National Bankshares Raises Element Fleet Management (TSE:EFN) Price Target to C$34.00

Element Fleet Management (TSE:EFN) had its price target lifted by National Bankshares from C$33.00 to C$34.00 in a research note released on Wednesday, BayStreet.CA reports. They currently have an outperform rating on the financial services provider’s stock.

A number of other analysts also recently issued reports on EFN. BMO Capital Markets raised their price target on Element Fleet Management from C$26.00 to C$28.00 in a research report on Thursday, May 16th. Jefferies Financial Group upped their price target on shares of Element Fleet Management from C$28.00 to C$31.00 and gave the company a buy rating in a report on Tuesday, July 30th. Royal Bank of Canada raised their price objective on shares of Element Fleet Management from C$33.00 to C$35.00 and gave the stock an outperform rating in a research note on Wednesday. CIBC upped their target price on Element Fleet Management from C$28.00 to C$30.00 and gave the company an outperform rating in a research note on Monday, July 29th. Finally, TD Securities raised their price target on Element Fleet Management from C$27.00 to C$28.00 and gave the stock a buy rating in a research note on Wednesday, May 15th. One analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Element Fleet Management currently has an average rating of Moderate Buy and a consensus price target of C$31.25.

Element Fleet Management Stock Performance

Shares of TSE:EFN opened at C$27.29 on Wednesday. The firm has a fifty day simple moving average of C$25.44 and a two-hundred day simple moving average of C$23.62. The company has a quick ratio of 5.70, a current ratio of 8.32 and a debt-to-equity ratio of 315.13. The stock has a market capitalization of C$10.61 billion, a P/E ratio of 22.37, a PEG ratio of 2.97 and a beta of 0.90. Element Fleet Management has a 52 week low of C$18.50 and a 52 week high of C$27.44.

Element Fleet Management (TSE:EFN) last issued its quarterly earnings data on Tuesday, May 14th. The financial services provider reported C$0.36 earnings per share for the quarter, topping the consensus estimate of C$0.31 by C$0.05. The company had revenue of C$353.83 million for the quarter, compared to analysts’ expectations of C$333.85 million. Element Fleet Management had a return on equity of 12.40% and a net margin of 23.30%. On average, analysts expect that Element Fleet Management will post 1.5701107 earnings per share for the current fiscal year.

Element Fleet Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.76%. The ex-dividend date is Friday, September 27th. Element Fleet Management’s payout ratio is 39.34%.

Insider Activity

In related news, Senior Officer William Sutherland bought 4,000 shares of the company’s stock in a transaction on Tuesday, June 18th. The shares were acquired at an average price of C$24.90 per share, with a total value of C$99,594.00. In other news, Senior Officer William Sutherland bought 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was bought at an average price of C$24.90 per share, with a total value of C$99,594.00. Also, Director George Keith Graham sold 25,000 shares of Element Fleet Management stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of C$24.70, for a total transaction of C$617,500.00. In the last quarter, insiders acquired 5,550 shares of company stock worth $132,034 and sold 68,874 shares worth $1,714,350. Company insiders own 0.22% of the company’s stock.

Element Fleet Management Company Profile

Element Fleet Management Corp. operates as a fleet management company primarily in Canada, Mexico, Australia, and New Zealand. The company offers end-to-end fleet cars, trucks, and material handling support equipment acquisition; and end-to-end electric vehicle fleet including fleet planning, charging infrastructure solutions, acquisition, financing, maintenance, and remarketing.