Truist Financial Lowers Encore Capital Group (NASDAQ:ECPG) Price Target to $57.00

Encore Capital Group (NASDAQ:ECPG) had its price target dropped by equities researchers at Truist Financial from $64.00 to $57.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the asset manager’s stock. Truist Financial’s price objective indicates a potential upside of 42.67% from the stock’s current price.

A number of other brokerages also recently weighed in on ECPG. JMP Securities raised their target price on shares of Encore Capital Group from $60.00 to $65.00 and gave the company a “market outperform” rating in a research note on Thursday, November 7th. StockNews.com raised shares of Encore Capital Group from a “hold” rating to a “buy” rating in a report on Friday, November 29th. Finally, Northland Securities upped their target price on shares of Encore Capital Group from $58.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday, December 23rd. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $62.67.

Encore Capital Group Stock Down 19.9 %

ECPG opened at $39.95 on Thursday. The firm has a market capitalization of $946.53 million, a P/E ratio of -5.19 and a beta of 1.55. Encore Capital Group has a one year low of $39.64 and a one year high of $51.77. The company has a fifty day moving average price of $48.71 and a 200-day moving average price of $48.10. 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 (NASDAQ:ECPG) last posted its earnings results 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%. Equities research analysts expect that Encore Capital Group will post 5.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Encore Capital Group

A number of hedge funds have recently made changes to their positions in the business. Jane Street Group LLC raised its position in Encore Capital Group by 191.7% in the 3rd quarter. Jane Street Group LLC now owns 49,719 shares of the asset manager’s stock worth $2,350,000 after purchasing an additional 32,672 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Encore Capital Group during the third quarter valued at about $695,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Encore Capital Group by 177.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 22,550 shares of the asset manager’s stock worth $1,066,000 after buying an additional 14,409 shares during the period. Wellington Management Group LLP lifted its stake 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 acquiring an additional 104,509 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new stake in Encore Capital Group during the 3rd quarter valued at about $409,000.

Encore Capital Group Company Profile

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.