Element Fleet Management (TSE:EFN) Stock Gets Price Target Reduction from National Bank Financial

Element Fleet Management (TSE:EFN) had its price target lowered by equities researchers at National Bank Financial from C$35.00 to C$30.00 in a research note issued on Thursday, BayStreet reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. National Bank Financial‘s price objective indicates a potential upside of 53.85% from the company’s previous close.

Several other research firms have also commented on EFN. Scotia cut their target price 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 note on Monday, October 26th. RBC Dominion Securities reduced their target price 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. Raymond James Financial decreased their price target on shares of Element Fleet Management from C$42.00 to C$32.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 6th. TD cut Element Fleet Management from a “buy” rating to a “hold” rating and dropped their price target for the company from C$31.00 to C$22.00 in a report on Wednesday. Finally, TD Securities downgraded Element Fleet Management from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Element Fleet Management presently has an average rating of “Moderate Buy” and an average target price of C$32.86.

Element Fleet Management Price Performance

Element Fleet Management stock traded down C$0.47 during midday trading on Thursday, hitting C$19.50. The company’s stock had a trading volume of 2,219,054 shares, compared to its average volume of 1,192,770. Element Fleet Management has a 12 month low of C$19.39 and a 12 month high of C$38.00. The company has a quick ratio of 5.70, a current ratio of -1,737.58 and a debt-to-equity ratio of 3.35. The company has a market capitalization of C$7.63 billion, a PE ratio of 26.35, a price-to-earnings-growth ratio of 2.97 and a beta of 0.60. The stock’s 50-day moving average price is C$23.42 and its 200-day moving average price is C$28.86.

Element Fleet Management (TSE:EFN) last posted its quarterly earnings data on Tuesday, November 3rd. The financial services provider reported C$0.50 earnings per share for the quarter. The company had revenue of C$456.57 million during the quarter. Element Fleet Management had a net margin of 12.29% and a return on equity of 10.87%. Analysts anticipate that Element Fleet Management will post 1.69 earnings per share for the current fiscal year.

Insider Activity at Element Fleet Management

In other news, insider Jose Manuel Tamayo purchased 2,343 shares of the business’s stock in a transaction dated Wednesday, September 16th. The shares were acquired at an average price of C$24.75 per share, for a total transaction of C$57,989.25. Following the completion of the acquisition, the insider directly owned 3,844 shares of the company’s stock, valued at C$95,139. The trade was a 156.10% increase in their ownership of the stock. Also, insider Jacob Eisenberg sold 90,855 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were 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. This represents a 58.33% decrease in their position. Company 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.