PRA Group Inc. (PRAA) PT Set at $42.00 by SunTrust Banks Inc.
PRA Group Inc. (NASDAQ:PRAA) has been assigned a $42.00 price target by analysts at SunTrust Banks Inc. in a research report issued to clients and investors on Tuesday. The firm presently has a a “buy” rating on the stock. SunTrust Banks Inc.’s target price would indicate a potential upside of 23.17% from the stock’s previous close.
A number of other analysts also recently weighed in on PRAA. Zacks Investment Research upgraded PRA Group from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th. William Blair restated an “outperform” rating on shares of PRA Group in a report on Tuesday, September 20th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $34.20.
Shares of PRA Group (NASDAQ:PRAA) traded down 1.76% during mid-day trading on Tuesday, hitting $33.50. The stock had a trading volume of 161,089 shares. PRA Group has a 1-year low of $20.00 and a 1-year high of $56.00. The company has a market cap of $1.55 billion, a P/E ratio of 12.47 and a beta of 1.32. The firm’s 50 day moving average price is $32.66 and its 200 day moving average price is $28.98.
PRA Group (NASDAQ:PRAA) last posted its quarterly earnings data on Monday, August 8th. The company reported $0.83 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.83. The business earned $228.50 million during the quarter, compared to the consensus estimate of $227.92 million. PRA Group had a return on equity of 19.50% and a net margin of 13.89%. PRA Group’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.06 earnings per share. Analysts predict that PRA Group will post $2.95 earnings per share for the current fiscal year.
In other news, insider Michael J. Petit sold 8,300 shares of the stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $28.93, for a total transaction of $240,119.00. Following the transaction, the insider now owns 116,857 shares of the company’s stock, valued at approximately $3,380,673.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael J. Petit sold 15,000 shares of the stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $34.21, for a total transaction of $513,150.00. Following the transaction, the insider now directly owns 106,857 shares in the company, valued at approximately $3,655,577.97. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in PRAA. BlackRock Fund Advisors boosted its position in PRA Group by 1.5% in the second quarter. BlackRock Fund Advisors now owns 3,006,572 shares of the company’s stock worth $72,579,000 after buying an additional 43,170 shares during the period. PNC Financial Services Group Inc. boosted its position in PRA Group by 17.7% in the second quarter. PNC Financial Services Group Inc. now owns 2,071,694 shares of the company’s stock worth $50,011,000 after buying an additional 311,888 shares during the period. BloombergSen Inc. boosted its position in PRA Group by 1.6% in the second quarter. BloombergSen Inc. now owns 1,948,627 shares of the company’s stock worth $47,040,000 after buying an additional 30,567 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in PRA Group by 1.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,211,240 shares of the company’s stock worth $35,598,000 after buying an additional 21,785 shares during the period. Finally, Cooke & Bieler LP boosted its position in PRA Group by 70.0% in the second quarter. Cooke & Bieler LP now owns 1,132,117 shares of the company’s stock worth $27,329,000 after buying an additional 466,228 shares during the period.
About PRA Group
PRA Group, Inc (PRA Group), formerly Portfolio Recovery Associates, Inc, is a financial and business services company with operations in the Americas and Europe. The Company is engaged in the acquisition and collection of nonperforming loans in the Americas and Europe. Its business focuses upon the acquisition, collection, and processing of both unpaid and normal-course accounts receivable originally owed to credit grantors, government entities and others.
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