Encore Capital Group (NASDAQ:ECPG) Stock Gets Price Target Increase from Citizens Jmp

Encore Capital Group (NASDAQ:ECPG) had its price target lifted by Citizens Jmp from $115.00 to $140.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “market outperform” rating on the asset manager’s stock. Citizens Jmp‘s price objective would suggest a potential upside of 39.70% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Citigroup restated a “market outperform” rating on shares of Encore Capital Group in a report on Thursday. Truist Financial boosted their target price on shares of Encore Capital Group from $105.00 to $112.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Weiss Ratings raised Encore Capital Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Zacks Research cut Encore Capital Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Finally, Northland Securities set a $124.00 price target on Encore Capital Group in a report on Tuesday, October 13th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $109.50.

Encore Capital Group Stock Performance

NASDAQ ECPG opened at $100.22 on Thursday. The company has a market cap of $2.13 billion, a PE ratio of 7.59 and a beta of 1.29. The stock’s 50 day simple moving average is $99.09 and its 200-day simple moving average is $83.57. Encore Capital Group has a 1-year low of $41.10 and a 1-year high of $105.98. The company has a debt-to-equity ratio of 3.87, a current ratio of 0.96 and a quick ratio of 0.96.

Encore Capital Group (NASDAQ:ECPG) last posted its quarterly earnings results on Wednesday, November 4th. The asset manager reported $5.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.35 by $2.22. The business had revenue of $544.54 million during the quarter, compared to analyst estimates of $466.80 million. Encore Capital Group had a return on equity of 29.83% and a net margin of 15.86%. The business’s revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the business earned $3.17 earnings per share. As a group, equities research analysts anticipate that Encore Capital Group will post 13.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Encore Capital Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. Ashton Thomas Private Wealth LLC grew its stake in Encore Capital Group by 4.1% during the third quarter. Ashton Thomas Private Wealth LLC now owns 2,825 shares of the asset manager’s stock worth $267,000 after buying an additional 110 shares during the period. Farther Finance Advisors LLC boosted its stake in Encore Capital Group by 40.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 386 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 111 shares during the last quarter. Allworth Financial LP increased its holdings in Encore Capital Group by 12.1% in the second quarter. Allworth Financial LP now owns 1,461 shares of the asset manager’s stock valued at $136,000 after buying an additional 158 shares during the last quarter. Signaturefd LLC raised its position in shares of Encore Capital Group by 185.9% during the 3rd quarter. Signaturefd LLC now owns 366 shares of the asset manager’s stock valued at $35,000 after acquiring an additional 238 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Encore Capital Group by 26.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,339 shares of the asset manager’s stock valued at $126,000 after buying an additional 283 shares during the last quarter.

About Encore Capital Group

Encore Capital Group, Inc is a specialty finance company that purchases portfolios of charged-off consumer receivables and provides debt recovery and management services. Through its operating businesses, the company works with consumers to resolve outstanding obligations through payment plans and other repayment arrangements.

Encore serves consumers and creditors across multiple markets, including the United States, the United Kingdom and other European countries. Its major operating platforms include Midland Credit Management in the United States and Cabot Credit Management in Europe.