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 note issued to investors on Tuesday.

Several other equities research analysts also recently weighed in on ECPG. Northland Capmk raised Encore Capital Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. Truist Financial cut their price target 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 upgraded shares of Encore Capital Group from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $55.00 to $58.00 in a research note on Thursday, October 17th. Finally, JMP Securities boosted 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 report on Thursday, November 7th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $62.33.

Encore Capital Group Trading Down 0.2 %

Shares of Encore Capital Group stock traded down $0.08 on Tuesday, reaching $48.31. The stock had a trading volume of 13,005 shares, compared to its average volume of 148,564. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 3.39. The company has a 50 day moving average price of $46.72 and a 200 day moving average price of $45.87. 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 analysts’ consensus estimates of $1.48 by ($0.22). The business had revenue of $367.07 million for the quarter, compared to analyst estimates of $360.70 million. Encore Capital Group had a positive return on equity of 12.70% and a negative net margin of 13.91%. The business’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.79 earnings per share. On average, research analysts predict that Encore Capital Group will post 5.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Marshall Wace LLP raised its stake in shares of Encore Capital Group by 221.1% during the 2nd quarter. Marshall Wace LLP now owns 130,127 shares of the asset manager’s stock valued at $5,430,000 after buying an additional 89,596 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in Encore Capital Group by 17.8% in the first quarter. Clearbridge Investments LLC now owns 394,786 shares of the asset manager’s stock valued at $18,006,000 after acquiring an additional 59,624 shares during the period. Ogborne Capital Management LLC acquired a new position in Encore Capital Group in the first quarter valued at approximately $2,073,000. Millennium Management LLC boosted its position in Encore Capital Group by 60.0% in the 2nd quarter. Millennium Management LLC now owns 80,170 shares of the asset manager’s stock worth $3,345,000 after purchasing an additional 30,052 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Encore Capital Group by 4.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 481,497 shares of the asset manager’s stock worth $22,760,000 after purchasing an additional 18,467 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.