TD Cuts Element Fleet Management (TSE:EFN) Price Target to C$38.00

Element Fleet Management (TSE:EFN) had its target price lowered by equities researchers at TD from C$41.00 to C$38.00 in a report released on Friday,BayStreet.CA reports. The firm currently has a “buy” rating on the financial services provider’s stock. TD’s target price suggests a potential upside of 35.67% from the stock’s previous close.

Several other research firms have also recently issued reports on EFN. Jefferies Financial Group upgraded Element Fleet Management from a “hold” rating to a “buy” rating in a research report on Monday, February 23rd. Royal Bank Of Canada set a C$47.00 price objective on Element Fleet Management and gave the stock an “outperform” rating in a research report on Monday, January 26th. Raymond James Financial cut Element Fleet Management from a “strong-buy” rating to an “outperform” rating and cut their price objective for the stock from C$42.50 to C$42.00 in a research report on Thursday. National Bank Financial increased their price objective on Element Fleet Management from C$48.00 to C$50.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Finally, TD Securities cut their price objective on Element Fleet Management from C$42.00 to C$41.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. Eight research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of C$41.88.

Element Fleet Management Stock Performance

Shares of Element Fleet Management stock traded down C$0.89 during trading hours on Friday, hitting C$28.01. 1,435,111 shares of the company were exchanged, compared to its average volume of 872,746. The stock has a market capitalization of C$11.12 billion, a price-to-earnings ratio of 40.59, a P/E/G ratio of 2.97 and a beta of 0.32. Element Fleet Management has a 1 year low of C$27.83 and a 1 year high of C$38.26. The business has a 50-day moving average of C$31.58 and a 200-day moving average of C$34.34. The company has a current ratio of 4.05, a quick ratio of 5.70 and a debt-to-equity ratio of 363.75.

Element Fleet Management (TSE:EFN) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported C$0.49 earnings per share (EPS) for the quarter. The firm had revenue of C$879.58 million during the quarter. Element Fleet Management had a net margin of 12.07% and a return on equity of 10.09%. As a group, analysts expect that Element Fleet Management will post 1.6884016 EPS for the current fiscal year.

About Element Fleet Management

Element Financial separated into two independent public companies in October 2016. The former company now consists of Element Fleet Management, a global fleet management company, and ECN Capital, a commercial finance company. Element Fleet Management provides management services and financing for commercial vehicle and equipment fleets. The company’s suite of fleet management services deals with acquisition and financing, to program management and remarketing. ECN Capital operates across North America in three verticals of the equipment finance market: commercial and vendor finance, rail finance, and commercial aviation finance.