Propel (TSE:PRL) Price Target Cut to C$44.00 by Analysts at Scotiabank

Propel (TSE:PRL) had its price objective decreased by Scotiabank from C$45.00 to C$44.00 in a research report sent to investors on Thursday morning,BayStreet.CA reports. Scotiabank currently has an outperform rating on the stock.

Other equities analysts also recently issued research reports about the stock. Stephens raised shares of Propel to a “strong-buy” rating in a research note on Wednesday, November 13th. Raymond James raised their target price on shares of Propel from C$40.00 to C$47.00 in a research note on Monday, November 18th. Three research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Strong Buy” and a consensus target price of $42.75.

Propel Trading Up 6.3 %

Shares of PRL stock opened at $23.66 on Thursday. The company’s fifty day simple moving average is $33.84 and its 200-day simple moving average is $33.76. Propel has a 52 week low of $14.97 and a 52 week high of $43.36. The company has a market cap of $658.72 million, a PE ratio of 14.64 and a beta of 1.75.

Propel Increases Dividend

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

Insider Buying and Selling

In other news, Director Clive Kinross sold 30,000 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $36.79, for a total value of $1,103,817.00. Also, Senior Officer Noah Buchman sold 18,800 shares of the business’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $37.40, for a total transaction of $703,120.00. Insiders have sold 54,400 shares of company stock valued at $2,009,283 in the last quarter. Company insiders own 33.31% of the company’s stock.

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.