Encore Capital Group (NASDAQ:ECPG) Upgraded to Strong-Buy at Northland Capmk

Northland Capmk upgraded shares of Encore Capital Group (NASDAQ:ECPG) from a hold rating to a strong-buy rating in a report released on Thursday, Zacks.com reports.

ECPG has been the subject of several other research reports. Northland Securities raised shares of Encore Capital Group from a “market perform” rating to an “outperform” rating and raised their price target for the company from $55.00 to $58.00 in a research report on Thursday. Truist Financial decreased their price target on shares of Encore Capital Group from $70.00 to $64.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. Finally, JMP Securities reissued a “market outperform” rating and issued a $60.00 price target on shares of Encore Capital Group in a research report on Monday. Three analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $60.67.

Encore Capital Group Stock Performance

NASDAQ:ECPG opened at $47.52 on Thursday. The company has a debt-to-equity ratio of 3.50, a quick ratio of 1.27 and a current ratio of 1.27. Encore Capital Group has a fifty-two week low of $34.74 and a fifty-two week high of $54.55. The stock has a market capitalization of $1.13 billion, a P/E ratio of -5.54 and a beta of 1.55. The company has a 50 day moving average price of $47.47 and a 200 day moving average price of $45.27.

Encore Capital Group (NASDAQ:ECPG) last issued its quarterly earnings results on Wednesday, August 7th. The asset manager reported $1.34 EPS for the quarter, beating the consensus estimate of $1.24 by $0.10. Encore Capital Group had a negative net margin of 15.43% and a positive return on equity of 11.12%. The company had revenue of $355.29 million during the quarter, compared to analysts’ expectations of $346.06 million. During the same quarter last year, the company posted $1.08 EPS. The firm’s revenue was up 10.0% compared to the same quarter last year. Equities research analysts forecast that Encore Capital Group will post 5.56 EPS for the current year.

Institutional Investors Weigh In On Encore Capital Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Clearbridge Investments LLC raised its stake in Encore Capital Group by 17.8% during the 1st quarter. Clearbridge Investments LLC now owns 394,786 shares of the asset manager’s stock worth $18,006,000 after acquiring an additional 59,624 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Encore Capital Group by 0.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 182,117 shares of the asset manager’s stock worth $7,600,000 after acquiring an additional 1,650 shares in the last quarter. Marshall Wace LLP raised its stake in Encore Capital Group by 221.1% during the 2nd quarter. Marshall Wace LLP now owns 130,127 shares of the asset manager’s stock worth $5,430,000 after acquiring an additional 89,596 shares in the last quarter. Millennium Management LLC raised its stake in Encore Capital Group by 60.0% during the 2nd quarter. Millennium Management LLC now owns 80,170 shares of the asset manager’s stock worth $3,345,000 after acquiring an additional 30,052 shares in the last quarter. Finally, Sei Investments Co. raised its stake in Encore Capital Group by 14.0% during the 2nd quarter. Sei Investments Co. now owns 73,105 shares of the asset manager’s stock worth $3,051,000 after acquiring an additional 8,991 shares in 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.