Pra Group (NASDAQ:PRAA) Given New $32.00 Price Target at Buckingham Research

Pra Group (NASDAQ:PRAA) had its price target raised by Buckingham Research from $30.00 to $32.00 in a research note released on Friday morning, BenzingaRatingsTable reports. The firm currently has a neutral rating on the business services provider’s stock.

Several other research analysts also recently issued reports on PRAA. ValuEngine upgraded shares of Pra Group from a sell rating to a hold rating in a report on Thursday, August 1st. BidaskClub upgraded Pra Group from a sell rating to a hold rating in a report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Pra Group presently has an average rating of Hold and an average price target of $32.00.

Shares of NASDAQ:PRAA traded up $2.30 during trading on Friday, hitting $32.53. 460,228 shares of the company were exchanged, compared to its average volume of 219,092. The stock has a 50 day simple moving average of $28.95. The firm has a market cap of $1.32 billion, a P/E ratio of 22.59 and a beta of 1.64. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.07. Pra Group has a 1-year low of $22.62 and a 1-year high of $39.40.

Pra Group (NASDAQ:PRAA) last announced its quarterly earnings results on Thursday, August 8th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.04. The company had revenue of $252.06 million during the quarter, compared to the consensus estimate of $245.48 million. Pra Group had a net margin of 6.42% and a return on equity of 5.26%. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.43 earnings per share. On average, equities research analysts expect that Pra Group will post 1.66 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of PRAA. LPL Financial LLC bought a new position in Pra Group in the 2nd quarter valued at about $208,000. Charles Schwab Investment Management Inc. increased its stake in Pra Group by 3.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 450,791 shares of the business services provider’s stock valued at $12,686,000 after buying an additional 13,043 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in Pra Group by 1.1% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 49,309 shares of the business services provider’s stock valued at $1,387,000 after buying an additional 541 shares during the last quarter. Bank of Montreal Can increased its stake in Pra Group by 10.6% in the 2nd quarter. Bank of Montreal Can now owns 576,570 shares of the business services provider’s stock valued at $16,225,000 after buying an additional 55,373 shares during the last quarter. Finally, Synovus Financial Corp increased its stake in Pra Group by 6.4% in the 2nd quarter. Synovus Financial Corp now owns 31,346 shares of the business services provider’s stock valued at $882,000 after buying an additional 1,888 shares during the last quarter.

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 in the Americas and Europe. It is involved in the acquisition of accounts that are primarily the unpaid obligations of individuals owed to credit grantors, which include banks and other types of consumer, retail, and auto finance companies.

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