Encore Capital Group (NASDAQ:ECPG) Stock Price Expected to Rise, Northland Securities Analyst Says

Encore Capital Group (NASDAQ:ECPG) had its target price lifted by analysts at Northland Securities from $58.00 to $66.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the asset manager’s stock. Northland Securities’ price target indicates a potential upside of 40.94% from the company’s previous close.

Several other research firms also recently weighed in on ECPG. Northland Capmk raised shares of Encore Capital Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. StockNews.com raised Encore Capital Group from a “hold” rating to a “buy” rating in a report on Friday, November 29th. Finally, JMP Securities increased their target price on Encore Capital Group from $60.00 to $65.00 and gave the stock a “market outperform” rating in a report on Thursday, November 7th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $65.00.

Encore Capital Group Trading Down 1.2 %

Shares of ECPG opened at $46.83 on Monday. Encore Capital Group has a one year low of $39.64 and a one year high of $54.55. The stock has a 50-day moving average price of $47.93 and a 200 day moving average price of $46.71. The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $1.11 billion, a P/E ratio of -5.97 and a beta of 1.55.

Encore Capital Group (NASDAQ:ECPG) last released its quarterly earnings results on Wednesday, November 6th. The asset manager reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.22). The company had revenue of $367.07 million for the quarter, compared to analyst estimates of $360.70 million. Encore Capital Group had a positive return on equity of 12.70% and a negative net margin of 13.91%. The firm’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.79 EPS. Sell-side analysts forecast that Encore Capital Group will post 5.09 EPS for the current fiscal year.

Insider Activity

In related news, Director Laura Olle sold 1,340 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $49.16, for a total value of $65,874.40. Following the completion of the transaction, the director now owns 32,381 shares of the company’s stock, valued at approximately $1,591,849.96. This trade represents a 3.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.63% of the company’s stock.

Institutional Trading of Encore Capital Group

Hedge funds have recently modified their holdings of the business. Stephens Investment Management Group LLC grew its holdings 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 in the last quarter. State Street Corp grew its stake in Encore Capital Group by 0.3% during the 3rd quarter. State Street Corp now owns 900,677 shares of the asset manager’s stock valued at $42,575,000 after acquiring an additional 2,597 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Encore Capital Group by 16.0% in the 3rd 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. Geode Capital Management LLC lifted its position in shares of Encore Capital Group by 2.5% in the third quarter. Geode Capital Management LLC now owns 570,047 shares of the asset manager’s stock worth $26,952,000 after purchasing an additional 13,648 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Encore Capital Group by 4.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 481,497 shares of the asset manager’s stock worth $22,760,000 after purchasing an additional 18,467 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.