Encore Capital Group Inc. (NASDAQ:ECPG) fell 7.4% during mid-day trading on Tuesday . The stock traded as low as $21.66 and last traded at $21.70, with a volume of 131,120 shares traded. The stock had previously closed at $23.44.

A number of research analysts have issued reports on ECPG shares. Zacks Investment Research upgraded Encore Capital Group from a “sell” rating to a “hold” rating in a research note on Friday, June 3rd. William Blair restated an “outperform” rating on shares of Encore Capital Group in a research note on Friday, May 6th. JMP Securities restated a “buy” rating on shares of Encore Capital Group in a research note on Wednesday, June 8th. Finally, Northland Securities started coverage on Encore Capital Group in a research note on Tuesday, March 22nd. They issued an “outperform” rating and a $37.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Encore Capital Group has a consensus rating of “Buy” and an average price target of $42.33.

The company’s 50-day moving average price is $24.68 and its 200 day moving average price is $24.70. The stock has a market cap of $584.87 million and a PE ratio of 14.57.

Encore Capital Group (NASDAQ:ECPG) last announced its quarterly earnings data on Tuesday, May 10th. The company reported $1.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.04. During the same quarter in the previous year, the firm posted $1.23 EPS. The company had revenue of $289 million for the quarter, compared to analysts’ expectations of $303.78 million. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. Equities analysts forecast that Encore Capital Group Inc. will post $5.21 earnings per share for the current fiscal year.

A number of hedge funds and institutional investors recently made changes to their positions in the stock. Rhumbline Advisers boosted its position in shares of Encore Capital Group by 3.3% in the fourth quarter. Rhumbline Advisers now owns 39,690 shares of the company’s stock worth $1,154,000 after buying an additional 1,275 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Encore Capital Group by 10.8% in the fourth quarter. Bank of Montreal Can now owns 40,739 shares of the company’s stock worth $1,185,000 after buying an additional 3,976 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of Encore Capital Group by 4.0% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 43,704 shares of the company’s stock worth $1,271,000 after buying an additional 1,686 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of Encore Capital Group by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 48,235 shares of the company’s stock worth $1,403,000 after buying an additional 800 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Encore Capital Group by 22.0% in the fourth quarter. First Trust Advisors LP now owns 54,133 shares of the company’s stock worth $1,574,000 after buying an additional 9,750 shares during the last quarter.

Encore Capital Group, Inc is a specialty finance company providing debt recovery solutions for consumers and property owners across a range of financial assets. The Company conducts business through two segments: portfolio purchasing and recovery, and tax lien business. The Company’s portfolio purchasing and recovery segment purchases portfolios of defaulted consumer receivables at discounts and manages them by partnering with individuals as they repay their obligations and work toward financial recovery.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.