ECN Capital (TSE:ECN) Share price down 4.9% following analyst downgrade

ECN Capital Corp. (TSE: ECN- Get a rating) the stock price was down 4.9% in Friday trading after Raymond James lowered its price target on the stock from C$8.00 to C$7.50. Raymond James currently has an outperform rating for the stock. ECN Capital traded as low as CA$5.97 and last traded at CA$5.97. Around 103,621 shares were traded at midday, down 82% from the average daily volume of 562,759 shares. The stock had previously closed at C$6.28.

Several other brokerages have also recently published reports on ECN. TD Securities raised its price target on ECN Capital shares from C$8.00 to C$8.50 and gave the stock a “buy” rating in a Tuesday 9 august. Cormark raised its price target on ECN Capital shares from C$7.50 to C$8.25 in a Friday, August 12 research note. National Bankshares raised its price target on ECN Capital shares from C$8.00 to C$8.50 and gave the stock an “outperform” rating in a report released Friday, August 12. BMO Capital Markets raised its price target on ECN Capital shares from C$7.00 to C$8.00 in a Friday, August 12 research report. Finally, Royal Bank of Canada raised its target price on ECN Capital shares from C$7.50 to C$8.00 and assigned the stock an “sector performance” rating in a rating of research from Monday, August 15. One research analyst gave the stock a hold rating and seven gave the stock a buy rating. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$8.60.

ECN share capital down 6.8%

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The company has a 50-day moving average of C$6.02 and a 200-day moving average of C$6.08. The company has a current ratio of 3.73, a quick ratio of 3.62 and a debt ratio of 365.53. The company has a market cap of C$1.44 billion and a price-earnings ratio of 62.80.

About ECN Capital

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ECN Capital Corp. creates, manages and advises leading consumer credit portfolios in North America. It operates through secured consumer loans – Triad Financial Services and Source One; and Consumer Credit Cards and Related Unsecured Consumer Loans – KG segments. The company offers secured consumer loan portfolios, including loans for manufactured homes, marine and recreational vehicles; and consumer credit card portfolios focused on co-branded credit cards and related financial products.

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