Encore Capital Group (NASDAQ:ECPG) Lifted to Hold at Zacks Investment Research

Encore Capital Group (NASDAQ:ECPGGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks.com reports.

Other research analysts have also issued reports about the company. StockNews.com began coverage on Encore Capital Group in a report on Thursday, March 31st. They issued a “hold” rating for the company. Northland Securities lifted their target price on Encore Capital Group from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Tuesday, February 15th. Finally, Truist Financial lifted their target price on Encore Capital Group from $70.00 to $87.00 in a report on Thursday, February 24th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $76.00.

ECPG stock traded down $0.74 during midday trading on Tuesday, hitting $57.76. 189,308 shares of the company’s stock were exchanged, compared to its average volume of 419,722. The business has a 50-day simple moving average of $63.70 and a two-hundred day simple moving average of $61.20. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 2.53. The stock has a market capitalization of $1.42 billion, a PE ratio of 5.14 and a beta of 1.31. Encore Capital Group has a 1-year low of $38.23 and a 1-year high of $72.67.

Encore Capital Group (NASDAQ:ECPGGet Rating) last posted its earnings results on Wednesday, February 23rd. The asset manager reported $2.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.39. Encore Capital Group had a return on equity of 27.46% and a net margin of 21.73%. The company had revenue of $357.30 million during the quarter, compared to analysts’ expectations of $361.60 million. During the same quarter last year, the firm earned $1.30 earnings per share. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. As a group, research analysts expect that Encore Capital Group will post 8.18 EPS for the current fiscal year.

In other Encore Capital Group news, insider Ryan B. Bell sold 6,662 shares of Encore Capital Group stock in a transaction dated Friday, March 11th. The stock was sold at an average price of $63.60, for a total transaction of $423,703.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.01% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. First Horizon Advisors Inc. acquired a new stake in shares of Encore Capital Group during the third quarter worth about $38,000. O Shaughnessy Asset Management LLC increased its position in Encore Capital Group by 30,950.0% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 1,242 shares of the asset manager’s stock valued at $61,000 after acquiring an additional 1,238 shares during the period. Point72 Hong Kong Ltd acquired a new position in Encore Capital Group in the 4th quarter valued at about $65,000. Royal Bank of Canada increased its position in Encore Capital Group by 32.2% in the 2nd quarter. Royal Bank of Canada now owns 4,094 shares of the asset manager’s stock valued at $194,000 after acquiring an additional 997 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Encore Capital Group by 28.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,166 shares of the asset manager’s stock valued at $197,000 after acquiring an additional 698 shares during the period.

About Encore Capital Group (Get Rating)

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.

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