Propel Holdings Inc. (TSE:PRL) Receives Consensus Rating of "Buy" from Analysts

Key Points

• Analysts maintain a consensus “Buy” rating on Propel Holdings, with five buy ratings, two strong-buy ratings, and two holds among nine covering brokerages.
• Several firms raised their price targets, with targets reaching as high as C$38; Propel shares opened at C$25.40, compared with a 52-week range of C$17.24 to C$35.28.
• Propel increased its quarterly dividend to C$0.255, equivalent to C$1.02 annually and a 4.0% yield; an insider separately sold 2,000 shares for approximately C$50,160.

Shares of Propel Holdings Inc. (TSE:PRL - Get Free Report) have been given an average rating of "Buy" by the nine brokerages that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating on the company.

Several analysts have commented on the stock. Ventum raised their price objective on shares of Propel from C$30.00 to C$34.00 and gave the stock a "buy" rating in a report on Friday, August 7th. TD raised their target price on Propel from C$33.00 to C$37.00 and gave the company a "buy" rating in a research note on Friday, August 7th. TD Securities upgraded Propel to a "strong-buy" rating in a research report on Tuesday, July 14th. ATB Cormark Capital Markets increased their price objective on Propel from C$29.00 to C$38.00 and gave the stock an "outperform" rating in a report on Friday, August 7th. Finally, Stifel Nicolaus set a C$38.00 price objective on Propel and gave the company a "buy" rating in a research report on Monday, August 31st.

Propel Price Performance

TSE:PRL opened at $25.40 on Friday. The company has a market capitalization of $999.79 million, a price-to-earnings ratio of 18.54 and a beta of 0.89. Propel has a 1-year low of $17.24 and a 1-year high of $35.28. The business has a 50 day moving average of $25.41 and a 200 day moving average of $22.94.

Propel Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, September 3rd were paid a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Friday, August 14th. This is a positive change from Propel's previous quarterly dividend of $0.24. Propel's dividend payout ratio (DPR) is 46.03%.

Insider Transactions at Propel

In related news, insider Cindy Usprech sold 2,000 shares of the business's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $25.08, for a total transaction of $50,160.00. 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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