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

Encore Capital Group (NASDAQ:ECPG) had its price objective cut by Truist Financial from $64.00 to $57.00 in a report issued on Thursday morning,Benzinga reports. They currently have a buy rating on the asset manager’s stock.

A number of other research analysts have also issued reports on the stock. StockNews.com upgraded shares of Encore Capital Group from a “hold” rating to a “buy” rating in a research note on Friday, November 29th. JMP Securities upped their target price on shares of Encore Capital Group from $60.00 to $65.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 7th. Finally, Northland Securities upped their target price on shares of Encore Capital Group from $58.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday, December 23rd. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $62.67.

Encore Capital Group Trading Down 3.2 %

Shares of Encore Capital Group stock opened at $37.72 on Thursday. Encore Capital Group has a 52-week low of $35.38 and a 52-week high of $51.77. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 3.39. The company’s 50-day simple moving average is $48.36 and its 200-day simple moving average is $47.97. The firm has a market cap of $893.62 million, a price-to-earnings ratio of -4.81 and a beta of 1.55.

Encore Capital Group (NASDAQ:ECPG) last issued its quarterly earnings results on Wednesday, February 26th. The asset manager reported $1.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, equities research analysts anticipate that Encore Capital Group will post 5.09 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp acquired a new stake in shares of Encore Capital Group in the fourth quarter valued at approximately $322,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Encore Capital Group by 31.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 72,793 shares of the asset manager’s stock valued at $3,477,000 after purchasing an additional 17,470 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in shares of Encore Capital Group in the fourth quarter valued at approximately $1,713,000. Squarepoint Ops LLC grew its position in shares of Encore Capital Group by 64.5% in the fourth quarter. Squarepoint Ops LLC now owns 42,095 shares of the asset manager’s stock valued at $2,011,000 after purchasing an additional 16,507 shares during the last quarter. Finally, Two Sigma Advisers LP grew its position in shares of Encore Capital Group by 75.4% in the fourth quarter. Two Sigma Advisers LP now owns 87,000 shares of the asset manager’s stock valued at $4,156,000 after purchasing an additional 37,400 shares during the last quarter.

About Encore Capital Group

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.