Encore Capital Group (NASDAQ:ECPG) Upgraded to “Buy” 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 report published on Friday morning.

ECPG has been the subject of several other reports. JMP Securities lifted their target price on Encore Capital Group from $60.00 to $65.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 7th. Northland Capmk raised 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 upped their target price for the stock from $55.00 to $58.00 in a research note on Thursday, October 17th. Finally, Truist Financial lowered their price target on Encore Capital Group from $70.00 to $64.00 and set a “buy” rating for the company in a report on Tuesday, August 20th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Encore Capital Group presently has a consensus rating of “Buy” and an average target price of $62.33.

Encore Capital Group Stock Performance

Shares of NASDAQ:ECPG opened at $49.19 on Friday. 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 12 month low of $39.64 and a 12 month high of $54.55. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of -6.27 and a beta of 1.56. The firm’s 50-day moving average is $47.01 and its 200 day moving average is $46.25.

Encore Capital Group (NASDAQ:ECPG) last released its earnings results on Wednesday, November 6th. The asset manager reported $1.26 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $360.70 million. During the same period in the prior year, the company posted $0.79 EPS. The company’s quarterly revenue was up 18.6% compared to the same quarter last year. Research analysts predict that Encore Capital Group will post 5.09 EPS for the current year.

Insider Transactions at Encore Capital Group

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

Hedge Funds Weigh In On Encore Capital Group

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