Encore Capital Group (NASDAQ:ECPG) Given New $66.00 Price Target at Northland Securities

Encore Capital Group (NASDAQ:ECPG) had its price objective hoisted by Northland Securities from $58.00 to $66.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the asset manager’s stock.

A number of other analysts also recently issued reports on the company. Northland Capmk raised Encore Capital Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. StockNews.com raised shares of Encore Capital Group from a “hold” rating to a “buy” rating in a report on Friday, November 29th. Finally, JMP Securities lifted 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 note on Thursday, November 7th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $65.00.

Encore Capital Group Stock Performance

ECPG opened at $46.76 on Monday. Encore Capital Group has a twelve month low of $39.64 and a twelve month high of $54.55. The firm has a market capitalization of $1.11 billion, a PE ratio of -5.96 and a beta of 1.55. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 3.39. The firm’s 50-day moving average price is $47.93 and its 200 day moving average price is $46.71.

Encore Capital Group (NASDAQ:ECPG) last issued its earnings results on Wednesday, November 6th. The asset manager reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.48 by ($0.22). Encore Capital Group had a positive return on equity of 12.70% and a negative net margin of 13.91%. The company had revenue of $367.07 million for the quarter, compared to analyst estimates of $360.70 million. During the same quarter in the prior year, the firm earned $0.79 earnings per share. The company’s revenue for the quarter was up 18.6% on a year-over-year basis. As a group, sell-side analysts expect that Encore Capital Group will post 5.09 EPS for the current fiscal year.

Insider Activity

In other news, Director Laura Olle sold 1,340 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $49.16, for a total value of $65,874.40. Following the sale, the director now directly owns 32,381 shares of the company’s stock, valued at approximately $1,591,849.96. The trade was a 3.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.63% of the company’s stock.

Hedge Funds Weigh In On Encore Capital Group

A number of hedge funds have recently made changes to their positions in the stock. Huntington National Bank lifted its stake 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 worth $25,000 after purchasing an additional 522 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in Encore Capital Group during the 2nd quarter worth about $33,000. nVerses Capital LLC boosted its holdings in Encore Capital Group by 450.0% during the 2nd quarter. nVerses Capital LLC now owns 1,100 shares of the asset manager’s stock valued at $46,000 after acquiring an additional 900 shares during the period. KBC Group NV grew its position in Encore Capital Group by 54.9% in the 3rd quarter. KBC Group NV now owns 1,365 shares of the asset manager’s stock valued at $65,000 after acquiring an additional 484 shares in the last quarter. Finally, Innealta Capital LLC acquired a new position in Encore Capital Group in the 2nd quarter valued at about $60,000.

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.