Wall Street Zen Upgrades Atlanticus (NASDAQ:ATLC) to "Strong-Buy"

Key Points

• Wall Street Zen upgraded Atlanticus (NASDAQ:ATLC) from a "buy" to a "strong-buy" rating in a recent research report.
• Several analysts have provided positive ratings for Atlanticus, with a consensus target price of $62.60 and multiple upward adjustments, including a target increase to $75.00 by JMP Securities.
• Atlanticus reported better-than-expected quarterly earnings of $1.51 per share, exceeding the consensus estimate of $1.30, alongside significant revenue growth.

Atlanticus (NASDAQ:ATLC - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Saturday.

A number of other analysts have also issued reports on ATLC. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $60.00 target price (up previously from $52.00) on shares of Atlanticus in a report on Monday, May 12th. JMP Securities raised their price objective on Atlanticus from $72.00 to $75.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 17th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $62.60.

Atlanticus Stock Performance

ATLC traded up $7.21 during midday trading on Friday, reaching $56.82. The company's stock had a trading volume of 66,714 shares, compared to its average volume of 52,091. The stock has a market cap of $859.12 million, a P/E ratio of 9.99 and a beta of 1.93. The company has a fifty day simple moving average of $52.35 and a 200 day simple moving average of $52.78. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.55. Atlanticus has a twelve month low of $30.00 and a twelve month high of $64.70.

Atlanticus (NASDAQ:ATLC - Get Free Report) last released its 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. The firm had revenue of $393.82 million for the quarter, compared to analyst estimates of $373.87 million. Atlanticus had a return on equity of 24.20% and a net margin of 8.51%. Research analysts expect that Atlanticus will post 4.49 earnings per share for the current year.

Hedge Funds Weigh In On Atlanticus

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP raised its position in Atlanticus by 198.9% in the 1st quarter. Wellington Management Group LLP now owns 365,278 shares of the credit services provider's stock valued at $18,684,000 after purchasing an additional 243,053 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in Atlanticus in the 1st quarter valued at $2,588,000. American Century Companies Inc. raised its position in Atlanticus by 82.4% in the 1st quarter. American Century Companies Inc. now owns 95,476 shares of the credit services provider's stock valued at $4,884,000 after purchasing an additional 43,142 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Atlanticus in the 1st quarter valued at $1,666,000. Finally, AQR Capital Management LLC bought a new position in Atlanticus in the 1st quarter valued at $1,083,000. Institutional investors own 14.15% of the company's stock.

About Atlanticus

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.