53,000 after acquiring an additional 185 shares during the last quarter. J.Safra Asset Management Corp lifted its stake in shares of Enova International by 83.8% in the first quarter. J.Safra Asset Management Corp now owns 930 shares of the credit services provider’s stock worth $58,000 after buying an additional 424 shares in the last quarter. USA Financial Formulas purchased a new stake in shares of Enova International during the third quarter valued at approximately $76,000. SG Americas Securities LLC bought a new stake in shares of Enova International during the first quarter valued at approximately $223,000. Finally, Lazard Asset Management LLC raised its holdings in Enova International by 21.1% in the 1st quarter. Lazard Asset Management LLC now owns 3,649 shares of the credit services provider’s stock worth $228,000 after acquiring an additional 636 shares during the last quarter. Institutional investors own 89.43% of the company’s stock.

Enova International Company Profile

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.