Enova International (NYSE:ENVA) Downgraded by Zacks Research to “Hold”

Zacks Research lowered shares of Enova International (NYSE:ENVA) from a strong-buy rating to a hold rating in a report published on Wednesday,Zacks reports.

Several other equities research analysts have also issued reports on ENVA. BTIG Research raised their target price on Enova International from $199.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, June 30th. Weiss Ratings restated a “buy (b-)” rating on shares of Enova International in a research report on Friday, July 17th. Stephens decreased their price objective on shares of Enova International from $275.00 to $205.00 and set an “overweight” rating for the company in a report on Thursday. Citizens Jmp decreased their price objective on shares of Enova International from $270.00 to $215.00 and set a “market outperform” rating for the company in a report on Tuesday. Finally, Wall Street Zen lowered shares of Enova International from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 22nd. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.67.

Enova International Trading Up 4.2%

Shares of ENVA stock opened at $179.40 on Wednesday. The company has a debt-to-equity ratio of 3.35, a quick ratio of 18.42 and a current ratio of 18.42. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 13.30 and a beta of 1.21. Enova International has a 52-week low of $103.02 and a 52-week high of $267.45. The company has a 50-day simple moving average of $237.33 and a two-hundred day simple moving average of $192.67.

Enova International (NYSE:ENVA) last announced its earnings results on Thursday, July 23rd. The credit services provider reported $4.31 earnings per share for the quarter, topping analysts’ consensus estimates of $3.99 by $0.32. The firm had revenue of $928.93 million for the quarter, compared to the consensus estimate of $909.61 million. Enova International had a return on equity of 26.66% and a net margin of 10.31%.The company’s revenue was up 21.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.23 EPS. Research analysts anticipate that Enova International will post 16.33 EPS for the current fiscal year.

Insider Activity

In other news, Chairman David Fisher sold 9,078 shares of the company’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $239.16, for a total transaction of $2,171,094.48. Following the transaction, the chairman owned 306,444 shares of the company’s stock, valued at $73,289,147.04. This represents a 2.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 8.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Enova International

Large investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC purchased a new stake in Enova International during the second quarter valued at about $52,000. McIlrath & Eck LLC purchased a new stake in shares of Enova International during the 1st quarter valued at approximately $34,000. Pacer Advisors Inc. lifted its stake in shares of Enova International by 58.5% during the 1st quarter. Pacer Advisors Inc. now owns 412 shares of the credit services provider’s stock valued at $56,000 after buying an additional 152 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Enova International by 1,503.3% in the 1st quarter. Parallel Advisors LLC now owns 481 shares of the credit services provider’s stock worth $65,000 after buying an additional 451 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new position in Enova International in the 2nd quarter worth approximately $116,000. Hedge funds and other institutional investors own 89.43% of the company’s stock.

Key Headlines Impacting Enova International

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.