Propel (TSE:PRL) Hits New 52-Week High – Here’s What Happened

Propel Holdings Inc. (TSE:PRL) shares hit a new 52-week high on Wednesday . The company traded as high as $37.98 and last traded at $37.59, with a volume of 2900 shares changing hands. The stock had previously closed at $36.78.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Ventum Cap Mkts raised Propel to a “strong-buy” rating in a research report on Tuesday, October 8th. Canaccord Genuity Group raised shares of Propel to a “strong-buy” rating in a research note on Friday, October 4th. Scotiabank upgraded Propel from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from C$28.00 to C$34.00 in a report on Friday, October 4th. Finally, Ventum Financial set a C$38.00 target price on Propel and gave the company a “buy” rating in a research note on Wednesday, October 9th.

Propel Trading Up 0.5 %

The company has a 50-day simple moving average of $30.89 and a 200 day simple moving average of $24.58. The firm has a market cap of $1.27 billion, a PE ratio of 26.34 and a beta of 1.75.

Propel (TSE:PRL) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. Propel had a net margin of 10.17% and a return on equity of 36.84%. The firm had revenue of $146.06 million for the quarter, compared to analysts’ expectations of $137.00 million. On average, equities analysts expect that Propel Holdings Inc. will post 5.3923205 earnings per share for the current year.

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.