Encore Capital Group (NASDAQ:ECPG) Downgraded by StockNews.com to "Hold"

StockNews.com downgraded shares of Encore Capital Group (NASDAQ:ECPG - Free Report) from a buy rating to a hold rating in a report released on Friday morning.

Other analysts have also recently issued research reports about the stock. Northland Securities increased their price target on shares of Encore Capital Group from $58.00 to $66.00 and gave the stock an "outperform" rating in a research note on Monday, December 23rd. JMP Securities boosted their price target on Encore Capital Group from $60.00 to $65.00 and gave the company a "market outperform" rating in a research report on Thursday, November 7th. Finally, Truist Financial decreased their price objective on Encore Capital Group from $64.00 to $57.00 and set a "buy" rating for the company in a research report on Thursday. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Encore Capital Group has an average rating of "Buy" and a consensus price target of $62.67.

Encore Capital Group Stock Performance

ECPG traded down $2.27 on Friday, reaching $35.45. The company had a trading volume of 958,692 shares, compared to its average volume of 243,715. 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 has a 1 year low of $34.87 and a 1 year high of $51.77. The stock has a market capitalization of $839.85 million, a PE ratio of -4.52 and a beta of 1.55. The stock has a 50-day moving average price of $48.13 and a 200-day moving average price of $47.88.

Encore Capital Group (NASDAQ:ECPG - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The asset manager reported $1.50 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%. The firm had revenue of $265.62 million for the quarter, compared to analyst estimates of $373.40 million. As a group, research analysts forecast that Encore Capital Group will post 5.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Huntington National Bank lifted its position in Encore Capital Group by 8,700.0% in the third quarter. Huntington National Bank now owns 528 shares of the asset manager's stock valued at $25,000 after purchasing an additional 522 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in shares of Encore Capital Group by 120.8% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 530 shares of the asset manager's stock worth $25,000 after buying an additional 290 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Encore Capital Group in the 4th quarter valued at approximately $28,000. Sterling Capital Management LLC boosted its stake in shares of Encore Capital Group by 827.2% in the fourth quarter. Sterling Capital Management LLC now owns 751 shares of the asset manager's stock valued at $36,000 after buying an additional 670 shares in the last quarter. Finally, KBC Group NV grew its holdings in Encore Capital Group by 54.9% during the third quarter. KBC Group NV now owns 1,365 shares of the asset manager's stock worth $65,000 after acquiring an additional 484 shares during the period.

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.