CSFB Lowers Element Fleet Management Corp (EFN) to Neutral
Element Fleet Management Corp (TSE:EFN) was downgraded by stock analysts at CSFB from an “outperform” rating to a “neutral” rating in a note issued to investors on Friday. They currently have a C$10.50 target price on the financial services provider’s stock, down from their prior target price of C$13.00. CSFB’s target price indicates a potential upside of 23.53% from the stock’s current price.
Several other equities analysts also recently weighed in on EFN. Credit Suisse Group cut their target price on Element Fleet Management Corp from C$16.00 to C$14.50 in a research report on Thursday, May 11th. Barclays PLC dropped their price objective on Element Fleet Management Corp from C$15.00 to C$14.00 and set an “overweight” rating for the company in a report on Monday, May 8th. Royal Bank Of Canada cut Element Fleet Management Corp from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from C$16.00 to C$13.00 in a report on Monday, April 24th. TD Securities dropped their price objective on Element Fleet Management Corp from C$13.50 to C$11.00 and set a “hold” rating for the company in a report on Friday, July 28th. Finally, Scotiabank dropped their price objective on Element Fleet Management Corp from C$14.00 to C$13.00 and set a “sector perform” rating for the company in a report on Friday, June 2nd. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Element Fleet Management Corp presently has an average rating of “Hold” and an average target price of C$11.65.
Shares of Element Fleet Management Corp (TSE:EFN) traded down 4.94% on Friday, hitting $8.08. 2,884,235 shares of the stock were exchanged. The company has a 50 day moving average of $9.17 and a 200 day moving average of $11.38. Element Fleet Management Corp has a 52-week low of $6.20 and a 52-week high of $16.57. The company has a market cap of $3.14 billion and a price-to-earnings ratio of 9.73.
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In related news, insider Kristi Webb bought 20,000 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The stock was purchased at an average cost of C$9.59 per share, for a total transaction of C$191,800.00. Also, insider Samir Michael Zabaneh bought 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 21st. The stock was bought at an average price of C$9.10 per share, with a total value of C$109,200.00. Insiders bought 45,160 shares of company stock valued at $426,020 over the last ninety days.
Element Fleet Management Corp Company Profile
Element Financial Corporation is an independentfinancial services company that originates, co-invests in and manages asset-based financings with operations in Canada and the United States. The Company operates in four business verticals: Commercial and Vendor Finance, Aviation Finance, Fleet Management and Rail Finance.
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