Shares of Portfolio Recovery Associates Inc. hit a 52-week high on Thursday. The stock traded as high as $87.78 during mid-day trading and last traded at $87.55. The stock previously closed at $85.17.
The Norfolk, Va.-based firm, in its most recent filing, posted record fourth-quarter revenue while profits soared nearly 70% from a year earlier. The company earned net income of $20.6 million for the quarter ended Dec. 31, up 66.1% from $12.4 million a year earlier (
Separately, analysts at Zacks Investment Research reiterated a “neutral” rating on the company's shares in a research note to investors sent earlier this month. They now have a $85 price target on the stock.
Portfolio Recovery Associates is the sixth-largest U.S. debt buyer based on annual revenue, according to research by Collections & Credit Risk.
