Janney Montgomery Scott Increases Portfolio Recovery Associates Price Target to $63.00 (PRAA)
Analysts at Janney Montgomery Scott boosted their price objective on shares of Portfolio Recovery Associates (NASDAQ:PRAA) from $53.00 to $63.00 in a research report issued to clients and investors on Monday, Analyst Ratings Net reports. The firm currently has a “neutral” rating on the stock. Janney Montgomery Scott’s price target points to a potential upside of 7.69% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at JMP Securities raised their price target on shares of Portfolio Recovery Associates from $58.33 to $63.00 in a research note to investors on Friday, August 16th. Separately, analysts at Sidoti upgraded shares of Portfolio Recovery Associates from a “neutral” rating to a “buy” rating in a research note to investors on Monday, August 12th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $99.67.
Shares of Portfolio Recovery Associates (NASDAQ:PRAA) traded down 0.46% during mid-day trading on Monday, hitting $58.50. 353,944 shares of the company’s stock traded hands. Portfolio Recovery Associates has a one year low of $30.63 and a one year high of $61.60. The stock has a 50-day moving average of $57.30 and a 200-day moving average of $49.97. The company has a market cap of $2.968 billion and a P/E ratio of 19.89.
Portfolio Recovery Associates (NASDAQ:PRAA) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $2.56 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.25 by $0.31. The company had revenue of $182.96 million for the quarter, compared to the consensus estimate of $174.90 million. During the same quarter last year, the company posted $1.87 earnings per share. Portfolio Recovery Associates’s revenue was up 23.7% compared to the same quarter last year.
Portfolio Recovery Associates, Inc (NASDAQ:PRAA) is engaged in the detection, collection and processing of both unpaid and normal-course accounts receivable originally owed to credit grantors, governments, retailers and others.
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