Propel (TSE:PRL) Stock Price Expected to Rise, Scotiabank Analyst Says

Propel (TSE:PRL - Free Report) had its price objective hoisted by Scotiabank from C$38.00 to C$43.00 in a report released on Wednesday morning,BayStreet.CA reports.

Several other research firms have also recently issued reports on PRL. Raymond James Financial cut their price objective on Propel from C$46.00 to C$42.00 in a research report on Wednesday, July 16th. Cormark upgraded Propel to a "moderate buy" rating in a research report on Thursday, July 10th. Three research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Propel presently has a consensus rating of "Strong Buy" and an average price target of $42.00.

Propel Trading Down 0.2%

Shares of Propel stock traded down $0.06 during trading hours on Wednesday, hitting $36.34. 61,067 shares of the company were exchanged, compared to its average volume of 176,242. Propel has a 1 year low of $20.99 and a 1 year high of $43.36. The business has a 50-day moving average of $35.06 and a 200-day moving average of $31.69. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 22.48 and a beta of 1.75.

Propel Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Wednesday, June 4th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend was Thursday, May 15th. Propel's dividend payout ratio is currently 34.64%.

Insider Activity

In related news, Senior Officer Cindy Usprech sold 11,050 shares of the business's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $32.54, for a total transaction of $359,567.00. Also, Senior Officer Bradley Sherk sold 6,100 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $31.85, for a total value of $194,285.00. Insiders sold a total of 115,493 shares of company stock worth $4,085,590 in the last ninety days. 33.31% of the stock is currently owned by company insiders.

Propel Company Profile

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.