Propel Holdings Inc. (TSE:PRL) Given Average Recommendation of “Buy” by Brokerages

Shares of Propel Holdings Inc. (TSE:PRL) have received a consensus recommendation of “Buy” from the nine ratings firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and two have given a strong buy recommendation to the company.

A number of brokerages have recently issued reports on PRL. ATB Cormark Capital Markets boosted their target price on Propel from C$29.00 to C$38.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Scotia lifted their price target on shares of Propel from C$27.00 to C$29.00 and gave the company a “sector perform” rating in a research report on Friday, August 7th. Stifel Nicolaus set a C$38.00 price objective on shares of Propel and gave the stock a “buy” rating in a research note on Monday, August 31st. TD Securities raised shares of Propel to a “strong-buy” rating in a research report on Tuesday, July 14th. Finally, Raymond James Financial raised shares of Propel from a “moderate buy” rating to a “strong-buy” rating and raised their target price for the company from C$31.00 to C$38.00 in a research note on Thursday, August 6th.

Propel Price Performance

Shares of TSE:PRL opened at $26.45 on Friday. The business has a 50-day moving average of $25.43 and a two-hundred day moving average of $23.05. The firm has a market capitalization of $1.04 billion, a PE ratio of 19.31 and a beta of 0.89. Propel has a 12 month low of $17.24 and a 12 month high of $33.78.

Propel Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, September 3rd were issued a $0.255 dividend. The ex-dividend date was Friday, August 14th. This represents a $1.02 annualized dividend and a yield of 3.9%. This is an increase from Propel’s previous quarterly dividend of $0.24. Propel’s payout ratio is currently 46.03%.

Insider Buying and Selling

In other Propel news, insider Cindy Usprech sold 2,000 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $25.08, for a total transaction of $50,160.00. 33.31% of the stock is owned by company insiders.

About Propel

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. Through its CreditFresh brand, the company operates as a bank servicer that provides marketing, technology, and loan servicing services to unaffiliated, FDIC insured, state-chartered banks in the US (Bank Program).