Element Fleet Management (TSE:EFN) Stock Gets Price Target Trim from National Bank Financial

Element Fleet Management (TSE:EFN) had its price target cut by National Bank Financial from C$50.00 to C$35.00 in a research note published on Wednesday morning,BayStreet reports. They currently have an outperform rating on the financial services provider’s stock.

Several other equities analysts have also weighed in on EFN. RBC Dominion Securities reduced their price objective on shares of Element Fleet Management from C$40.00 to C$33.00 and set an “outperform” rating for the company in a research report on Thursday, October 15th. TD dropped their target price on shares of Element Fleet Management from C$38.00 to C$31.00 and set a “buy” rating on the stock in a report on Monday, October 19th. Raymond James Financial cut their target price on shares of Element Fleet Management from C$42.00 to C$32.00 and set an “outperform” rating for the company in a research note on Tuesday, October 6th. Finally, Scotia cut their target price on shares of Element Fleet Management from C$41.00 to C$32.00 and set a “sector outperform” rating for the company in a research note on Monday, October 26th. Eight investment analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, Element Fleet Management presently has an average rating of “Buy” and an average target price of C$34.86.

Element Fleet Management Trading Down 0.2%

Shares of EFN stock opened at C$21.86 on Wednesday. The stock has a 50-day simple moving average of C$23.78 and a 200 day simple moving average of C$29.06. Element Fleet Management has a fifty-two week low of C$20.39 and a fifty-two week high of C$38.19. The stock has a market capitalization of C$8.55 billion, a P/E ratio of 29.54, a P/E/G ratio of 2.97 and a beta of 0.60. The company has a quick ratio of 5.70, a current ratio of -1,179.03 and a debt-to-equity ratio of 357.23.

Element Fleet Management (TSE:EFN) last issued its quarterly earnings results on Wednesday, August 5th. The financial services provider reported C$0.48 EPS for the quarter. Element Fleet Management had a net margin of 12.17% and a return on equity of 10.57%. The firm had revenue of C$451.94 million for the quarter. On average, sell-side analysts expect that Element Fleet Management will post 1.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jacob Eisenberg sold 90,855 shares of Element Fleet Management stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of C$26.26, for a total transaction of C$2,385,852.30. Following the transaction, the insider owned 64,897 shares in the company, valued at approximately C$1,704,195.22. The trade was a 58.33% decrease in their ownership of the stock. Also, insider Jose Manuel Tamayo purchased 2,343 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The shares were acquired at an average cost of C$24.75 per share, for a total transaction of C$57,989.25. Following the completion of the transaction, the insider directly owned 3,844 shares of the company’s stock, valued at C$95,139. This trade represents a 156.10% increase in their position. 0.26% of the stock is owned by corporate insiders.

Element Fleet Management Company Profile

Element Fleet Management (TSX: EFN) is the largest publicly traded pure play automotive fleet manager in the world and a global leader in intelligent fleet and mobility solutions. Guided by our Purpose to Move the world through intelligent mobility, we help clients manage the vehicles, data, technology, and decisions that keep their businesses moving. Fleet is our foundation, and intelligent mobility is how we lead. By combining deep fleet expertise with connected technologies, data driven intelligence, and strategic partnerships, Element helps clients lower total cost of ownership, improve uptime and driver experience, and build more resilient operations.