Encore Capital Group (NASDAQ:ECPG) Upgraded at StockNews.com

StockNews.com upgraded shares of Encore Capital Group (NASDAQ:ECPG) from a hold rating to a buy rating in a research report sent to investors on Friday morning.

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

Encore Capital Group Stock Performance

NASDAQ ECPG opened at $49.19 on Friday. The firm’s 50 day simple moving average is $47.04 and its 200 day simple moving average is $46.26. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of -6.27 and a beta of 1.56. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 3.39. Encore Capital Group has a 1 year low of $39.64 and a 1 year high of $54.55.

Encore Capital Group (NASDAQ:ECPG) last issued its quarterly earnings results on Wednesday, November 6th. The asset manager reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $367.07 million during the quarter, compared to the consensus estimate of $360.70 million. During the same quarter in the previous year, the business posted $0.79 EPS. The company’s revenue for the quarter was up 18.6% on a year-over-year basis. As a group, research analysts expect that Encore Capital Group will post 5.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Encore Capital Group

In other Encore Capital Group news, Director Laura Olle sold 1,340 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $49.16, for a total value of $65,874.40. Following the sale, the director now owns 32,381 shares in the company, valued at approximately $1,591,849.96. The trade was a 3.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.63% of the company’s stock.

Institutional Trading of Encore Capital Group

Several institutional investors have recently added to or reduced their stakes in the stock. Huntington National Bank raised its holdings in Encore Capital Group by 8,700.0% during the 3rd quarter. Huntington National Bank now owns 528 shares of the asset manager’s stock worth $25,000 after purchasing an additional 522 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Encore Capital Group during the second quarter worth $33,000. nVerses Capital LLC lifted its holdings in Encore Capital Group by 450.0% in the second quarter. nVerses Capital LLC now owns 1,100 shares of the asset manager’s stock valued at $46,000 after buying an additional 900 shares during the period. Innealta Capital LLC bought a new stake in Encore Capital Group during the second quarter valued at $60,000. Finally, KBC Group NV grew its holdings in Encore Capital Group by 54.9% during the 3rd quarter. KBC Group NV now owns 1,365 shares of the asset manager’s stock worth $65,000 after acquiring an additional 484 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.