Encore Capital Group (NASDAQ:ECPG) Lowered to “Buy” Rating by Wall Street Zen
by Sarita Garza · The Markets DailyWall Street Zen cut shares of Encore Capital Group (NASDAQ:ECPG – Free Report) from a strong-buy rating to a buy rating in a research report report published on Saturday.
Several other research firms also recently weighed in on ECPG. Zacks Research raised shares of Encore Capital Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. Citigroup reaffirmed an “outperform” rating on shares of Encore Capital Group in a research note on Tuesday, January 20th. Citizens Jmp lifted their price objective on Encore Capital Group from $75.00 to $90.00 and gave the stock a “market outperform” rating in a report on Thursday, February 26th. Truist Financial boosted their target price on Encore Capital Group from $59.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Finally, Northland Securities set a $70.00 target price on Encore Capital Group in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Encore Capital Group currently has a consensus rating of “Buy” and an average price target of $75.50.
Get Our Latest Stock Analysis on ECPG
Encore Capital Group Trading Down 2.6%
ECPG stock opened at $68.87 on Friday. The company has a market capitalization of $1.47 billion, a PE ratio of 6.28 and a beta of 1.35. Encore Capital Group has a one year low of $26.45 and a one year high of $74.58. The company’s 50 day moving average price is $62.15 and its two-hundred day moving average price is $53.38. The company has a debt-to-equity ratio of 4.10, a quick ratio of 0.68 and a current ratio of 0.68.
Encore Capital Group (NASDAQ:ECPG – Get Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The asset manager reported $3.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $1.17. Encore Capital Group had a net margin of 14.52% and a return on equity of 28.19%. The firm had revenue of $473.55 million during the quarter, compared to analyst estimates of $423.14 million. During the same period in the previous year, the business posted ($9.42) EPS. The business’s quarterly revenue was up 78.3% on a year-over-year basis. As a group, analysts predict that Encore Capital Group will post 5.09 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Encore Capital Group news, insider Ryan B. Bell sold 7,240 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $69.04, for a total transaction of $499,849.60. Following the completion of the sale, the insider owned 48,170 shares of the company’s stock, valued at $3,325,656.80. This represents a 13.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.54% of the stock is owned by insiders.
Hedge Funds Weigh In On Encore Capital Group
Hedge funds and other institutional investors have recently modified their holdings of the company. IFP Advisors Inc grew its stake in shares of Encore Capital Group by 1,729.6% in the fourth quarter. IFP Advisors Inc now owns 494 shares of the asset manager’s stock worth $27,000 after purchasing an additional 467 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Encore Capital Group by 185.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 717 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 466 shares during the last quarter. Allworth Financial LP raised its position in Encore Capital Group by 29.1% during the 4th quarter. Allworth Financial LP now owns 1,139 shares of the asset manager’s stock valued at $62,000 after purchasing an additional 257 shares during the last quarter. LSV Asset Management purchased a new stake in Encore Capital Group in the 3rd quarter worth approximately $88,000. Finally, Tower Research Capital LLC TRC lifted its holdings in Encore Capital Group by 168.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,716 shares of the asset manager’s stock worth $105,000 after buying an additional 1,706 shares during the period.
Encore Capital Group Company Profile
Encore Capital Group, Inc is a global specialty finance company that focuses on the purchase and management of nonperforming consumer receivables. Through its subsidiaries, the company acquires charged-off debt portfolios from credit card issuers, banks, and other financial institutions, and seeks to recover outstanding balances through a combination of customer outreach, payment arrangements, and, where appropriate, legal collection efforts. Encore’s business model emphasizes compliance with regulatory and industry standards to ensure ethical and transparent debt-recovery practices.
Headquartered in San Diego, California, Encore operates across North America and Europe.