Encore Capital Group (NASDAQ:ECPG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Encore Capital Group (NASDAQ:ECPG) from a buy rating to a strong-buy rating in a report issued on Saturday.

ECPG has been the topic of several other research reports. Citigroup reaffirmed an “outperform” rating on shares of Encore Capital Group in a report on Tuesday, January 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Encore Capital Group in a research note on Wednesday, January 21st. Citizens Jmp upped their target price on shares of Encore Capital Group from $75.00 to $90.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 26th. Janney Montgomery Scott boosted their price objective on shares of Encore Capital Group from $56.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Finally, Northland Securities set a $70.00 price target on Encore Capital Group in a research report on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Encore Capital Group presently has an average rating of “Moderate Buy” and an average target price of $75.50.

Encore Capital Group Trading Up 3.9%

NASDAQ:ECPG opened at $70.92 on Friday. The stock has a fifty day simple moving average of $56.93 and a 200 day simple moving average of $49.80. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 6.47 and a beta of 1.35. Encore Capital Group has a 1-year low of $26.45 and a 1-year high of $72.30. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 4.10.

Encore Capital Group (NASDAQ:ECPG) last released its earnings results on Wednesday, February 25th. The asset manager reported $3.37 earnings per share for the quarter, topping the consensus estimate of $2.20 by $1.17. Encore Capital Group had a net margin of 14.52% and a return on equity of 28.19%. The business had revenue of $473.55 million for the quarter, compared to the consensus estimate of $423.14 million. During the same period last year, the firm posted ($9.42) earnings per share. The firm’s quarterly revenue was up 78.3% compared to the same quarter last year. Sell-side analysts forecast 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 1,423 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $52.79, for a total value of $75,120.17. Following the completion of the sale, the director directly owned 35,024 shares in the company, valued at $1,848,916.96. This trade represents a 3.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Ryan B. Bell sold 2,500 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $55.00, for a total transaction of $137,500.00. Following the sale, the insider owned 55,410 shares of the company’s stock, valued at $3,047,550. This trade represents a 4.32% decrease in their position. The SEC filing for this sale provides additional information. 2.63% of the stock is owned by company insiders.

Hedge Funds Weigh In On Encore Capital Group

Hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC purchased a new position in shares of Encore Capital Group during the 2nd quarter valued at $27,000. IFP Advisors Inc increased its holdings in shares of Encore Capital Group by 1,729.6% in the 4th quarter. IFP Advisors Inc now owns 494 shares of the asset manager’s stock worth $27,000 after buying an additional 467 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Encore Capital Group by 185.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 717 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 466 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Encore Capital Group by 29.1% during the 4th quarter. Allworth Financial LP now owns 1,139 shares of the asset manager’s stock valued at $62,000 after buying an additional 257 shares in the last quarter. Finally, LSV Asset Management bought a new stake in shares of Encore Capital Group in the 3rd quarter worth approximately $88,000.

About Encore Capital Group

Encore Capital Group, Inc is a global specialty finance company that focuses on the purchase and management of nonperforming consumer receivables. Through its subsidiaries, the company acquires charged-off debt portfolios from credit card issuers, banks, and other financial institutions, and seeks to recover outstanding balances through a combination of customer outreach, payment arrangements, and, where appropriate, legal collection efforts. Encore’s business model emphasizes compliance with regulatory and industry standards to ensure ethical and transparent debt-recovery practices.

Headquartered in San Diego, California, Encore operates across North America and Europe.