Encore Capital Group (NASDAQ:ECPG) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of Encore Capital Group (NASDAQ:ECPG) from a buy rating to a hold rating in a report released on Friday.

Several other research firms also recently weighed in on ECPG. Truist Financial lowered their target price on Encore Capital Group from $64.00 to $57.00 and set a “buy” rating on the stock in a research report on Thursday. JMP Securities lifted their target price on Encore Capital Group from $60.00 to $65.00 and gave the company a “market outperform” rating in a research report on Thursday, November 7th. Finally, Northland Securities lifted their target price on Encore Capital Group from $58.00 to $66.00 and gave the company an “outperform” rating in a research report on Monday, December 23rd. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Encore Capital Group currently has an average rating of “Buy” and an average price target of $62.67.

Encore Capital Group Stock Performance

Shares of ECPG opened at $37.72 on Friday. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.11 and a quick ratio of 1.11. Encore Capital Group has a one year low of $35.38 and a one year high of $51.77. The firm has a market capitalization of $893.62 million, a P/E ratio of -4.81 and a beta of 1.55. The business has a fifty day moving average of $48.36 and a 200 day moving average of $47.97.

Encore Capital Group (NASDAQ:ECPG) last issued its quarterly earnings data on Wednesday, February 26th. The asset manager reported $1.50 EPS for the quarter, missing the consensus estimate of $1.55 by ($0.05). Encore Capital Group had a positive return on equity of 12.70% and a negative net margin of 13.91%. The firm had revenue of $265.62 million during the quarter, compared to the consensus estimate of $373.40 million. As a group, sell-side analysts anticipate that Encore Capital Group will post 5.09 EPS for the current year.

Institutional Investors Weigh In On Encore Capital Group

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Encore Capital Group by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 2,588,969 shares of the asset manager’s stock worth $123,675,000 after acquiring an additional 16,663 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in Encore Capital Group by 30.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,416,499 shares of the asset manager’s stock worth $67,667,000 after acquiring an additional 327,637 shares during the last quarter. Stephens Investment Management Group LLC grew its stake in shares of Encore Capital Group by 0.5% during the third quarter. Stephens Investment Management Group LLC now owns 1,137,752 shares of the asset manager’s stock valued at $53,782,000 after buying an additional 5,373 shares during the last quarter. State Street Corp grew its stake in shares of Encore Capital Group by 0.3% during the third quarter. State Street Corp now owns 900,677 shares of the asset manager’s stock valued at $42,575,000 after buying an additional 2,597 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Encore Capital Group by 16.0% in the third quarter. Wellington Management Group LLP now owns 756,335 shares of the asset manager’s stock valued at $35,752,000 after purchasing an additional 104,509 shares during the period.

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.