Raymond James Financial Has Lowered Expectations for Element Fleet Management (TSE:EFN) Stock Price

Element Fleet Management (TSE:EFN) had its target price reduced by equities research analysts at Raymond James Financial from C$42.00 to C$32.00 in a note issued to investors on Tuesday, BayStreet reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Raymond James Financial’s price objective indicates a potential upside of 45.32% from the company’s previous close.

Element Fleet Management Trading Down 1.3%

Shares of TSE:EFN traded down C$0.30 during trading on Tuesday, reaching C$22.02. 642,257 shares of the company traded hands, compared to its average volume of 1,060,553. The company has a current ratio of -1,179.03, a quick ratio of 5.70 and a debt-to-equity ratio of 357.23. Element Fleet Management has a 52-week low of C$21.80 and a 52-week high of C$38.26. The firm has a market capitalization of C$8.62 billion, a price-to-earnings ratio of 29.76, a P/E/G ratio of 2.97 and a beta of 0.60. The business’s fifty day moving average is C$26.73 and its 200-day moving average is C$28.58.

Element Fleet Management (TSE:EFN) last issued its 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 company had revenue of C$451.94 million for the quarter. As a group, analysts forecast that Element Fleet Management will post 1.6884016 EPS for the current year.

Insider Activity

In other news, insider Jose Manuel Tamayo bought 2,343 shares of the company’s stock in a transaction dated Wednesday, September 16th. The stock was bought at an average cost of C$24.75 per share, for a total transaction of C$57,989.25. Following the completion of the acquisition, the insider owned 3,844 shares in the company, valued at approximately C$95,139. This trade represents a 156.10% increase in their position. Also, insider Jacob Eisenberg sold 90,855 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of C$26.26, for a total value of C$2,385,852.30. Following the completion of the sale, the insider directly 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.