Truist Financial Lowers Encore Capital Group (NASDAQ:ECPG) Price Target to $57.00

Encore Capital Group (NASDAQ:ECPG - Free Report) had its target price lowered by Truist Financial from $64.00 to $57.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the asset manager's stock.

Several other brokerages have also recently weighed in on ECPG. Northland Securities lifted their price objective 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 lifted their price target on shares of 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, StockNews.com raised Encore Capital Group from a "hold" rating to a "buy" rating in a research report on Friday, November 29th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $62.67.

Encore Capital Group Stock Performance

Shares of Encore Capital Group stock traded down $2.27 on Thursday, hitting $35.45. The stock had a trading volume of 958,692 shares, compared to its average volume of 243,060. The stock has a market cap of $839.85 million, a price-to-earnings ratio of -4.52 and a beta of 1.55. 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 twelve month low of $34.87 and a twelve month high of $51.77. The business's 50 day moving average is $48.36 and its two-hundred day moving average is $47.97.

Encore Capital Group (NASDAQ:ECPG - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The asset manager reported $1.50 EPS for the quarter, missing analysts' consensus estimates of $1.55 by ($0.05). Encore Capital Group had a negative net margin of 13.91% and a positive return on equity of 12.70%. The firm had revenue of $265.62 million during the quarter, compared to analyst estimates of $373.40 million. Analysts forecast that Encore Capital Group will post 5.09 EPS for the current year.

Institutional Trading of Encore Capital Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Huntington National Bank raised its position in Encore Capital Group by 8,700.0% during 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 in the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of Encore Capital Group by 120.8% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 530 shares of the asset manager's stock valued at $25,000 after purchasing an additional 290 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Encore Capital Group during the 4th quarter worth $28,000. Sterling Capital Management LLC lifted its position in shares of Encore Capital Group by 827.2% during the 4th quarter. Sterling Capital Management LLC now owns 751 shares of the asset manager's stock worth $36,000 after buying an additional 670 shares during the last quarter. Finally, KBC Group NV lifted its position in shares of Encore Capital Group by 54.9% during the 3rd quarter. KBC Group NV now owns 1,365 shares of the asset manager's stock worth $65,000 after buying an additional 484 shares during the last quarter.

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.