Keefe, Bruyette & Woods cut shares of PRA Group, Inc. (NASDAQ:PRAA) from an outperform rating to a market perform rating in a report published on Tuesday. The brokerage currently has $40.00 price target on the business services provider’s stock, up from their previous price target of $36.00.
Other equities research analysts also recently issued reports about the stock. BidaskClub downgraded shares of PRA Group from a buy rating to a hold rating in a research report on Friday, August 18th. Zacks Investment Research downgraded PRA Group from a hold rating to a sell rating in a research report on Thursday, July 13th. Janney Montgomery Scott downgraded PRA Group from a neutral rating to a sell rating in a research report on Wednesday, October 4th. Citigroup Inc. downgraded PRA Group to an underperform rating in a research report on Thursday, September 21st. Finally, Raymond James Financial, Inc. restated an underperform rating on shares of PRA Group in a research report on Thursday, September 21st. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $38.00.
PRA Group (PRAA) traded down 0.086% during trading on Tuesday, reaching $28.925. The company had a trading volume of 127,130 shares. PRA Group has a 1-year low of $23.15 and a 1-year high of $42.70. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 17.530 and a beta of 1.49. The firm has a 50-day moving average of $28.92 and a 200-day moving average of $33.81.
PRA Group (NASDAQ:PRAA) last posted its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.23). PRA Group had a net margin of 9.76% and a return on equity of 4.69%. The company had revenue of $200.30 million for the quarter, compared to analyst estimates of $208.97 million. During the same quarter in the previous year, the business posted $0.83 earnings per share. PRA Group’s revenue was down 12.3% on a year-over-year basis. On average, analysts anticipate that PRA Group will post $1.88 EPS for the current fiscal year.
Several institutional investors have recently modified their holdings of PRAA. First Trust Advisors LP raised its position in shares of PRA Group by 15.5% during the 1st quarter. First Trust Advisors LP now owns 52,632 shares of the business services provider’s stock worth $1,745,000 after purchasing an additional 7,080 shares during the last quarter. Swiss National Bank raised its position in shares of PRA Group by 2.6% during the 1st quarter. Swiss National Bank now owns 76,400 shares of the business services provider’s stock worth $2,533,000 after purchasing an additional 1,900 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in shares of PRA Group by 18.0% during the 1st quarter. UBS Asset Management Americas Inc. now owns 24,473 shares of the business services provider’s stock worth $811,000 after purchasing an additional 3,731 shares during the last quarter. Karp Capital Management Corp acquired a new position in shares of PRA Group during the 1st quarter worth approximately $438,000. Finally, Ameriprise Financial Inc. raised its position in shares of PRA Group by 4.8% during the 1st quarter. Ameriprise Financial Inc. now owns 247,276 shares of the business services provider’s stock worth $8,198,000 after purchasing an additional 11,316 shares during the last quarter.
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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