Encore Capital Group (NASDAQ:ECPG) Cut to “Hold” at Zacks Investment Research

Encore Capital Group (NASDAQ:ECPGGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday, Zacks.com reports.

ECPG has been the topic of several other research reports. 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 research report on Tuesday, February 15th. StockNews.com raised Encore Capital Group from a “hold” rating to a “buy” rating in a research report on Friday, May 6th. Finally, Truist Financial lifted their target price on Encore Capital Group from $70.00 to $87.00 in a research report on Thursday, February 24th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $77.25.

Shares of NASDAQ ECPG traded up $0.20 during midday trading on Monday, hitting $60.56. 188,576 shares of the stock traded hands, compared to its average volume of 374,796. The company has a market cap of $1.47 billion, a PE ratio of 4.13 and a beta of 1.28. Encore Capital Group has a one year low of $43.24 and a one year high of $72.67. The business has a 50 day moving average price of $59.78 and a two-hundred day moving average price of $62.10. The company has a debt-to-equity ratio of 2.35, a quick ratio of 0.70 and a current ratio of 0.70.

Encore Capital Group (NASDAQ:ECPGGet Rating) last released its quarterly earnings data on Wednesday, May 4th. The asset manager reported $6.40 EPS for the quarter, beating the consensus estimate of $2.00 by $4.40. The firm had revenue of $499.60 million during the quarter, compared to the consensus estimate of $347.08 million. Encore Capital Group had a return on equity of 33.89% and a net margin of 25.45%. The company’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.97 earnings per share. As a group, equities research analysts forecast that Encore Capital Group will post 12.88 EPS for the current fiscal year.

In other Encore Capital Group news, insider Ryan B. Bell sold 6,662 shares of the business’s stock in a transaction on Friday, March 11th. The stock was sold at an average price of $63.60, for a total value of $423,703.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.01% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd lifted its position in shares of Encore Capital Group by 134.5% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 22,935 shares of the asset manager’s stock valued at $1,439,000 after buying an additional 13,155 shares during the last quarter. PDT Partners LLC lifted its position in shares of Encore Capital Group by 125.1% during the 1st quarter. PDT Partners LLC now owns 16,585 shares of the asset manager’s stock valued at $1,040,000 after buying an additional 9,216 shares during the last quarter. Captrust Financial Advisors lifted its position in shares of Encore Capital Group by 4.1% during the 1st quarter. Captrust Financial Advisors now owns 28,842 shares of the asset manager’s stock valued at $1,809,000 after buying an additional 1,130 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of Encore Capital Group during the 1st quarter valued at $603,000. Finally, Vident Investment Advisory LLC purchased a new position in shares of Encore Capital Group during the 1st quarter valued at $2,007,000.

Encore Capital Group Company Profile (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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