Propel Holdings Inc. (TSE:PRL) Receives Average Recommendation of "Strong Buy" from Brokerages

Propel Holdings Inc. (TSE:PRL - Get Free Report) has been assigned a consensus recommendation of "Strong Buy" from the six analysts that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a buy recommendation and three have given a strong buy recommendation to the company.

A number of research analysts have recently commented on the stock. Scotiabank reduced their target price on shares of Propel from C$44.00 to C$38.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Cormark raised shares of Propel to a "moderate buy" rating in a research report on Thursday, July 10th. Finally, Raymond James Financial reduced their target price on shares of Propel from C$46.00 to C$42.00 in a research report on Wednesday.

Propel Stock Down 1.5%

Shares of TSE PRL traded down $0.54 during trading on Wednesday, reaching $36.10. 31,643 shares of the stock were exchanged, compared to its average volume of 178,863. The business's 50-day moving average price is $34.70 and its 200 day moving average price is $31.74. Propel has a twelve month low of $20.99 and a twelve month high of $43.36. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 22.33 and a beta of 1.75.

Propel Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Wednesday, June 4th were issued a $0.18 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.72 annualized dividend and a yield of 1.99%. Propel's dividend payout ratio is presently 34.64%.

Insider Transactions at Propel

In other Propel news, Senior Officer Jonathan Krauklis sold 5,000 shares of the business's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $36.00, for a total transaction of $180,000.00. Also, Director Clive Kinross sold 5,000 shares of the business's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $37.69, for a total transaction of $188,470.00. Insiders sold a total of 115,493 shares of company stock valued at $4,085,590 over the last ninety days. 33.31% of the stock is currently owned by corporate 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.