In a report released today, Michael Grondahl from Northland Securities upgraded Encore Capital (NASDAQ: ECPG) to Buy, with a price target of $49. The company’s shares closed yesterday at $35.55, close to its 52-week low of $35.15.
According to TipRanks.com, Grondahl is a 5-star analyst with an average return of 33.6% and a 74.0% success rate. Grondahl covers the Financial sector, focusing on stocks such as Altisource Portfolio Solutions SA, Health Insurance Innovations, and Fintech Acquisition Corp II.
Currently, the analyst consensus on Encore Capital is a Strong Buy with an average price target of $52, representing a 46.3% upside. In a report released today, Oppenheimer also assigned a Buy rating to the stock with a $54 price target.
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Encore Capital’s market cap is currently $921.2M and has a P/E ratio of 11.36. The company has a Price to Book ratio of 1.51.
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Encore Capital Group, Inc. engages in the provision of debt management and recovery solutions for consumers and property owners across a broad range of financial assets. It operates through the following geographical segments: United States, International, Europe, and Other. The company was founded in April 1999 and is headquartered in San Diego, CA.
