Propel (TSE:PRL) Hits New 12-Month High – Here’s What Happened

Propel Holdings Inc. (TSE:PRL) shares hit a new 52-week high on Friday . The company traded as high as $42.75 and last traded at $41.95, with a volume of 38576 shares. The stock had previously closed at $40.59.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PRL shares. Stephens raised shares of Propel to a “strong-buy” rating in a research note on Wednesday, November 13th. Scotiabank downgraded Propel from a “strong-buy” rating to a “hold” rating in a report on Friday, November 8th. Ventum Financial set a C$38.00 target price on Propel and gave the company a “buy” rating in a report on Wednesday, October 9th. Ventum Cap Mkts raised Propel to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, Canaccord Genuity Group raised Propel to a “strong-buy” rating in a research note on Friday, October 4th. One investment analyst has rated the stock with a hold rating, one has assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $41.00.

Propel Price Performance

The company has a market capitalization of $1.45 billion, a P/E ratio of 29.53 and a beta of 1.75. The company has a 50 day moving average of $36.91 and a 200-day moving average of $31.89.

Propel (TSE:PRL) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.19). Propel had a return on equity of 36.84% and a net margin of 10.17%. Research analysts predict that Propel Holdings Inc. will post 5.3923205 EPS for the current fiscal year.

Propel Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Wednesday, December 4th were given a dividend of $0.15 per share. This is an increase from Propel’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date was Friday, November 15th. Propel’s payout ratio is presently 39.16%.

Insider Transactions at Propel

In other news, Senior Officer Cindy Usprech sold 5,600 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $36.13, for a total value of $202,345.92. Also, Senior Officer Jonathan Ari Goler sold 5,200 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $38.30, for a total value of $199,160.00. In the last ninety days, insiders sold 60,459 shares of company stock valued at $2,241,343. Company insiders own 33.31% of the company’s stock.

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.