Northland Securities Reaffirms Buy Rating for Encore Capital Group (NASDAQ:ECPG)

Encore Capital Group (NASDAQ:ECPG)‘s stock had its “buy” rating reiterated by equities researchers at Northland Securities in a research report issued to clients and investors on Thursday, AnalystRatings.com reports. They currently have a $40.00 price target on the asset manager’s stock. Northland Securities’ target price would indicate a potential upside of 2.15% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Encore Capital Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Oppenheimer set a $37.00 price objective on shares of Encore Capital Group and gave the stock a “buy” rating in a research report on Wednesday, April 17th. ValuEngine upgraded shares of Encore Capital Group from a “sell” rating to a “hold” rating in a research report on Wednesday, July 31st. Finally, BidaskClub upgraded shares of Encore Capital Group from a “sell” rating to a “hold” rating in a report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $39.80.

Shares of Encore Capital Group stock traded up $1.55 on Thursday, hitting $39.16. 471,126 shares of the company traded hands, compared to its average volume of 212,503. The company has a 50 day moving average of $34.65. The company has a debt-to-equity ratio of 4.11, a quick ratio of 0.85 and a current ratio of 0.85. Encore Capital Group has a 52 week low of $20.38 and a 52 week high of $41.50. The stock has a market cap of $1.05 billion, a P/E ratio of 6.33, a PEG ratio of 0.48 and a beta of 1.49.

Encore Capital Group (NASDAQ:ECPG) last issued its quarterly earnings data on Wednesday, August 7th. The asset manager reported $1.28 EPS for the quarter, hitting analysts’ consensus estimates of $1.28. The company had revenue of $346.87 million during the quarter, compared to the consensus estimate of $353.89 million. Encore Capital Group had a net margin of 11.14% and a return on equity of 20.32%. Encore Capital Group’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.33 earnings per share. On average, analysts forecast that Encore Capital Group will post 5.55 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the business. Pearl River Capital LLC purchased a new stake in shares of Encore Capital Group in the first quarter valued at about $40,000. Quantamental Technologies LLC bought a new position in Encore Capital Group in the 1st quarter valued at about $121,000. Everence Capital Management Inc. bought a new position in Encore Capital Group in the 2nd quarter valued at about $223,000. Metropolitan Life Insurance Co. NY grew its position in Encore Capital Group by 329.0% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 8,108 shares of the asset manager’s stock valued at $191,000 after buying an additional 6,218 shares in the last quarter. Finally, Sigma Planning Corp bought a new position in shares of Encore Capital Group during the 1st quarter valued at about $222,000.

Encore Capital Group Company Profile

Encore Capital Group, Inc, a specialty finance company, together with its subsidiaries, provides debt recovery solutions and other related services for consumers across a range of 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.

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Analyst Recommendations for Encore Capital Group (NASDAQ:ECPG)

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