Propel (TSE:PRL) Shares Cross Above 50 Day Moving Average – Time to Sell?

Propel Holdings Inc. (TSE:PRL)’s stock price passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $24.86 and traded as high as $25.07. Propel shares last traded at $25.07, with a volume of 185,667 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. ATB Cormark Capital Markets upped their price objective on shares of Propel from C$29.00 to C$38.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Scotia boosted their price target on shares of Propel from C$27.00 to C$29.00 and gave the stock a “sector perform” rating in a research note on Friday, August 7th. TD Securities upgraded Propel to a “strong-buy” rating in a research report on Tuesday, July 14th. Raymond James Financial upgraded shares of Propel from a “moderate buy” rating to a “strong-buy” rating and increased their target price for the stock from C$31.00 to C$38.00 in a report on Thursday, August 6th. Finally, Ventum raised their target price on shares of Propel from C$30.00 to C$34.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Propel Trading Up 2.5%

The company has a market cap of $986.81 million, a P/E ratio of 18.30 and a beta of 0.88. The stock’s 50 day moving average is $24.86 and its 200-day moving average is $23.29.

Propel (TSE:PRL) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.08). Propel had a return on equity of 21.12% and a net margin of 8.81%. The firm had revenue of $179.60 million during the quarter, compared to analysts’ expectations of $251.89 million. As a group, sell-side analysts forecast that Propel Holdings Inc. will post 5.39 EPS for the current year.

Propel Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, September 3rd were given a dividend of $0.2550 per share. This represents a $1.02 annualized dividend and a yield of 4.1%. This is a positive change from Propel’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, August 14th. Propel’s dividend payout ratio (DPR) is presently 46.03%.

Insider Buying and Selling at Propel

In other Propel news, insider Cindy Usprech sold 9,196 shares of the company’s stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $25.86, for a total value of $237,808.56. 33.31% of the stock is owned by corporate 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).