ATB Cormark Capital Markets Has Lowered Expectations for Propel (TSE:PRL) Stock Price

Propel (TSE:PRL) had its target price decreased by stock analysts at ATB Cormark Capital Markets from C$38.00 to C$27.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. Raymond James Financial dropped their price target on shares of Propel from C$42.00 to C$35.00 in a research note on Wednesday, November 5th. Stifel Nicolaus set a C$38.00 price target on shares of Propel and gave the company a “buy” rating in a report on Thursday, December 4th. Ventum Financial reduced their price target on shares of Propel from C$4.00 to C$3.00 and set a “buy” rating for the company in a research report on Wednesday. Canaccord Genuity Group reduced their target price on Propel from C$37.00 to C$27.00 in a report on Wednesday. Finally, Scotiabank lowered their price target on Propel from C$40.00 to C$38.00 in a report on Wednesday, November 5th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy”.

Propel Stock Performance

Shares of PRL traded up $1.84 during mid-day trading on Wednesday, reaching $20.72. The company had a trading volume of 483,448 shares, compared to its average volume of 294,010. The company has a market capitalization of $815.41 million, a price-to-earnings ratio of 13.28 and a beta of 0.62. The firm has a 50-day moving average price of $23.85 and a 200 day moving average price of $26.05. Propel has a 52 week low of $17.50 and a 52 week high of $39.15.

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).