Worldwide Acceptance (NASDAQ: WRLD – Get a rating) had its price target lowered by Stephens Research analysts from $105.00 to $87.00 in a research note released Friday to investors, Target Stock Advisor reports. The company currently has an “underweight” rating on shares of the credit service provider. Stephens’ price target suggests a potential upside of 13.84% from the company’s previous close.
A number of other brokerages also weighed in on WRLD. BMO Capital Markets reduced its target price on World Acceptance shares from $57.00 to $52.00 in a Friday, July 29 research report. StockNews.com downgraded shares of World Acceptance from a “buy” rating to a “hold” rating in a report on Wednesday, October 19.
Performance of Global Acceptance Actions
Shares of WRLD traded at $0.95 during midday trading on Friday, reaching $76.42. 3,497 shares of the company were traded, against an average volume of 63,533. World Acceptance has a 52-week low of $72.14 and a 52-week high of $265.75. The stock’s 50-day simple moving average is $107.64 and its 200-day simple moving average is $129.20. The company has a market capitalization of $479.92 million, a price-earnings ratio of 16.91 and a beta of 1.46. The company has a quick ratio of 17.67, a current ratio of 17.67 and a debt ratio of 2.19.
Worldwide Acceptance (NASDAQ: WRLD – Get a rating) last reported quarterly earnings data on Wednesday, July 27. The credit services provider reported earnings per share (EPS) of $1.15 for the quarter, beating consensus analyst estimates of $0.85 by $0.30. The company posted revenue of $157.59 million for the quarter, compared to $144.60 million expected by analysts. World Acceptance had a net margin of 4.81% and a return on equity of 11.50%. During the same period last year, the company posted earnings per share of $2.44. On average, equity research analysts expect World Acceptance to post 4.95 EPS for the current year.
Institutional investors weigh on global acceptance
Several hedge funds and other institutional investors have been buying and selling stocks recently. Kize Capital LP increased its position in World Acceptance shares by 5.1% during the second quarter. Kize Capital LP now owns 206,260 shares of the credit services provider worth $23,151,000 after acquiring an additional 10,000 shares in the last quarter. State Street Corp increased its position in World Acceptance shares by 1.9% during the first quarter. State Street Corp now owns 138,337 shares of the credit service provider worth $26,539,000 after acquiring 2,624 more shares last quarter. Landscape Capital Management LLC increased its position in World Acceptance shares by 11.0% during the first quarter. Landscape Capital Management LLC now owns 25,927 shares of the credit service provider worth $4,974,000 after acquiring 2,574 additional shares last quarter. Millennium Management LLC increased its position in World Acceptance shares by 408.6% during the second quarter. Millennium Management LLC now owns 20,832 shares of the credit service provider worth $2,338,000 after acquiring an additional 16,736 shares last quarter. Finally, Cubist Systematic Strategies LLC increased its holdings in World Acceptance by 364.7% during the second quarter. Cubist Systematic Strategies LLC now owns 13,146 shares of the credit service provider worth $1,476,000 after buying 10,317 additional shares in the last quarter. 87.09% of the shares are held by institutional investors.
About Global Acceptance
World Acceptance Corporation, together with its subsidiaries, is engaged in the small loan consumer finance business. The Company offers short-term, small-payment loans, medium-term, larger-payment loans, related credit insurance, and ancillary products and services to individuals. It also provides automobile club memberships to its borrowers; and electronic tax return preparation and filing services.
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Before you consider global acceptance, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five actions that top analysts are quietly whispering to their clients to buy now before the market spreads…and that World Acceptance was not on the list.
While World Acceptance currently has a “reduced” rating among analysts, top-rated analysts believe these five stocks are better buys.