Raymond James Cuts Propel (TSE:PRL) Price Target to C$44.00

Propel (TSE:PRL) had its price objective reduced by Raymond James from C$52.00 to C$44.00 in a research report report published on Thursday morning,BayStreet.CA reports. They currently have an outperform rating on the stock.

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

Propel Stock Up 6.3 %

PRL stock opened at $23.66 on Thursday. The firm has a market capitalization of $658.72 million, a PE ratio of 14.64 and a beta of 1.75. Propel has a twelve month low of $14.97 and a twelve month high of $43.36. The stock has a 50-day simple moving average of $33.84 and a two-hundred day simple moving average of $33.76.

Propel Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, March 5th were given a $0.66 dividend. This is an increase from Propel’s previous quarterly dividend of $0.15. The ex-dividend date was Wednesday, February 19th. This represents a $2.64 dividend on an annualized basis and a yield of 11.16%. Propel’s payout ratio is presently 34.64%.

Insider Buying and Selling

In other Propel news, Senior Officer Noah Buchman sold 18,800 shares of the business’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 business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $36.13, for a total value of $202,345.92. Insiders sold 54,400 shares of company stock worth $2,009,283 in the last quarter. 33.31% of the stock is owned by insiders.

Propel Company Profile

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.