World Acceptance Corporation (WRLD) Lifted to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of World Acceptance Corporation (NASDAQ:WRLD) from a strong sell rating to a hold rating in a research note published on Thursday morning.
According to Zacks, “World Acceptance Corporation is engaged in the small-loan consumer finance business, offering short-term small loans, medium-term larger loans, related credit insurance and ancillary products and services to individuals. “
WRLD has been the topic of several other reports. BMO Capital Markets reaffirmed a sell rating and issued a $62.00 target price on shares of World Acceptance Corporation in a report on Friday, June 16th. BidaskClub cut World Acceptance Corporation from a buy rating to a hold rating in a report on Wednesday, July 19th. Finally, ValuEngine raised World Acceptance Corporation from a buy rating to a strong-buy rating in a report on Tuesday, August 1st. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $52.33.
World Acceptance Corporation (NASDAQ:WRLD) traded down 1.66% during trading on Thursday, hitting $84.32. The stock had a trading volume of 56,100 shares. The company has a 50-day moving average of $78.65 and a 200 day moving average of $71.73. World Acceptance Corporation has a 52-week low of $42.01 and a 52-week high of $88.26. The firm has a market cap of $734.01 million, a P/E ratio of 10.58 and a beta of 2.39.
World Acceptance Corporation (NASDAQ:WRLD) last issued its earnings results on Thursday, August 3rd. The credit services provider reported $1.48 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.02 by ($0.54). World Acceptance Corporation had a return on equity of 15.75% and a net margin of 13.13%. The firm had revenue of $128.90 million during the quarter, compared to the consensus estimate of $125.74 million. During the same period last year, the firm posted $1.89 earnings per share. On average, equities research analysts predict that World Acceptance Corporation will post $7.48 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in WRLD. Koch Industries Inc. purchased a new position in World Acceptance Corporation in the second quarter worth about $265,000. Dimensional Fund Advisors LP grew its position in World Acceptance Corporation by 28.9% in the second quarter. Dimensional Fund Advisors LP now owns 521,631 shares of the credit services provider’s stock worth $39,075,000 after acquiring an additional 116,986 shares in the last quarter. Vanguard Group Inc. grew its position in World Acceptance Corporation by 5.7% in the first quarter. Vanguard Group Inc. now owns 1,078,168 shares of the credit services provider’s stock worth $55,827,000 after acquiring an additional 58,557 shares in the last quarter. Numeric Investors LLC grew its position in World Acceptance Corporation by 518.6% in the second quarter. Numeric Investors LLC now owns 53,557 shares of the credit services provider’s stock worth $4,012,000 after acquiring an additional 44,899 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in World Acceptance Corporation by 114.9% in the second quarter. Goldman Sachs Group Inc. now owns 64,223 shares of the credit services provider’s stock worth $4,811,000 after acquiring an additional 34,341 shares in the last quarter. Institutional investors own 91.93% of the company’s stock.
World Acceptance Corporation Company Profile
World Acceptance Corporation operates a small-loan consumer finance business in 15 states and Mexico as of March 31, 2016. The Company offers short-term small installment loans, medium-term larger installment loans, related credit insurance and ancillary products and services to individuals. The Company offers standardized installment loans generally between $300 and $4,000 through 1,339 branches in Alabama, Georgia, Idaho, Illinois, Indiana, Kentucky, Louisiana, Mississippi, Missouri, New Mexico, Oklahoma, South Carolina, Texas, Tennessee, Wisconsin and Mexico as of March 31, 2016.
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