Raymond James Financial Issues Pessimistic Forecast for Propel (TSE:PRL) Stock Price

Propel (TSE:PRL) had its price target lowered by stock analysts at Raymond James Financial from C$32.00 to C$31.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock.

Several other brokerages also recently issued reports on PRL. Ventum Financial reduced their price objective on shares of Propel from C$4.00 to C$3.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. Canaccord Genuity Group reduced their price objective on shares of Propel from C$37.00 to C$27.00 in a research note on Wednesday, March 4th. ATB Cormark Capital Markets reduced their price objective on shares of Propel from C$38.00 to C$27.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 4th. Stifel Nicolaus reduced their price objective on shares of Propel from C$38.00 to C$32.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. Finally, Scotiabank downgraded shares of Propel from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the company from C$35.00 to C$27.00 in a research note on Tuesday, April 28th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Propel currently has an average rating of “Moderate Buy”.

Propel Price Performance

Shares of TSE PRL traded down $0.71 on Wednesday, hitting $24.03. The company’s stock had a trading volume of 200,801 shares, compared to its average volume of 287,664. Propel has a 12-month low of $17.24 and a 12-month high of $39.15. The company has a market capitalization of $945.89 million, a price-to-earnings ratio of 17.04 and a beta of 0.56. The stock has a 50 day moving average of $20.09 and a 200-day moving average of $22.73.

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).