Element Fleet Management (TSE:EFN) Rating Lowered to “Hold” at TD Securities

Element Fleet Management (TSE:EFN) was downgraded by research analysts at TD Securities from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday, Zacks reports.

Other research analysts have also recently issued research reports about the company. Scotia decreased their price target on 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. National Bank Financial cut their price objective on shares of Element Fleet Management from C$50.00 to C$35.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 28th. 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 report on Thursday, October 15th. TD lowered shares of Element Fleet Management from a “buy” rating to a “hold” rating and decreased their target price for the company from C$31.00 to C$22.00 in a research report on Wednesday. Finally, Raymond James Financial decreased 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 report on Tuesday, October 6th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$33.57.

Element Fleet Management Stock Performance

Shares of EFN stock opened at C$19.97 on Wednesday. Element Fleet Management has a 12-month low of C$19.39 and a 12-month high of C$38.00. The firm has a market capitalization of C$7.81 billion, a price-to-earnings ratio of 26.99, a price-to-earnings-growth ratio of 2.97 and a beta of 0.60. The business has a 50 day simple moving average of C$23.42 and a 200 day simple moving average of C$28.86. The company has a debt-to-equity ratio of 3.35, a current ratio of -1,737.58 and a quick ratio of 5.70.

Element Fleet Management (TSE:EFN) last posted its earnings results on Tuesday, November 3rd. The financial services provider reported C$0.50 EPS for the quarter. Element Fleet Management had a return on equity of 10.87% and a net margin of 12.29%. The firm had revenue of C$456.57 million for the quarter. On average, equities research analysts anticipate that Element Fleet Management will post 1.69 EPS for the current year.

Insider Activity

In other Element Fleet Management news, insider Jacob Eisenberg sold 90,855 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of C$26.26, for a total value of C$2,385,852.30. Following the sale, the insider directly 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 business’s stock in a transaction on Wednesday, September 16th. The stock was acquired at an average cost of C$24.75 per share, with a total value of C$57,989.25. Following the completion of the acquisition, the insider directly owned 3,844 shares in the company, valued at C$95,139. The trade was a 156.10% increase in their position. 0.26% of the stock is currently owned by 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.