Encore Capital Group (NASDAQ:ECPG) Given New $57.00 Price Target at Truist Financial

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

Several other equities analysts have also recently issued reports 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 upped their price objective on shares of Encore Capital Group from $60.00 to $65.00 and gave the stock a “market outperform” rating in a report on Thursday, November 7th. Finally, Northland Securities raised 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 research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $62.67.

Encore Capital Group Price Performance

Shares of Encore Capital Group stock opened at $39.95 on Thursday. The company’s fifty day simple moving average is $48.71 and its two-hundred day simple moving average is $48.10. Encore Capital Group has a 12-month low of $39.64 and a 12-month high of $51.77. The firm has a market cap of $946.53 million, a PE ratio of -5.19 and a beta of 1.55. 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 (NASDAQ:ECPG) last posted its earnings results on Wednesday, February 26th. The asset manager reported $1.50 earnings per share (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%. As a group, equities analysts expect that Encore Capital Group will post 5.09 EPS for the current year.

Institutional Investors Weigh In On Encore Capital Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ECPG. Jane Street Group LLC lifted its position in Encore Capital Group by 191.7% during the third quarter. Jane Street Group LLC now owns 49,719 shares of the asset manager’s stock valued at $2,350,000 after buying an additional 32,672 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Encore Capital Group during the third quarter worth about $695,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in 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 purchasing an additional 14,409 shares during the period. Wellington Management Group LLP increased its stake in shares of Encore Capital Group by 16.0% during 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. Finally, Intech Investment Management LLC bought a new position in shares of Encore Capital Group during the third quarter valued at approximately $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.