Encore Capital Group (NASDAQ:ECPG) Upgraded to “Strong-Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Encore Capital Group (NASDAQ:ECPGGet Rating) from a hold rating to a strong-buy rating in a research report sent to investors on Friday morning, Zacks.com reports. They currently have $71.00 target price on the asset manager’s stock.

A number of other research firms also recently issued reports on ECPG. StockNews.com assumed coverage on Encore Capital Group in a research note on Thursday, March 31st. They issued a hold rating on the stock. Truist Financial boosted their price objective on Encore Capital Group from $70.00 to $87.00 in a research report on Thursday, February 24th. Finally, Northland Securities boosted their target price on Encore Capital Group from $75.00 to $80.00 and gave the stock an outperform rating in a research report on Tuesday, February 15th. Three research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Buy and a consensus target price of $77.25.

Shares of ECPG traded down $0.35 during trading hours on Friday, reaching $61.62. 415,862 shares of the company traded hands, compared to its average volume of 252,252. Encore Capital Group has a 12 month low of $40.38 and a 12 month high of $72.67. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 4.20 and a beta of 1.29. The company’s fifty day moving average price is $61.78 and its two-hundred day moving average price is $61.56. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 2.53.

Encore Capital Group (NASDAQ:ECPGGet Rating) last issued its earnings results on Wednesday, May 4th. The asset manager reported $6.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $4.40. The business had revenue of $499.60 million during the quarter, compared to analysts’ expectations of $347.08 million. Encore Capital Group had a net margin of 25.45% and a return on equity of 33.46%. The business’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.97 earnings per share. On average, analysts expect that Encore Capital Group will post 8.18 EPS for the current year.

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

A number of hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake in shares of Encore Capital Group by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,780,986 shares of the asset manager’s stock worth $110,613,000 after buying an additional 10,800 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Encore Capital Group by 4.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,529,271 shares of the asset manager’s stock worth $75,347,000 after acquiring an additional 62,928 shares during the last quarter. BloombergSen Inc. lifted its stake in Encore Capital Group by 22.6% in the fourth quarter. BloombergSen Inc. now owns 1,053,878 shares of the asset manager’s stock worth $65,456,000 after acquiring an additional 194,267 shares during the last quarter. William Blair Investment Management LLC lifted its stake in Encore Capital Group by 12.7% in the fourth quarter. William Blair Investment Management LLC now owns 845,257 shares of the asset manager’s stock worth $52,499,000 after acquiring an additional 95,158 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Encore Capital Group by 3.2% in the fourth quarter. Principal Financial Group Inc. now owns 813,257 shares of the asset manager’s stock worth $50,511,000 after acquiring an additional 25,411 shares during the last quarter.

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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