Janney Montgomery Scott Upgrades PRA Group, Inc. (PRAA) to Neutral
Janney Montgomery Scott upgraded shares of PRA Group, Inc. (NASDAQ:PRAA) from a sell rating to a neutral rating in a report issued on Thursday morning, Marketbeat reports.
Several other research analysts also recently issued reports on the company. Raymond James Financial, Inc. restated an underperform rating on shares of PRA Group in a research report on Thursday, September 21st. Citigroup Inc. downgraded PRA Group to an underperform rating in a research report on Thursday, September 21st. BidaskClub downgraded PRA Group from a buy rating to a hold rating in a research report on Tuesday, July 25th. Keefe, Bruyette & Woods downgraded PRA Group from an outperform rating to a market perform rating and lifted their price objective for the stock from $36.00 to $40.00 in a research report on Tuesday, October 10th. Finally, Zacks Investment Research downgraded PRA Group from a hold rating to a sell rating in a research report on Thursday, July 13th. Three analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. PRA Group currently has a consensus rating of Hold and a consensus target price of $40.00.
PRA Group (NASDAQ:PRAA) traded down $0.75 during mid-day trading on Thursday, hitting $33.55. 746,700 shares of the stock were exchanged, compared to its average volume of 491,555. PRA Group has a 52 week low of $25.72 and a 52 week high of $42.70. The firm has a market cap of $1,515.42, a P/E ratio of 52.42 and a beta of 1.51.
PRA Group (NASDAQ:PRAA) last posted its quarterly earnings results on Wednesday, November 8th. The business services provider reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.04). PRA Group had a net margin of 7.57% and a return on equity of 2.98%. The company had revenue of $201.00 million for the quarter, compared to analyst estimates of $196.96 million. During the same quarter in the previous year, the business posted $0.68 earnings per share. PRA Group’s revenue was down 9.5% on a year-over-year basis. analysts anticipate that PRA Group will post 1.38 earnings per share for the current year.
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Institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of PRA Group by 12.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,829 shares of the business services provider’s stock worth $107,000 after purchasing an additional 304 shares during the last quarter. Huntington National Bank raised its holdings in PRA Group by 5.5% in the 2nd quarter. Huntington National Bank now owns 3,084 shares of the business services provider’s stock valued at $117,000 after acquiring an additional 162 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in PRA Group by 10.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,150 shares of the business services provider’s stock valued at $119,000 after acquiring an additional 305 shares during the last quarter. UBS Group AG raised its holdings in PRA Group by 101.1% in the 1st quarter. UBS Group AG now owns 5,172 shares of the business services provider’s stock valued at $171,000 after acquiring an additional 2,600 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in PRA Group in the 3rd quarter valued at $189,000.
PRA Group Company Profile
PRA Group, Inc (PRA Group) is a financial and business services company with operations in the Americas and Europe. The Company’s primary business is the purchase, collection and management of portfolios of nonperforming loans. The Company operates through the account receivables management segment. It also provides fee-based services, such as vehicle location, skip tracing and collateral recovery for auto lenders, government entities and law enforcement; revenue administration, audit and revenue discovery/recovery services for local government entities; class action claims recovery services and purchases; servicing of consumer bankruptcy accounts in the United States, and contingent collections of nonperforming loans in Europe and South America.
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