JMP Securities Issues Positive Forecast for Atlanticus (NASDAQ:ATLC) Stock Price

Key Points

• JMP Securities has raised its price objective for Atlanticus' stock from $75.00 to $78.00, indicating a potential upside of 31.05% from its current price.
• Atlanticus recently reported a quarterly earnings per share (EPS) of $1.51, surpassing analysts' consensus estimates of $1.30 and achieving a revenue of $393.82 million for the quarter.
• Currently, Atlanticus holds a consensus rating of "Buy" with varying ratings from analysts, including three "buy" ratings and two "strong buy" ratings.

Atlanticus (NASDAQ:ATLC - Get Free Report) had its price objective boosted by analysts at JMP Securities from $75.00 to $78.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a "market outperform" rating on the credit services provider's stock. JMP Securities' target price suggests a potential upside of 31.05% from the stock's current price.

Other analysts have also recently issued reports about the company. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $60.00 price target (up from $52.00) on shares of Atlanticus in a research report on Monday, May 12th. Wall Street Zen upgraded Atlanticus from a "buy" rating to a "strong-buy" rating in a research report on Saturday. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $63.20.

Atlanticus Trading Up 4.8%

Atlanticus stock opened at $59.52 on Tuesday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.55. Atlanticus has a 52 week low of $30.00 and a 52 week high of $64.70. The company has a market capitalization of $899.94 million, a price-to-earnings ratio of 10.46 and a beta of 1.93. The stock has a 50-day moving average price of $52.57 and a 200 day moving average price of $52.79.

Atlanticus (NASDAQ:ATLC - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The credit services provider reported $1.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.30 by $0.21. Atlanticus had a return on equity of 24.20% and a net margin of 8.51%. The company had revenue of $393.82 million during the quarter, compared to the consensus estimate of $373.87 million. Sell-side analysts anticipate that Atlanticus will post 4.49 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. New York State Teachers Retirement System raised its holdings in shares of Atlanticus by 151.5% in the second quarter. New York State Teachers Retirement System now owns 503 shares of the credit services provider's stock worth $28,000 after acquiring an additional 303 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Atlanticus by 229.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 728 shares of the credit services provider's stock worth $41,000 after purchasing an additional 507 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Atlanticus during the first quarter worth about $56,000. Jones Financial Companies Lllp acquired a new position in shares of Atlanticus during the first quarter worth about $71,000. Finally, US Bancorp DE acquired a new position in shares of Atlanticus in the first quarter worth about $74,000. 14.15% of the stock is currently owned by hedge funds and other institutional investors.

Atlanticus Company Profile

Atlanticus Holdings Corporation, a financial technology company, provides credit and related financial services and products to customers the United States. It operates in two segments, Credit as a Service, and Auto Finance. The Credit as a Service segment originates a range of consumer loan products, such as private label and general purpose credit cards originated by lenders through various channels, including retail and healthcare, direct mail solicitation, digital marketing, and partnerships with third parties; and offers credit to their customers for the purchase of various goods and services, including consumer electronics, furniture, elective medical procedures, healthcare, and home-improvements by partnering with retailers, healthcare providers, and other service providers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.