JMP Securities Increases Portfolio Recovery Associates Price Target to $72.00 (PRAA)
Analysts at JMP Securities raised their price target on shares of Portfolio Recovery Associates (NASDAQ:PRAA) from $63.00 to $72.00 in a research report issued to clients and investors on Thursday, Stock Ratings Network.com reports. JMP Securities’ price target suggests a potential upside of 21.11% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated an “outperform” rating on shares of Portfolio Recovery Associates in a research note to investors on Thursday. They now have a $76.00 price target on the stock. Finally, analysts at Janney Montgomery Scott raised their price target on shares of Portfolio Recovery Associates from $53.00 to $63.00 in a research note to investors on Monday, October 7th. They now have a “neutral” rating on the stock. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $70.33.
Shares of Portfolio Recovery Associates (NASDAQ:PRAA) traded down 5.54% during mid-day trading on Thursday, hitting $59.45. The stock had a trading volume of 1,520,325 shares. Portfolio Recovery Associates has a 1-year low of $30.63 and a 1-year high of $63.96. The stock’s 50-day moving average is $59.93 and its 200-day moving average is $52.44. The company has a market cap of $3.016 billion and a price-to-earnings ratio of 21.30.
Portfolio Recovery Associates (NASDAQ:PRAA) last announced its earnings results on Wednesday, October 30th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.06. The company had revenue of $197.76 million for the quarter, compared to the consensus estimate of $181.86 million. During the same quarter in the previous year, the company posted $1.96 earnings per share. The company’s revenue for the quarter was up 31.4% on a year-over-year basis. Analysts expect that Portfolio Recovery Associates will post $3.34 EPS for the current fiscal 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.