Propel (TSE:PRL) Given a C$37.00 Price Target by TD Analysts

Key Points

• TD set a C$37.00 price target for Propel and maintained a “buy” rating. Analysts overall rate the stock “Buy,” with two Strong Buy, five Buy, and two Hold recommendations.
• Propel shares fell 3.8% to C$23.17, below the latest analyst targets. The stock has traded between C$17.24 and C$29.68 over the past year.
• The company’s latest quarterly results missed expectations, reporting EPS of C$0.58 versus the C$0.66 consensus and revenue of C$179.6 million versus estimates of C$251.89 million.

Propel (TSE:PRL - Get Free Report) received a C$37.00 price objective from analysts at TD in a research report issued on Wednesday, BayStreet reports. The firm presently has a "buy" rating on the stock.

A number of other research analysts also recently issued reports on PRL. Raymond James Financial upgraded shares of Propel from a "moderate buy" rating to a "strong-buy" rating and lifted their price target for the stock from C$31.00 to C$38.00 in a research note on Thursday, August 6th. Ventum increased their target price on shares of Propel from C$30.00 to C$34.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Stifel Nicolaus set a C$38.00 price target on shares of Propel and gave the stock a "buy" rating in a research note on Monday, August 31st. Scotia boosted their price target on shares of Propel from C$27.00 to C$29.00 and gave the company a "sector perform" rating in a research report on Friday, August 7th. Finally, TD Securities upgraded shares of Propel to a "strong-buy" rating in a research note on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy".

Propel Trading Down 3.8%

TSE:PRL traded down $0.91 during midday trading on Wednesday, reaching $23.17. The company had a trading volume of 51,269 shares, compared to its average volume of 222,848. Propel has a 12-month low of $17.24 and a 12-month high of $29.68. The firm has a market capitalization of $912.27 million, a price-to-earnings ratio of 16.91 and a beta of 0.88. The stock's fifty day simple moving average is $25.32 and its 200-day simple moving average is $23.65.

Propel (TSE:PRL - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.58 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.66 by ($0.08). Propel had a net margin of 8.81% and a return on equity of 21.12%. The company had revenue of $179.60 million during the quarter, compared to analyst estimates of $251.89 million. As a group, sell-side analysts expect that Propel will post 5.39 EPS for the current year.

Insider Buying and Selling

In related news, insider Cindy Usprech sold 9,196 shares of the company's stock in a transaction on Thursday, September 24th. The shares were sold at an average price of $25.86, for a total value of $237,808.56. 33.31% of the stock is currently owned by company insiders.

About Propel

Propel Holdings Inc is a financial technology company committed to credit inclusion and helping underserved consumers by providing fair, fast, and transparent access to credit. It operates through its two brands: MoneyKey and CreditFresh. The company, through its MoneyKey brand, is a state-licensed direct lender and offers either Installment Loans or Lines of Credit to new customers in several US states. Through its CreditFresh brand, the company operates as a bank servicer that provides marketing, technology, and loan servicing services to unaffiliated, FDIC insured, state-chartered banks in the US (Bank Program).

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