Worldwide Acceptance (NASDAQ:WRLD – Get Rating) had its price target lowered by BMO Capital Markets from $57.00 to $52.00 in a research report released Friday to clients and investors, reports The Fly. BMO Capital Markets’ price target indicates a potential downside of 52.97% from the company’s current price.
A number of other brokerages have also weighed in on WRLD recently. Stephens cut his price target on World Acceptance shares from $159.00 to $105.00 and set an “underweight” rating on the stock in a research report on Thursday. StockNews.com upgraded World Acceptance from a “hold” rating to a “buy” rating in a Monday, May 2 report. Finally, TheStreet downgraded the global acceptance from a “b-” grade to a “c+” grade in a Thursday, May 12 research note.
Global acceptance trade down 3.5%
WRLD stock opened at $110.56 on Friday. The company has a quick ratio of 15.36, a current ratio of 15.36 and a leverage ratio of 1.86. The company has a market capitalization of $694.43 million, a price-earnings ratio of 13.02 and a beta of 1.56. The company has a fifty-day simple moving average of $121.43 and a 200-day simple moving average of $167.01. World Acceptance has a 52-week minimum of $98.96 and a 52-week maximum of $265.75.
World Acceptance (NASDAQ:WRLD – Get Rating) last announced its quarterly results on Wednesday, July 27. The credit service provider reported ($1.53) EPS for the quarter, missing the consensus estimate of $0.85 per ($2.38). World Acceptance had a return on equity of 13.42% and a net margin of 9.26%. During the same period last year, the company achieved EPS of $2.44. On average, equity research analysts expect World Acceptance to post EPS of 5.23 for the current year.
Institutional investors weigh on global acceptance
Several hedge funds and other institutional investors have recently changed their holdings of WRLD. CWM LLC acquired a new stock position in World Acceptance in Q4 worth approximately $48,000. Cooper Creek Partners Management LLC acquired a new equity stake in World Acceptance during the fourth quarter valued at $225,000. Jane Street Group LLC purchased a new stock position in World Acceptance in Q1 for approximately $225,000. Hsbc Holdings PLC acquired a new position in shares of World Acceptance in Q1 worth approximately $229,000. Finally, Everence Capital Management Inc. acquired a new equity stake in World Acceptance during Q1 worth approximately $234,000. Institutional investors hold 85.05% of the company’s shares.
About Global Acceptance
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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.
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