Propel Holdings Inc. (TSE:PRL) Receives Average Rating of “Strong Buy” from Brokerages

Shares of Propel Holdings Inc. (TSE:PRL) have received an average rating of “Strong Buy” from the six analysts that are currently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a buy recommendation and three have assigned a strong buy recommendation to the company.

A number of research analysts have weighed in on PRL shares. Scotiabank lowered their target price on Propel from C$45.00 to C$44.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. Raymond James cut their price target on Propel from C$52.00 to C$44.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th.

Insider Buying and Selling at Propel

In related news, Senior Officer Noah Buchman sold 18,800 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were 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 company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $36.13, for a total transaction of $202,345.92. 33.31% of the stock is currently owned by corporate insiders.

Propel Price Performance

TSE PRL opened at $23.87 on Thursday. The stock has a market capitalization of $664.56 million, a price-to-earnings ratio of 14.77 and a beta of 1.75. Propel has a 1-year low of $14.97 and a 1-year high of $43.36. The business’s fifty day moving average price is $33.03 and its 200-day moving average price is $33.63.

Propel Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 11.06%. The ex-dividend date of this dividend was Wednesday, February 19th. This is a positive change from Propel’s previous quarterly dividend of $0.15. Propel’s payout ratio is currently 34.64%.

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.