Encore Capital Group (NASDAQ:ECPG) Upgraded by StockNews.com to “Buy” Rating

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 Tuesday.

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

Encore Capital Group Trading Down 2.4 %

NASDAQ:ECPG traded down $1.21 on Tuesday, hitting $48.80. 111,916 shares of the stock were exchanged, compared to its average volume of 149,665. The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.27 and a current ratio of 1.11. Encore Capital Group has a 52 week low of $39.64 and a 52 week high of $54.55. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of -6.22 and a beta of 1.56. The company’s 50-day moving average price is $46.67 and its 200 day moving average price is $45.78.

Encore Capital Group (NASDAQ:ECPG) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $360.70 million. Encore Capital Group had a negative net margin of 13.91% and a positive return on equity of 12.70%. Encore Capital Group’s revenue was up 18.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.79 earnings per share. On average, equities research analysts forecast that Encore Capital Group will post 5.09 earnings per share for the current year.

Hedge Funds Weigh In On Encore Capital Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Huntington National Bank increased its position 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 acquiring an additional 522 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Encore Capital Group in the 2nd quarter valued at about $33,000. nVerses Capital LLC lifted its holdings in shares of 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 purchasing an additional 900 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Encore Capital Group during the second quarter worth about $60,000. Finally, KBC Group NV grew its holdings in shares of Encore Capital Group by 54.9% during the third quarter. KBC Group NV now owns 1,365 shares of the asset manager’s stock worth $65,000 after buying an additional 484 shares in 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.