NEW YORK ( TheStreet) -- Portfolio Recovery Associates (Nasdaq: PRAA) hit a new 52-week high Friday as it traded at $78.22 compared with its previous 52-Week high of $78. Portfolio Recovery Associates is changing hands at $78.13 with 54,503 shares traded as of 2:06 p.m. ET. Average volume has been 84,800 shares over the past 30 days. Portfolio Recovery Associates has a market cap of $1.3 billion and is part of the services sector and diversified services industry. Shares are up 2.6% year to date as of the close of trading on Thursday. Portfolio Recovery Associates, Inc. provides outsourced receivables management and related services in the United States. The company engages in the purchase, collection, and management of portfolios of defaulted consumer receivables. The company has a P/E ratio of 19.3, below the average diversified services industry P/E ratio of 19.4 and below the S&P 500 P/E ratio of 23.5. TheStreet Ratings rates Portfolio Recovery Associates as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, expanding profit margins and good cash flow from operations. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. You can view the full Portfolio Recovery Associates Ratings Report.