EZCORP (NASDAQ:EZPW) Hits New 1-Year High Following Analyst Upgrade

Key Points

• EZCORP hit a new 52-week high after Canaccord Genuity raised its price target from $34 to $40 and reiterated a buy rating, with the stock trading as high as $27.70 (prior close $26.58).
• The stock's consensus on MarketBeat is a “Moderate Buy” (average price target $29.50) based on 1 Strong Buy, 5 Buy and 2 Hold ratings, and several analysts recently raised targets or upgraded the name.
• Fundamentals and ownership support the move: EZCORP beat quarterly estimates (EPS $0.55 vs $0.40; revenue $374.5M vs $363.6M) and institutional ownership is ~99.8%, with major funds increasing positions.

EZCORP, Inc. (NASDAQ:EZPW - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday after Canaccord Genuity Group raised their price target on the stock from $34.00 to $40.00. Canaccord Genuity Group currently has a buy rating on the stock. EZCORP traded as high as $27.70 and last traded at $27.66, with a volume of 904734 shares traded. The stock had previously closed at $26.58.

Several other research analysts also recently issued reports on the company. Citigroup reaffirmed an "outperform" rating on shares of EZCORP in a research note on Tuesday, January 20th. Wall Street Zen raised EZCORP from a "buy" rating to a "strong-buy" rating in a research note on Saturday, February 7th. Roth Mkm reaffirmed a "buy" rating and set a $26.00 price target on shares of EZCORP in a research note on Tuesday, January 6th. Stephens lifted their price objective on EZCORP from $22.00 to $26.00 and gave the stock an "equal weight" rating in a research report on Friday, February 6th. Finally, Zacks Research upgraded EZCORP from a "hold" rating to a "strong-buy" rating in a research report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $29.50.

Insider Activity

In related news, insider Ellen H. Bryant sold 20,000 shares of the business's stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $25.00, for a total value of $500,000.00. Following the completion of the transaction, the insider owned 147,786 shares of the company's stock, valued at approximately $3,694,650. The trade was a 11.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Nicole Swies sold 24,138 shares of the business's stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $24.75, for a total transaction of $597,415.50. Following the completion of the transaction, the executive directly owned 115,266 shares of the company's stock, valued at $2,852,833.50. The trade was a 17.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 84,138 shares of company stock worth $2,102,416. Company insiders own 2.13% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in EZCORP by 11.4% in the 3rd quarter. Vanguard Group Inc. now owns 3,610,029 shares of the credit services provider's stock valued at $68,735,000 after acquiring an additional 369,817 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in EZCORP by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,563,724 shares of the credit services provider's stock valued at $69,209,000 after acquiring an additional 84,566 shares during the last quarter. Capital Research Global Investors raised its holdings in EZCORP by 47.5% in the 4th quarter. Capital Research Global Investors now owns 3,167,748 shares of the credit services provider's stock valued at $61,518,000 after acquiring an additional 1,019,622 shares during the last quarter. Wasatch Advisors LP raised its holdings in EZCORP by 5.4% in the 2nd quarter. Wasatch Advisors LP now owns 2,321,138 shares of the credit services provider's stock valued at $32,217,000 after acquiring an additional 118,641 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in EZCORP by 28.5% in the 3rd quarter. Millennium Management LLC now owns 1,975,421 shares of the credit services provider's stock valued at $37,612,000 after acquiring an additional 437,601 shares during the last quarter. 99.83% of the stock is currently owned by institutional investors and hedge funds.

EZCORP Price Performance

The company has a fifty day simple moving average of $25.19 and a two-hundred day simple moving average of $21.39. The company has a debt-to-equity ratio of 0.48, a quick ratio of 4.69 and a current ratio of 6.03. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 17.73 and a beta of 0.52.

EZCORP (NASDAQ:EZPW - Get Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The credit services provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.15. EZCORP had a return on equity of 12.37% and a net margin of 9.18%.The company had revenue of $374.50 million during the quarter, compared to the consensus estimate of $363.63 million. As a group, research analysts anticipate that EZCORP, Inc. will post 1.3 earnings per share for the current year.

About EZCORP

EZCORP, Inc is a specialty consumer finance company that provides pawn loans and retail merchandise programs primarily through its EZPAWN and Cash Converters brands. The company offers collateral-based loans secured principally by jewelry, electronics, musical instruments and other personal items, alongside check-cashing, money-transfer and bill-payment services. In addition to its pawn lending operations, EZCORP acquires previously pawned or consumer merchandise for resale through its “Sell-It-Now” platform and retail storefronts.

Founded in 1989 and headquartered in San Antonio, Texas, EZCORP operates in two principal geographic markets: the United States and Mexico.

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