Propel (TSE:PRL) Given New C$44.00 Price Target at Raymond James

Propel (TSE:PRL) had its target price lowered by Raymond James from C$52.00 to C$44.00 in a research note published on Thursday,BayStreet.CA reports. Raymond James currently has an outperform rating on the stock.

Several other research firms also recently issued reports on PRL. Scotiabank cut their target price on Propel from C$45.00 to C$44.00 and set an “outperform” rating on the stock in a research report on Thursday. Stephens upgraded Propel to a “strong-buy” rating in a research note on Wednesday, November 13th. Three investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Strong Buy” and a consensus price target of $42.75.

Propel Trading Down 13.1 %

Shares of Propel stock opened at $22.26 on Thursday. The firm’s 50 day simple moving average is $34.39 and its two-hundred day simple moving average is $33.76. The firm has a market capitalization of $619.74 million, a price-to-earnings ratio of 13.77 and a beta of 1.75. Propel has a 12-month low of $14.97 and a 12-month high of $43.36.

Propel Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, March 5th were given a dividend of $0.66 per share. The ex-dividend date was Wednesday, February 19th. This is an increase from Propel’s previous quarterly dividend of $0.15. This represents a $2.64 dividend on an annualized basis and a yield of 11.86%. Propel’s payout ratio is currently 34.64%.

Insider Buying and Selling at Propel

In other Propel news, Senior Officer Noah Buchman sold 18,800 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $37.40, for a total value of $703,120.00. Also, Senior Officer Cindy Usprech sold 5,600 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $36.13, for a total transaction of $202,345.92. Over the last three months, insiders have sold 54,400 shares of company stock valued at $2,009,283. 33.31% of the stock is owned by insiders.

About Propel

Propel Holdings Inc operates as a financial technology company. The company’s lending platform facilitates to credit products, such as installment loans and lines of credit under the MoneyKey, CreditFresh, and Fora Credit brands to American consumers. It also offers marketing, analytics, and loan servicing services.