Encore Capital Group (NASDAQ:ECPG) Price Target Raised to $66.00 at Northland Securities

Encore Capital Group (NASDAQ:ECPG) had its price objective hoisted by Northland Securities from $58.00 to $66.00 in a research report report published on Monday,Benzinga reports. They currently have an outperform rating on the asset manager’s stock.

A number of other research analysts also recently commented on the company. StockNews.com raised Encore Capital Group from a “hold” rating to a “buy” rating in a research note on Friday, November 29th. JMP Securities increased their price target on shares of Encore Capital Group from $60.00 to $65.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 7th. Finally, Northland Capmk upgraded shares of Encore Capital Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Encore Capital Group has a consensus rating of “Buy” and a consensus price target of $65.00.

Encore Capital Group Trading Up 1.6 %

Shares of ECPG stock opened at $47.52 on Monday. The company has a market capitalization of $1.13 billion, a PE ratio of -6.05 and a beta of 1.55. The firm has a 50 day moving average price of $48.04 and a two-hundred day moving average price of $46.78. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 3.39. Encore Capital Group has a 12-month low of $39.64 and a 12-month high of $54.55.

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

Insider Transactions at Encore Capital Group

In other news, Director Laura Olle sold 1,340 shares of Encore Capital Group stock in a transaction dated Wednesday, November 27th. The stock was 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 directly 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 legal filing with the SEC, which is accessible through this link. 2.63% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Encore Capital Group

Several large investors have recently added to or reduced their stakes in the business. Stephens Investment Management Group LLC grew its position in shares of Encore Capital Group by 0.5% during the 3rd quarter. Stephens Investment Management Group LLC now owns 1,137,752 shares of the asset manager’s stock worth $53,782,000 after buying an additional 5,373 shares during the period. State Street Corp grew its holdings in Encore Capital Group by 0.3% in the third quarter. State Street Corp now owns 900,677 shares of the asset manager’s stock worth $42,575,000 after purchasing an additional 2,597 shares during the period. Wellington Management Group LLP increased its stake in Encore Capital Group by 16.0% in the third 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 in the last quarter. Geode Capital Management LLC raised its holdings in shares of Encore Capital Group by 2.5% during the third quarter. Geode Capital Management LLC now owns 570,047 shares of the asset manager’s stock valued at $26,952,000 after purchasing an additional 13,648 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Encore Capital Group by 4.0% during the 3rd 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 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.