Encore Capital Group (NASDAQ:ECPG) Stock Rating Upgraded by StockNews.com

Encore Capital Group (NASDAQ:ECPG) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

A number of other research firms also recently issued reports on ECPG. Truist Financial dropped their price target on Encore Capital Group from $70.00 to $64.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. JMP Securities raised their target price on Encore Capital Group from $60.00 to $65.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 7th. Northland Capmk raised shares of Encore Capital Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Finally, Northland Securities upgraded shares of Encore Capital Group from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $55.00 to $58.00 in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $62.33.

Encore Capital Group Price Performance

Shares of NASDAQ:ECPG opened at $49.19 on Friday. The business has a 50-day simple moving average of $47.04 and a two-hundred day simple moving average of $46.26. The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -6.27 and a beta of 1.56. Encore Capital Group has a fifty-two week low of $39.64 and a fifty-two week high of $54.55.

Encore Capital Group (NASDAQ:ECPG) last issued its quarterly earnings data on Wednesday, November 6th. The asset manager reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.22). Encore Capital Group had a negative net margin of 13.91% and a positive return on equity of 12.70%. The company had revenue of $367.07 million for the quarter, compared to the consensus estimate of $360.70 million. During the same quarter last year, the company earned $0.79 EPS. The firm’s revenue for the quarter was up 18.6% on a year-over-year basis. On average, analysts expect that Encore Capital Group will post 5.09 earnings per share for the current year.

Insider Buying and Selling at Encore Capital Group

In other Encore Capital Group news, Director Laura Olle sold 1,340 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $49.16, for a total transaction of $65,874.40. Following the sale, the director now owns 32,381 shares in the company, valued at approximately $1,591,849.96. This trade represents a 3.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.63% of the stock is currently owned by corporate insiders.

Institutional Trading of Encore Capital Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. CANADA LIFE ASSURANCE Co boosted its holdings in Encore Capital Group by 9.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 25,553 shares of the asset manager’s stock worth $1,163,000 after buying an additional 2,265 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Encore Capital Group by 5.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 16,949 shares of the asset manager’s stock worth $774,000 after purchasing an additional 823 shares in the last quarter. Comerica Bank raised its stake in Encore Capital Group by 22.1% during the 1st quarter. Comerica Bank now owns 13,181 shares of the asset manager’s stock valued at $601,000 after purchasing an additional 2,389 shares during the period. SG Americas Securities LLC purchased a new position in Encore Capital Group in the 2nd quarter worth approximately $416,000. Finally, Wedge Capital Management L L P NC boosted its stake in Encore Capital Group by 10.1% in the 2nd quarter. Wedge Capital Management L L P NC now owns 14,173 shares of the asset manager’s stock worth $591,000 after purchasing an additional 1,306 shares during the period.

Encore Capital Group Company Profile

Encore Capital Group, Inc, a specialty finance company, provides debt recovery solutions and other related services for consumers across financial assets worldwide. The company purchases portfolios of defaulted consumer receivables at deep discounts to face value, as well as manages them by working with individuals as they repay their obligations and works toward financial recovery.