Zacks Investment Research Upgrades World Acceptance (WRLD) to “Strong-Buy”

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Zacks Investment Research upgraded shares of World Acceptance (NASDAQ:WRLD) from a hold rating to a strong-buy rating in a research report released on Friday morning, Zacks.com reports. The brokerage currently has $156.00 price objective on the credit services provider’s stock.

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. “

A number of other analysts also recently commented on WRLD. BidaskClub upgraded World Acceptance from a hold rating to a buy rating in a research note on Tuesday, April 30th. ValuEngine upgraded World Acceptance from a hold rating to a buy rating in a research note on Sunday, February 10th. Finally, BMO Capital Markets lowered their target price on World Acceptance to $66.00 and set an underperform rating on the stock in a research note on Friday, February 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. World Acceptance presently has an average rating of Buy and an average target price of $111.00.

Shares of WRLD stock opened at $136.58 on Friday. The company has a current ratio of 15.02, a quick ratio of 18.52 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $1.31 billion, a PE ratio of 17.01 and a beta of 2.53. World Acceptance has a fifty-two week low of $89.78 and a fifty-two week high of $146.62.

World Acceptance (NASDAQ:WRLD) last announced its quarterly earnings data on Thursday, May 9th. The credit services provider reported $4.22 earnings per share for the quarter, beating analysts’ consensus estimates of $3.56 by $0.66. The business had revenue of $157.00 million for the quarter, compared to analyst estimates of $146.60 million. World Acceptance had a return on equity of 13.39% and a net margin of 6.84%. The company’s revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the company earned $3.70 earnings per share. Research analysts anticipate that World Acceptance will post 8.14 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp increased its stake in World Acceptance by 4.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 165,910 shares of the credit services provider’s stock valued at $18,973,000 after purchasing an additional 7,531 shares in the last quarter. MetLife Investment Advisors LLC increased its stake in World Acceptance by 66.5% during the 3rd quarter. MetLife Investment Advisors LLC now owns 4,741 shares of the credit services provider’s stock valued at $542,000 after purchasing an additional 1,893 shares in the last quarter. Teachers Advisors LLC increased its stake in World Acceptance by 5.6% during the 3rd quarter. Teachers Advisors LLC now owns 12,002 shares of the credit services provider’s stock valued at $1,373,000 after purchasing an additional 641 shares in the last quarter. Legal & General Group Plc increased its stake in World Acceptance by 13.0% during the 3rd quarter. Legal & General Group Plc now owns 13,652 shares of the credit services provider’s stock valued at $1,561,000 after purchasing an additional 1,572 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its stake in World Acceptance by 12.3% during the 4th quarter. State of Alaska Department of Revenue now owns 2,238 shares of the credit services provider’s stock valued at $228,000 after purchasing an additional 245 shares in the last quarter. Hedge funds and other institutional investors own 90.41% of the company’s stock.

About World Acceptance

World Acceptance Corporation engages in small-loan consumer finance business. The company offers short-term small and medium-term larger installment loans, as well as related credit insurance and ancillary products and services to individuals. It also provides automobile club memberships to its borrowers; and income tax return preparation and electronic filing services.

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