B.Riley FBR Thinks Eagle Point Credit Company’s Stock is Going to Recover
B.Riley FBR analyst Randy Binner reiterated a Buy rating on Eagle Point Credit Company (ECC) today and set a price target of $8.00. The company’s shares closed last Thursday at $6.10, close to its 52-week low of $3.78.
According to TipRanks.com, Binner is a 4-star analyst with an average return of 3.9% and a 55.9% success rate. Binner covers the Financial sector, focusing on stocks such as Federal National Mortgage Association, American Equity Investment Life, and Colony Credit Real Estate.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Eagle Point Credit Company with a $8.00 average price target.
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The company has a one-year high of $19.41 and a one-year low of $3.78. Currently, Eagle Point Credit Company has an average volume of 468K.
Based on the recent corporate insider activity of 10 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ECC in relation to earlier this year.
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Eagle Point Credit Co., Inc. is a closed-end investment company. Its investment objective is to generate high current income, and generate capital appreciation by investing primarily in equity, and junior debt tranches of CLOs. The company was founded on March 24, 2014 and is headquartered in Greenwich, CT.