SunTrust Banks Inc. Analysts Give PRA Group Inc. (PRAA) a $42.00 Price Target
PRA Group Inc. (NASDAQ:PRAA) received a $42.00 target price from equities research analysts at SunTrust Banks Inc. in a note issued to investors on Tuesday. The firm presently has a a “buy” rating on the stock. SunTrust Banks Inc.’s price objective suggests a potential upside of 24.26% from the company’s current price.
Several other research firms have also issued reports on PRAA. William Blair reaffirmed an “outperform” rating on shares of PRA Group in a report on Tuesday, September 20th. Zacks Investment Research raised PRA Group from a “sell” rating to a “hold” rating in a report on Tuesday, August 16th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $34.20.
PRA Group (NASDAQ:PRAA) traded down 0.88% during trading on Tuesday, hitting $33.80. The stock had a trading volume of 269,837 shares. The company has a 50-day moving average of $32.79 and a 200-day moving average of $29.01. The stock has a market capitalization of $1.57 billion, a P/E ratio of 12.58 and a beta of 1.32. PRA Group has a 52 week low of $20.00 and a 52 week high of $56.00.
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PRA Group (NASDAQ:PRAA) last released its earnings results on Monday, August 8th. The company reported $0.83 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.83. The company earned $228.50 million during the quarter, compared to analyst estimates of $227.92 million. PRA Group had a return on equity of 19.50% and a net margin of 13.89%. PRA Group’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.06 earnings per share. On average, equities analysts expect that PRA Group will post $2.95 earnings per share for the current fiscal year.
In other PRA Group news, insider Michael J. Petit sold 8,300 shares of the stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $28.93, for a total transaction of $240,119.00. Following the completion of the transaction, the insider now directly owns 116,857 shares of the company’s stock, valued at $3,380,673.01. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael J. Petit sold 15,000 shares of the stock in a transaction on Friday, September 30th. The shares were sold at an average price of $34.21, for a total value of $513,150.00. Following the transaction, the insider now directly owns 106,857 shares of the company’s stock, valued at $3,655,577.97. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. BlackRock Fund Advisors raised its position in shares of PRA Group by 1.5% in the second quarter. BlackRock Fund Advisors now owns 3,006,572 shares of the company’s stock valued at $72,579,000 after buying an additional 43,170 shares during the period. PNC Financial Services Group Inc. raised its position in shares of PRA Group by 17.7% in the second quarter. PNC Financial Services Group Inc. now owns 2,071,694 shares of the company’s stock valued at $50,011,000 after buying an additional 311,888 shares during the period. BloombergSen Inc. raised its position in shares of PRA Group by 1.6% in the second quarter. BloombergSen Inc. now owns 1,948,627 shares of the company’s stock valued at $47,040,000 after buying an additional 30,567 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of PRA Group by 1.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,211,240 shares of the company’s stock valued at $35,598,000 after buying an additional 21,785 shares during the period. Finally, Cooke & Bieler LP raised its position in shares of PRA Group by 70.0% in the second quarter. Cooke & Bieler LP now owns 1,132,117 shares of the company’s stock valued at $27,329,000 after buying an additional 466,228 shares during the period.
About PRA Group
PRA Group, Inc (PRA Group), formerly Portfolio Recovery Associates, Inc, is a financial and business services company with operations in the Americas and Europe. The Company is engaged in the acquisition and collection of nonperforming loans in the Americas and Europe. Its business focuses upon the acquisition, collection, and processing of both unpaid and normal-course accounts receivable originally owed to credit grantors, government entities and others.
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