Encore Capital Group Inc (ECPG) Upgraded to Hold by Zacks Investment Research
Zacks Investment Research upgraded shares of Encore Capital Group Inc (NASDAQ:ECPG) from a sell rating to a hold rating in a research note published on Monday.
According to Zacks, “Encore Capital Group is a leading provider of debt management and recovery solutions for consumers and property owners across a broad range of assets. Through its subsidiaries, the company purchases portfolios of consumer receivables from major banks, credit unions, and utility providers, and partners with individuals as they repay their obligations and work toward financial recovery. Through its Propel Financial Services subsidiary, the company assists property owners who are delinquent on their property taxes by structuring affordable monthly payment plans. Encore’s success and future growth are driven by its sophisticated and widespread use of analytics, its broad investments in data and behavioral science, the significant cost advantages provided by its highly-efficient operating model and proven investment strategy, and the company’s demonstrated commitment to conducting business ethically and in ways that support its consumers’ financial recovery. “
ECPG has been the topic of several other research reports. ValuEngine upgraded shares of Encore Capital Group from a buy rating to a strong-buy rating in a research note on Friday, September 1st. SunTrust Banks, Inc. restated a buy rating and issued a $57.00 price target on shares of Encore Capital Group in a research note on Friday. Northland Securities restated a hold rating and issued a $49.00 price target on shares of Encore Capital Group in a research note on Friday. Keefe, Bruyette & Woods restated a buy rating and issued a $49.50 price target on shares of Encore Capital Group in a research note on Thursday, August 10th. Finally, BidaskClub lowered shares of Encore Capital Group from a strong-buy rating to a buy rating in a research note on Monday, July 24th. Six investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Encore Capital Group currently has a consensus rating of Hold and an average target price of $43.50.
Shares of Encore Capital Group (NASDAQ ECPG) traded down $0.90 during midday trading on Monday, reaching $48.00. 330,553 shares of the company were exchanged, compared to its average volume of 295,626. Encore Capital Group has a 1-year low of $17.66 and a 1-year high of $52.00. The company has a market cap of $1,240.00, a price-to-earnings ratio of 13.27 and a beta of 1.84. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 5.60.
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Institutional investors have recently bought and sold shares of the company. State of Alaska Department of Revenue boosted its holdings in shares of Encore Capital Group by 79.7% in the second quarter. State of Alaska Department of Revenue now owns 4,672 shares of the asset manager’s stock valued at $187,000 after acquiring an additional 2,072 shares in the last quarter. Nisa Investment Advisors LLC bought a new position in shares of Encore Capital Group in the second quarter valued at approximately $201,000. Piedmont Investment Advisors LLC bought a new position in shares of Encore Capital Group in the second quarter valued at approximately $206,000. Sigma Planning Corp bought a new position in shares of Encore Capital Group in the third quarter valued at approximately $249,000. Finally, UBS Asset Management Americas Inc. bought a new position in shares of Encore Capital Group in the first quarter valued at approximately $212,000.
About Encore Capital Group
Encore Capital Group, Inc, through its subsidiaries, is a specialty finance company providing debt recovery solutions for consumers and property owners across a range of financial assets. The Company operates through Portfolio Purchasing and Recovery segment. The Company’s geographical segments include the United States, Europe and other.
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