Eagle Point Credit (NYSE:ECC) Raised to "Strong-Buy" at LADENBURG THALM/SH SH

Key Points

• Eagle Point Credit (NYSE:ECC) has been upgraded to a "strong-buy" rating by analysts at LADENBURG THALM/SH SH, indicating increased confidence in the stock's potential growth.
• The company's recent quarterly earnings report showed $0.28 earnings per share, exceeding analysts' expectations of $0.26, demonstrating stronger-than-expected performance.
• Despite the upgrade, the stock is currently trading down 2.4% at $6.67, with a market cap of $513.18 million and a 1-year trading range of $6.00 to $10.06.

Eagle Point Credit (NYSE:ECC - Get Free Report) was upgraded by research analysts at LADENBURG THALM/SH SH to a "strong-buy" rating in a research report issued to clients and investors on Wednesday, August 13th,Zacks.com reports.

A number of other brokerages also recently issued reports on ECC. Keefe, Bruyette & Woods reduced their price target on Eagle Point Credit from $9.00 to $7.50 and set a "market perform" rating on the stock in a report on Thursday, May 29th. Credit Suisse Group set a $7.50 price objective on Eagle Point Credit in a research report on Thursday, May 29th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $8.67.

Eagle Point Credit Trading Down 0.7%

Shares of Eagle Point Credit stock traded down $0.0450 on Wednesday, hitting $6.7550. The stock had a trading volume of 334,353 shares, compared to its average volume of 1,441,147. The stock's 50-day simple moving average is $7.26 and its two-hundred day simple moving average is $7.76. Eagle Point Credit has a one year low of $6.00 and a one year high of $10.06. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.32. The stock has a market cap of $519.80 million, a price-to-earnings ratio of 61.41 and a beta of 0.38.

Eagle Point Credit (NYSE:ECC - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The investment management company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.02. Eagle Point Credit had a net margin of 6.73% and a return on equity of 13.49%. The business had revenue of $52.30 million for the quarter, compared to analyst estimates of $53.54 million. As a group, sell-side analysts predict that Eagle Point Credit will post 1.1 EPS for the current year.

Institutional Investors Weigh In On Eagle Point Credit

Large investors have recently made changes to their positions in the company. AdvisorNet Financial Inc bought a new stake in Eagle Point Credit during the first quarter valued at approximately $25,000. GPS Wealth Strategies Group LLC bought a new stake in shares of Eagle Point Credit during the 2nd quarter valued at $25,000. Cape Investment Advisory Inc. increased its stake in shares of Eagle Point Credit by 91.2% in the 1st quarter. Cape Investment Advisory Inc. now owns 3,592 shares of the investment management company's stock worth $29,000 after purchasing an additional 1,713 shares in the last quarter. IFP Advisors Inc purchased a new stake in shares of Eagle Point Credit in the 2nd quarter worth $28,000. Finally, NBC Securities Inc. bought a new position in Eagle Point Credit in the 1st quarter worth $32,000. 19.50% of the stock is currently owned by institutional investors.

Eagle Point Credit Company Profile

Eagle Point Credit Company Inc is a closed ended fund launched and managed by Eagle Point Credit Management LLC. It invests in fixed income markets of the United States. The fund invests equity and junior debt tranches of collateralized loan obligations consisting primarily of below investment grade U.S.