Encore Capital Group (NASDAQ:ECPG) Given New $65.00 Price Target at JMP Securities

Encore Capital Group (NASDAQ:ECPG) had its price target upped by research analysts at JMP Securities from $60.00 to $65.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “market outperform” rating on the asset manager’s stock. JMP Securities’ price objective would indicate a potential upside of 31.10% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. 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. Northland Securities raised Encore Capital Group from a “market perform” rating to an “outperform” rating and upped their target price for the company from $55.00 to $58.00 in a report on Thursday, October 17th. Finally, Truist Financial dropped their target price on Encore Capital Group from $70.00 to $64.00 and set a “buy” rating on the stock in a research report on Tuesday, August 20th. Three analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $62.33.

Encore Capital Group Trading Down 0.4 %

NASDAQ:ECPG traded down $0.19 on Thursday, reaching $49.58. The stock had a trading volume of 129,472 shares, compared to its average volume of 148,503. The company has a market cap of $1.17 billion, a price-to-earnings ratio of -5.95 and a beta of 1.56. The company has a debt-to-equity ratio of 3.50, a current ratio of 1.27 and a quick ratio of 1.27. Encore Capital Group has a 12-month low of $39.64 and a 12-month high of $54.55. The firm’s fifty day moving average is $46.67 and its two-hundred day moving average is $45.60.

Encore Capital Group (NASDAQ:ECPG) last issued its earnings results on Wednesday, November 6th. The asset manager reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.21). Encore Capital Group had a positive return on equity of 11.12% and a negative net margin of 15.43%. The company had revenue of $367.07 million during the quarter, compared to analysts’ expectations of $360.70 million. During the same period in the previous year, the company earned $0.79 EPS. Encore Capital Group’s quarterly revenue was up 18.6% on a year-over-year basis. Equities analysts expect that Encore Capital Group will post 5.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Encore Capital Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Huntington National Bank grew its stake in Encore Capital Group by 8,700.0% during the 3rd quarter. Huntington National Bank now owns 528 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 522 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in Encore Capital Group in the 2nd quarter worth approximately $33,000. nVerses Capital LLC lifted its stake in shares of Encore Capital Group by 450.0% in the second quarter. nVerses Capital LLC now owns 1,100 shares of the asset manager’s stock worth $46,000 after buying an additional 900 shares during the last quarter. Innealta Capital LLC acquired a new position in Encore Capital Group during the 2nd quarter worth $60,000. Finally, KBC Group NV grew its position in shares of Encore Capital Group by 54.9% in the third quarter. KBC Group NV now owns 1,365 shares of the asset manager’s stock valued at $65,000 after purchasing an additional 484 shares during 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.