Enova International (NYSE:ENVA) Sets New 52-Week High – Still a Buy?

Enova International, Inc. (NYSE:ENVA)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $99.89 and last traded at $99.89, with a volume of 1061 shares. The stock had previously closed at $91.98.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ENVA shares. BTIG Research raised their price objective on Enova International from $90.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. TD Cowen lifted their price target on Enova International from $85.00 to $96.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. StockNews.com raised Enova International from a “hold” rating to a “buy” rating in a research note on Monday, October 21st. JMP Securities lifted their target price on shares of Enova International from $103.00 to $109.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 23rd. Finally, Janney Montgomery Scott lowered shares of Enova International from a “buy” rating to a “neutral” rating in a report on Monday, August 26th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.33.

Enova International Stock Performance

The business has a 50 day moving average of $84.26 and a 200-day moving average of $73.40. The company has a market capitalization of $2.64 billion, a P/E ratio of 16.05 and a beta of 1.42. The company has a debt-to-equity ratio of 2.79, a quick ratio of 15.82 and a current ratio of 15.82.

Enova International (NYSE:ENVA) last announced its quarterly earnings results on Tuesday, October 22nd. The credit services provider reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.14. Enova International had a return on equity of 18.41% and a net margin of 7.19%. The firm had revenue of $689.92 million for the quarter, compared to analysts’ expectations of $666.33 million. During the same period in the prior year, the business posted $1.33 earnings per share. The company’s revenue was up 25.1% on a year-over-year basis. On average, sell-side analysts predict that Enova International, Inc. will post 8.04 EPS for the current fiscal year.

Enova International declared that its board has authorized a stock repurchase program on Monday, August 12th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the credit services provider to buy up to 12.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, CAO James Joseph Lee sold 615 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $89.59, for a total transaction of $55,097.85. Following the completion of the transaction, the chief accounting officer now directly owns 20,646 shares in the company, valued at $1,849,675.14. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Steven E. Cunningham sold 29,158 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $89.53, for a total value of $2,610,515.74. Following the transaction, the chief financial officer now owns 130,355 shares of the company’s stock, valued at $11,670,683.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO James Joseph Lee sold 615 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $89.59, for a total transaction of $55,097.85. Following the sale, the chief accounting officer now owns 20,646 shares in the company, valued at approximately $1,849,675.14. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 90,843 shares of company stock worth $8,121,179. Corporate insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ENVA. GAMMA Investing LLC raised its position in Enova International by 27.6% in the 2nd quarter. GAMMA Investing LLC now owns 855 shares of the credit services provider’s stock worth $53,000 after purchasing an additional 185 shares during the period. J.Safra Asset Management Corp increased its holdings 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 during the period. USA Financial Formulas bought a new stake in shares of Enova International in the 3rd quarter valued at about $76,000. SG Americas Securities LLC purchased a new stake in Enova International during the 1st quarter valued at about $223,000. Finally, Lazard Asset Management LLC grew its position in Enova International by 21.1% during 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.

About Enova International

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.