Element Fleet Management Corp (TSE:EFN) Downgraded to Neutral at Credit Suisse Group
Element Fleet Management Corp (TSE:EFN) was downgraded by equities research analysts at Credit Suisse Group from an “outperform” rating to a “neutral” rating in a report released on Friday, StockTargetPrices.com reports.
A number of other equities research analysts have also commented on EFN. National Bank Financial set a C$11.50 price objective on shares of Element Fleet Management Corp in a research note on Tuesday. CSFB reduced their price objective on shares of Element Fleet Management Corp from C$14.50 to C$13.00 and set an “outperform” rating on the stock in a research note on Monday, July 31st. Raymond James Financial, Inc. reduced their price objective on shares of Element Fleet Management Corp from C$17.00 to C$16.00 and set a “strong-buy” rating on the stock in a research note on Thursday, May 11th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Element Fleet Management Corp in a research note on Wednesday, June 28th. Finally, Barclays PLC reduced their price objective on shares of Element Fleet Management Corp from C$18.00 to C$15.00 in a research note on Monday, May 15th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Element Fleet Management Corp presently has a consensus rating of “Buy” and a consensus price target of C$13.70.
Element Fleet Management Corp (TSE:EFN) traded down 3.53% during midday trading on Friday, reaching $8.20. 2,412,948 shares of the company’s stock traded hands. Element Fleet Management Corp has a 1-year low of $6.20 and a 1-year high of $16.57. The firm has a market cap of $3.19 billion and a price-to-earnings ratio of 9.88. The stock’s 50 day moving average price is $9.17 and its 200 day moving average price is $11.38.
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In related news, insider James Halliday bought 13,160 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The shares were acquired at an average cost of C$9.50 per share, with a total value of C$125,020.00. Also, insider Samir Michael Zabaneh bought 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 21st. The shares were bought at an average cost of C$9.10 per share, for a total transaction of C$109,200.00. Over the last three months, insiders have purchased 45,160 shares of company stock worth $426,020.
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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