PRA Group (NASDAQ:PRAA) Given a $24.00 Price Target by JMP Securities Analysts

Key Points

• JMP Securities has raised the price target for PRA Group from $23.00 to $24.00, indicating a potential upside of 53.55% from its previous close.
• PRA Group's stock is currently trading at $15.63, reflecting a 3.8% increase, with notable earnings exceeding consensus estimates in its latest quarterly reports.
• While JMP Securities maintains a "market outperform" rating, Wall Street Zen has downgraded PRA Group from "hold" to "sell," reflecting mixed investor sentiment.

PRA Group (NASDAQ:PRAA - Get Free Report) has been given a $24.00 price target by analysts at JMP Securities in a research report issued on Tuesday, MarketBeat Ratings reports. The brokerage presently has a "market outperform" rating on the business services provider's stock. JMP Securities' price objective suggests a potential upside of 55.74% from the stock's current price.

Separately, Wall Street Zen lowered shares of PRA Group from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd.

PRA Group Trading Down 1.6%

Shares of PRAA stock traded down $0.25 during trading hours on Tuesday, reaching $15.41. The stock had a trading volume of 266,504 shares, compared to its average volume of 336,597. PRA Group has a 12 month low of $12.91 and a 12 month high of $25.43. The firm has a market capitalization of $602.07 million, a PE ratio of 6.61 and a beta of 1.54. The stock's fifty day simple moving average is $15.26 and its 200 day simple moving average is $17.71.

PRA Group (NASDAQ:PRAA - Get Free Report) last announced its earnings results on Monday, August 4th. The business services provider reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.46. PRA Group had a net margin of 8.10% and a return on equity of 6.52%. The business had revenue of $287.69 million during the quarter, compared to analyst estimates of $279.34 million. As a group, equities research analysts anticipate that PRA Group will post 2.1 EPS for the current fiscal year.

Institutional Investors Weigh In On PRA Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sterling Capital Management LLC raised its holdings in PRA Group by 805.8% during the 4th quarter. Sterling Capital Management LLC now owns 1,241 shares of the business services provider's stock valued at $26,000 after buying an additional 1,104 shares during the last quarter. Quarry LP increased its position in PRA Group by 154.2% during the 4th quarter. Quarry LP now owns 3,345 shares of the business services provider's stock valued at $70,000 after purchasing an additional 2,029 shares during the period. KLP Kapitalforvaltning AS purchased a new position in PRA Group during the 4th quarter valued at $134,000. Virtus Advisers LLC purchased a new position in PRA Group during the 1st quarter valued at $147,000. Finally, Point72 Asset Management L.P. purchased a new position in PRA Group during the 4th quarter valued at $155,000. 97.22% of the stock is currently owned by institutional investors.

PRA Group Company Profile

PRA Group, Inc, a financial and business services company, engages in the purchase, collection, and management of portfolios of nonperforming loans worldwide. It is involved in the purchase of accounts that are primarily the unpaid obligations of individuals owed to credit originators, which include banks and other types of consumer, retail, and auto finance companies.