TD Reiterates “C$37.00” Price Target for Propel (TSE:PRL)

Propel (TSE:PRL) has been assigned a C$37.00 price target by TD in a report released on Wednesday, BayStreet reports. The firm presently has a “buy” rating on the stock.

Several other equities research analysts also recently weighed in on the company. Raymond James Financial raised Propel from a “moderate buy” rating to a “strong-buy” rating and increased their price target for the stock from C$31.00 to C$38.00 in a report on Thursday, August 6th. Ventum boosted their price objective on shares of Propel from C$30.00 to C$34.00 and gave the company a “buy” rating in a research note on Friday, August 7th. TD Securities upgraded shares of Propel to a “strong-buy” rating in a research report on Tuesday, July 14th. Scotia upped their price objective on shares of Propel from C$27.00 to C$29.00 and gave the stock a “sector perform” rating in a research report on Friday, August 7th. Finally, Stifel Nicolaus set a C$38.00 target price on shares of Propel and gave the stock a “buy” rating in a research note on Monday, August 31st. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Propel presently has an average rating of “Buy”.

Propel Stock Down 3.8%

PRL traded down $0.91 on Wednesday, hitting $23.17. 51,269 shares of the company traded hands, compared to its average volume of 222,848. Propel has a 12-month low of $17.24 and a 12-month high of $29.68. The company has a 50 day moving average of $25.32 and a 200-day moving average of $23.65. The stock has a market capitalization of $912.27 million, a PE ratio of 16.91 and a beta of 0.88.

Propel (TSE:PRL) last announced its earnings results on Wednesday, August 5th. The company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.08). The company had revenue of $179.60 million during the quarter, compared to analysts’ expectations of $251.89 million. Propel had a net margin of 8.81% and a return on equity of 21.12%. On average, research analysts anticipate that Propel will post 5.39 EPS for the current year.

Insider Activity

In other news, insider Cindy Usprech sold 9,196 shares of the firm’s stock in a transaction that occurred on Thursday, September 24th. The stock was sold at an average price of $25.86, for a total value of $237,808.56. Company insiders own 33.31% of the company’s stock.

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).