Analysts at Oppenheimer initiated coverage on shares of Encore Capital Group (NASDAQ:ECPG) in a report issued on Monday. The brokerage set a “buy” rating and a $53.00 price target on the asset manager’s stock. Oppenheimer’s price objective would suggest a potential upside of 21.84% from the company’s current price.
Other research analysts also recently issued research reports about the stock. SunTrust Banks reiterated a “buy” rating and issued a $57.00 price objective on shares of Encore Capital Group in a research report on Friday, November 3rd. BidaskClub downgraded shares of Encore Capital Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 7th. Janney Montgomery Scott reiterated a “hold” rating on shares of Encore Capital Group in a research report on Saturday, November 18th. Zacks Investment Research upgraded shares of Encore Capital Group from a “sell” rating to a “hold” rating in a research report on Monday, November 6th. Finally, Northland Securities restated a “hold” rating and set a $49.00 price target on shares of Encore Capital Group in a research report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $48.10.
Shares of Encore Capital Group (NASDAQ ECPG) traded up $1.20 during trading on Monday, hitting $43.50. 432,300 shares of the company’s stock were exchanged, compared to its average volume of 223,967. The firm has a market capitalization of $1,090.00, a P/E ratio of 12.36 and a beta of 1.82. Encore Capital Group has a 1-year low of $27.95 and a 1-year high of $52.00. The company has a debt-to-equity ratio of 5.60, a quick ratio of 0.70 and a current ratio of 0.70.
In related news, insider Paul Grinberg sold 37,546 shares of the company’s stock in a transaction dated Wednesday, December 26th. The shares were sold at an average price of $42.43, for a total transaction of $1,593,076.78. Following the completion of the transaction, the insider now owns 250,171 shares in the company, valued at approximately $10,614,755.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 8.80% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp grew its stake in Encore Capital Group by 3.5% during the 2nd quarter. State Street Corp now owns 568,689 shares of the asset manager’s stock valued at $22,830,000 after acquiring an additional 19,252 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Encore Capital Group by 29.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 77,640 shares of the asset manager’s stock valued at $3,117,000 after acquiring an additional 17,543 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in Encore Capital Group by 17.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 118,742 shares of the asset manager’s stock valued at $4,768,000 after acquiring an additional 17,822 shares in the last quarter. Northern Trust Corp grew its stake in Encore Capital Group by 7.7% during the 2nd quarter. Northern Trust Corp now owns 632,955 shares of the asset manager’s stock valued at $25,414,000 after acquiring an additional 45,218 shares in the last quarter. Finally, EJF Capital LLC purchased a new stake in Encore Capital Group during the 3rd quarter valued at about $2,437,000.
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Encore Capital Group Company Profile
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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