Encore Capital Group (NASDAQ:ECPG) Price Target Cut to $57.00 by Analysts at Truist Financial

Encore Capital Group (NASDAQ:ECPG) had its target price decreased by Truist Financial from $64.00 to $57.00 in a report issued on Thursday,Benzinga reports. Truist Financial currently has a buy rating on the asset manager’s stock.

A number of other equities analysts have also recently weighed in on ECPG. Northland Securities upped their price target on Encore Capital Group from $58.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, December 23rd. JMP Securities upped their target price 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. Finally, StockNews.com raised shares of Encore Capital Group from a “hold” rating to a “buy” rating in a research note on Friday, November 29th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Encore Capital Group presently has an average rating of “Buy” and an average target price of $62.67.

Encore Capital Group Stock Performance

Shares of ECPG stock opened at $38.95 on Thursday. The company’s fifty day simple moving average is $48.54 and its 200-day simple moving average is $48.04. 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 52 week low of $36.37 and a 52 week high of $51.77. The company has a market cap of $922.76 million, a PE ratio of -4.96 and a beta of 1.55.

Encore Capital Group (NASDAQ:ECPG) last issued its quarterly earnings data on Wednesday, February 26th. The asset manager reported $1.50 EPS for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.05). Encore Capital Group had a positive return on equity of 12.70% and a negative net margin of 13.91%. The company had revenue of $265.62 million for the quarter, compared to analyst estimates of $373.40 million. As a group, equities research analysts anticipate that Encore Capital Group will post 5.09 EPS for the current year.

Institutional Trading of Encore Capital Group

Several institutional investors have recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. increased its holdings in Encore Capital Group by 30.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,416,499 shares of the asset manager’s stock valued at $67,667,000 after buying an additional 327,637 shares during the last quarter. Portolan Capital Management LLC bought a new position in Encore Capital Group during the fourth quarter worth $10,291,000. Phase 2 Partners LLC increased its stake in Encore Capital Group by 219.9% during the third quarter. Phase 2 Partners LLC now owns 241,509 shares of the asset manager’s stock valued at $11,416,000 after purchasing an additional 166,014 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Encore Capital Group by 73.1% in the 4th quarter. Marshall Wace LLP now owns 318,096 shares of the asset manager’s stock worth $15,195,000 after buying an additional 134,309 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Encore Capital Group by 16.0% in the third quarter. Wellington Management Group LLP now owns 756,335 shares of the asset manager’s stock worth $35,752,000 after acquiring an additional 104,509 shares during the last quarter.

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.