Enova International (NYSE:ENVA) Hits New 1-Year High After Analyst Upgrade

Key Points

• Enova International shares reached a new 52-week high of $247.33 after Wall Street Zen upgraded the stock to “strong buy.” The stock closed recently at $246.59, up from $237.27.
• Analyst sentiment remains positive, with eight Buy ratings and one Hold rating producing a consensus “Moderate Buy” rating and an average price target of $247.83. Jefferies recently raised its target to $280.
• Enova exceeded quarterly expectations, reporting adjusted earnings of $4.31 per share and revenue of $928.93 million, up 21.6% year over year. However, insiders sold approximately $19.8 million of stock over the past three months.

Enova International, Inc. (NYSE:ENVA - Get Free Report)'s share price hit a new 52-week high during trading on Monday after Wall Street Zen upgraded the stock from a buy rating to a strong-buy rating. The stock traded as high as $247.33 and last traded at $246.59, with a volume of 30659 shares. The stock had previously closed at $237.27.

A number of other research firms also recently commented on ENVA. Jefferies Financial Group boosted their target price on shares of Enova International from $260.00 to $280.00 and gave the stock a "buy" rating in a report on Wednesday, July 8th. Citizens Jmp upped their price target on Enova International from $195.00 to $270.00 and gave the company a "market outperform" rating in a report on Friday, June 26th. Maxim Group increased their price objective on Enova International from $191.00 to $200.00 and gave the company a "buy" rating in a research report on Monday, April 27th. Zacks Research lowered Enova International from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 26th. Finally, Citigroup restated a "market outperform" rating on shares of Enova International in a report on Friday. Eight research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $247.83.

Insider Activity

In related news, Director Mark Tebbe sold 20,000 shares of the company's stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $201.37, for a total value of $4,027,400.00. Following the completion of the sale, the director owned 50,029 shares in the company, valued at approximately $10,074,339.73. This represents a 28.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William M. Goodyear sold 3,500 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $188.02, for a total value of $658,070.00. Following the completion of the sale, the director owned 50,820 shares of the company's stock, valued at $9,555,176.40. The trade was a 6.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 106,882 shares of company stock worth $19,757,389 over the last three months. 8.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Enova International

Large investors have recently made changes to their positions in the business. Geode Capital Management LLC boosted its holdings in shares of Enova International by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 611,208 shares of the credit services provider's stock worth $96,095,000 after purchasing an additional 18,258 shares during the period. CX Institutional increased its stake in Enova International by 2.7% in the 4th quarter. CX Institutional now owns 72,224 shares of the credit services provider's stock valued at $11,354,000 after buying an additional 1,872 shares during the period. Hillsdale Investment Management Inc. increased its stake in Enova International by 3.9% in the 1st quarter. Hillsdale Investment Management Inc. now owns 62,211 shares of the credit services provider's stock valued at $8,450,000 after buying an additional 2,351 shares during the period. Los Angeles Capital Management LLC lifted its position in Enova International by 13.1% in the 4th quarter. Los Angeles Capital Management LLC now owns 49,021 shares of the credit services provider's stock worth $7,706,000 after buying an additional 5,660 shares in the last quarter. Finally, Informed Momentum Co LLC purchased a new stake in Enova International in the 4th quarter worth approximately $6,243,000. Institutional investors and hedge funds own 89.43% of the company's stock.

Enova International Stock Up 4.6%

The business's 50 day simple moving average is $201.55 and its 200-day simple moving average is $169.61. 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 cap of $6.18 billion, a price-to-earnings ratio of 18.40 and a beta of 1.21.

Enova International (NYSE:ENVA - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The credit services provider reported $4.31 earnings per share for the quarter, topping analysts' consensus estimates of $3.96 by $0.35. Enova International had a net margin of 10.31% and a return on equity of 26.66%. The business had revenue of $928.93 million for the quarter, compared to the consensus estimate of $909.61 million. During the same period in the prior year, the business posted $3.23 earnings per share. Enova International's revenue for the quarter was up 21.6% compared to the same quarter last year. Sell-side analysts expect that Enova International, Inc. will post 15.37 earnings per share for the current year.

About Enova International

Enova International, Inc NYSE: ENVA is a Chicago-based financial services company specializing in online lending solutions. Since its founding in 2004, Enova has leveraged proprietary data analytics and technology platforms to underwrite and deliver short-term consumer loans, lines of credit and installment loans. Through its flagship consumer brand NetCredit, Enova provides flexible credit options designed to serve a wide range of borrowers, including those with limited or non-traditional credit histories.

In addition to its U.S.

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