In a report released today, Randy Binner from B.Riley FBR maintained a Buy rating on Eagle Point Credit Company (ECC), with a price target of $8.00. The company’s shares closed last Wednesday at $5.90, close to its 52-week low of $3.78.
According to TipRanks.com, Binner is a 4-star analyst with an average return of 3.8% and a 56.2% success rate. Binner covers the Financial sector, focusing on stocks such as Federal National Mortgage Association, American Equity Investment Life, and National General Holdings.
Currently, the analyst consensus on Eagle Point Credit Company is a Moderate Buy with an average price target of $8.00.
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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 417.3K.
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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.
