Encore Capital Group (NASDAQ:ECPG) Rating Increased to Buy at StockNews.com

Encore Capital Group (NASDAQ:ECPG) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

Several other research analysts have also weighed in on the stock. Truist Financial lowered their price objective on shares of 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. Northland Securities raised Encore Capital Group from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $55.00 to $58.00 in a research report on Thursday, October 17th. Northland Capmk raised Encore Capital Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Finally, JMP Securities boosted their target price on Encore Capital Group from $60.00 to $65.00 and gave the stock a “market outperform” rating in a report on Thursday, November 7th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $62.33.

Encore Capital Group Stock Down 2.4 %

ECPG stock traded down $1.21 during mid-day trading on Tuesday, reaching $48.80. The company had a trading volume of 111,916 shares, compared to its average volume of 149,665. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of -6.22 and a beta of 1.56. Encore Capital Group has a 52 week low of $39.64 and a 52 week high of $54.55. The stock has a 50 day simple moving average of $46.67 and a two-hundred day simple moving average of $45.78. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.11 and a quick ratio of 1.27.

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

Institutional Investors Weigh In On Encore Capital Group

Several hedge funds have recently bought and sold shares of the stock. ProShare Advisors LLC increased its stake in shares of Encore Capital Group by 7.4% during the first quarter. ProShare Advisors LLC now owns 4,692 shares of the asset manager’s stock worth $214,000 after purchasing an additional 323 shares during the period. Victory Capital Management Inc. grew its holdings in Encore Capital Group by 8.8% in the 2nd quarter. Victory Capital Management Inc. now owns 4,980 shares of the asset manager’s stock valued at $208,000 after buying an additional 403 shares in the last quarter. KBC Group NV increased its position 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 buying an additional 484 shares during the period. Huntington National Bank lifted its holdings in shares of Encore Capital Group by 8,700.0% during the third quarter. Huntington National Bank now owns 528 shares of the asset manager’s stock worth $25,000 after buying an additional 522 shares in the last quarter. Finally, Inspire Investing LLC boosted its position in shares of Encore Capital Group by 9.8% in the second quarter. Inspire Investing LLC now owns 8,536 shares of the asset manager’s stock valued at $356,000 after acquiring an additional 759 shares during the period.

About Encore Capital Group

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.