Propel (TSE:PRL) Hits New 52-Week High – Time to Buy?

Propel Holdings Inc. (TSE:PRL)’s stock price reached a new 52-week high during trading 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.

Wall Street Analyst Weigh In

PRL has been the topic of several research analyst reports. Raymond James upped their price objective on Propel from C$40.00 to C$47.00 in a research note on Monday, November 18th. Ventum Cap Mkts raised Propel to a “strong-buy” rating in a report on Tuesday, October 8th. Canaccord Genuity Group upgraded Propel to a “strong-buy” rating in a research note on Friday, October 4th. Ventum Financial set a C$38.00 target price on shares of Propel and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Stephens raised shares of Propel to a “strong-buy” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating, one has given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $41.00.

Propel Stock Performance

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

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

Propel Increases Dividend

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

Insider Activity at Propel

In related news, Senior Officer Cindy Usprech sold 859 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $38.30, for a total value of $32,899.70. Also, Director Clive Kinross sold 30,000 shares of the firm’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. Over the last quarter, 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.