PRA Group (NASDAQ:PRAA) Rating Increased to Neutral at Janney Montgomery Scott

Janney Montgomery Scott upgraded shares of PRA Group (NASDAQ:PRAA) from a sell rating to a neutral rating in a research report sent to investors on Thursday, November 9th, MarketBeat.com reports.

Several other research firms have also weighed in on PRAA. Raymond James Financial reaffirmed an underperform rating on shares of PRA Group in a report on Thursday, September 21st. Citigroup lowered shares of PRA Group to an underperform rating in a report on Thursday, September 21st. BidaskClub lowered shares of PRA Group from a buy rating to a hold rating in a report on Tuesday, July 25th. Keefe, Bruyette & Woods lowered shares of PRA Group from an outperform rating to a market perform rating and raised their price objective for the stock from $36.00 to $40.00 in a report on Tuesday, October 10th. Finally, Zacks Investment Research lowered shares of PRA Group from a hold rating to a sell rating in a report on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $40.00.

Shares of PRA Group (NASDAQ:PRAA) opened at $34.65 on Thursday. The firm has a market cap of $1,560.59, a PE ratio of 53.98 and a beta of 1.51. PRA Group has a one year low of $25.72 and a one year high of $42.70.

PRA Group (NASDAQ:PRAA) last announced its quarterly earnings results on Wednesday, November 8th. The business services provider reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.04). The business had revenue of $201.00 million for the quarter, compared to the consensus estimate of $196.96 million. PRA Group had a return on equity of 2.98% and a net margin of 7.57%. The firm’s revenue for the quarter was down 9.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.68 EPS. equities analysts expect that PRA Group will post 1.38 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of PRAA. BlackRock Inc. increased its holdings in shares of PRA Group by 53,101.9% in the first quarter. BlackRock Inc. now owns 6,007,031 shares of the business services provider’s stock valued at $199,134,000 after purchasing an additional 5,995,740 shares in the last quarter. Turtle Creek Asset Management Inc. increased its holdings in shares of PRA Group by 35.7% in the third quarter. Turtle Creek Asset Management Inc. now owns 5,955,965 shares of the business services provider’s stock valued at $170,638,000 after purchasing an additional 1,566,430 shares in the last quarter. Investment Counselors of Maryland LLC increased its holdings in shares of PRA Group by 376.4% in the third quarter. Investment Counselors of Maryland LLC now owns 617,790 shares of the business services provider’s stock valued at $17,700,000 after purchasing an additional 488,114 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of PRA Group by 9.4% in the first quarter. Vanguard Group Inc. now owns 4,186,390 shares of the business services provider’s stock valued at $138,779,000 after purchasing an additional 360,823 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of PRA Group by 14.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,744,664 shares of the business services provider’s stock valued at $66,123,000 after purchasing an additional 218,409 shares in the last quarter.

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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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