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

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 Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued on Saturday.

A number of other analysts also recently weighed in on the company. JMP Securities upped their target price on Atlanticus from $72.00 to $75.00 and gave the company a "market outperform" rating in a research report on Thursday, July 17th. Keefe, Bruyette & Woods restated a "market perform" rating and set a $60.00 price objective (up from $52.00) on shares of Atlanticus in a research report on Monday, May 12th. 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 stock. According to MarketBeat.com, Atlanticus currently has a consensus rating of "Buy" and an average target price of $63.20.

Atlanticus Stock Performance

Shares of NASDAQ ATLC traded up $0.52 during midday trading on Friday, hitting $61.27. 11,122 shares of the company's stock were exchanged, compared to its average volume of 59,218. The company's 50 day moving average price is $52.78 and its 200 day moving average price is $52.85. The firm has a market capitalization of $926.40 million, a PE ratio of 10.74 and a beta of 1.93. Atlanticus has a 12 month low of $30.00 and a 12 month high of $64.70. 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 (NASDAQ:ATLC - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The credit services provider reported $1.51 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 firm had revenue of $393.82 million for the quarter, compared to analyst estimates of $373.87 million. As a group, analysts predict that Atlanticus will post 4.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Atlanticus

Several institutional investors and hedge funds have recently made changes to their positions in the stock. New York State Teachers Retirement System grew its stake in Atlanticus by 151.5% during the second quarter. New York State Teachers Retirement System now owns 503 shares of the credit services provider's stock worth $28,000 after purchasing an additional 303 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Atlanticus by 229.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 728 shares of the credit services provider's stock worth $41,000 after acquiring an additional 507 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in Atlanticus in the first quarter worth approximately $56,000. Jones Financial Companies Lllp bought a new position in Atlanticus in the first quarter worth approximately $71,000. Finally, US Bancorp DE bought a new position in Atlanticus in the first quarter worth approximately $74,000. Institutional investors and hedge funds 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.