Element Fleet Management (TSE:EFN) Stock Rating Cut to Hold at TD

Element Fleet Management (TSE:EFN) was downgraded by research analysts at TD from a “buy” rating to a “hold” rating in a research note issued on Wednesday, BayStreet reports. They presently have a C$22.00 price objective on the financial services provider’s stock, down from their previous price objective of C$31.00. TD‘s price objective indicates a potential upside of 8.80% from the stock’s current price.

A number of other equities research analysts also recently weighed in on EFN. Scotia dropped their price target 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 report on Monday, October 26th. RBC Dominion Securities reduced their price target on Element Fleet Management from C$40.00 to C$33.00 and set an “outperform” rating on the stock in a research report on Thursday, October 15th. National Bank Financial lowered their price objective on 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. Finally, Raymond James Financial dropped their price objective on Element Fleet Management from C$42.00 to C$32.00 and set an “outperform” rating for the company in a report on Tuesday, October 6th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$33.57.

Element Fleet Management Stock Performance

Element Fleet Management stock traded down C$2.20 during midday trading on Wednesday, hitting C$20.22. The company’s stock had a trading volume of 4,388,081 shares, compared to its average volume of 1,179,431. Element Fleet Management has a 1-year low of C$19.39 and a 1-year high of C$38.00. The company has a debt-to-equity ratio of 357.23, a current ratio of -1,179.03 and a quick ratio of 5.70. The company has a 50-day moving average price of C$23.57 and a two-hundred day moving average price of C$28.93. The company has a market cap of C$7.91 billion, a price-to-earnings ratio of 27.32, a PEG ratio of 2.97 and a beta of 0.60.

Element Fleet Management (TSE:EFN) last announced its earnings results on Tuesday, November 3rd. The financial services provider reported C$0.50 earnings per share (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$456.57 million for the quarter. As a group, sell-side analysts predict that Element Fleet Management will post 1.69 earnings per share for the current year.

Insider Activity

In other news, insider Jose Manuel Tamayo acquired 2,343 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The stock was acquired at an average price of C$24.75 per share, with a total value 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. Also, insider Jacob Eisenberg sold 90,855 shares of the stock in a transaction dated 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 sale, the insider owned 64,897 shares in the company, valued at C$1,704,195.22. The trade was a 58.33% decrease in their ownership of the stock. Corporate insiders own 0.26% of the company’s stock.

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.