Propel Holdings Inc (PRL) Receives a Rating Update from a Top Analyst

Scotiabank analyst Phil Hardie maintained a Buy rating on Propel Holdings Inc (PRL – Research Report) on May 7 and set a price target of C$38.00. The company’s shares closed last Friday at C$32.17.

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According to TipRanks, Hardie is a top 25 analyst with an average return of 15.5% and an 80.81% success rate. Hardie covers the Financial sector, focusing on stocks such as goeasy, IGM Financial, and Fairfax Financial Holdings.

Currently, the analyst consensus on Propel Holdings Inc is a Strong Buy with an average price target of C$43.80, which is a 36.15% upside from current levels. In a report released on May 8, Raymond James also maintained a Buy rating on the stock with a C$46.00 price target.

Based on Propel Holdings Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of C$119.56 million and a net profit of C$11.61 million. In comparison, last year the company earned a revenue of C$90.18 million and had a net profit of C$8.48 million

Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PRL in relation to earlier this year.