Atlanticus (NASDAQ:ATLC) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of Atlanticus (NASDAQ:ATLC) from a hold rating to a strong-buy rating in a research note issued to investors on Monday morning,Zacks.com reports.

Several other analysts have also recently issued reports on ATLC. Weiss Ratings restated a “hold (c-)” rating on shares of Atlanticus in a research report on Friday, March 27th. Wall Street Zen upgraded shares of Atlanticus from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 11th. Citizens Jmp upped their price target on shares of Atlanticus from $100.00 to $102.00 and gave the company a “market outperform” rating in a report on Tuesday, March 17th. Finally, B. Riley Financial upped their price target on shares of Atlanticus from $90.00 to $98.00 and gave the company a “buy” rating in a report on Monday, March 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $91.25.

Atlanticus Price Performance

Shares of NASDAQ ATLC traded up $1.96 during mid-day trading on Monday, hitting $73.67. 25,552 shares of the company’s stock traded hands, compared to its average volume of 67,049. The company’s 50-day moving average is $56.57 and its two-hundred day moving average is $58.16. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.23 and a quick ratio of 1.23. The company has a market capitalization of $1.10 billion, a P/E ratio of 12.41 and a beta of 1.88. Atlanticus has a 1 year low of $45.74 and a 1 year high of $78.91.

Atlanticus (NASDAQ:ATLC) last announced its earnings results on Thursday, March 12th. The credit services provider reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.10. The firm had revenue of $734.39 million for the quarter, compared to analysts’ expectations of $691.81 million. Atlanticus had a net margin of 6.21% and a return on equity of 22.39%. On average, equities analysts anticipate that Atlanticus will post 8.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Atlanticus

Several hedge funds have recently added to or reduced their stakes in ATLC. Murphy & Mullick Capital Management Corp bought a new position in Atlanticus during the 3rd quarter valued at about $38,000. Advisory Services Network LLC bought a new position in Atlanticus during the 3rd quarter valued at about $47,000. Jones Financial Companies Lllp bought a new position in Atlanticus during the 1st quarter valued at about $71,000. AlphaQuest LLC grew its stake in Atlanticus by 20,442.9% in the 3rd quarter. AlphaQuest LLC now owns 1,438 shares of the credit services provider’s stock worth $84,000 after acquiring an additional 1,431 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Atlanticus by 334.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,735 shares of the credit services provider’s stock worth $95,000 after acquiring an additional 1,336 shares in the last quarter. 14.15% of the stock is currently owned by institutional investors.

About Atlanticus

Atlanticus Holdings Corporation is a specialty financial services holding company that provides credit products and solutions to consumers across the United States. Through its subsidiaries, the company offers proprietary credit card programs, installment loan products and deposit accounts designed to serve customers who may have limited access to traditional credit. Atlanticus markets its offerings through a variety of channels, including direct‐to‐consumer online platforms, mail order, call centers and partnerships with retail and e-commerce businesses.

The company underwrites and services credit card portfolios under private-label and co-branded agreements, combining technology‐enabled underwriting with tailored customer service.