Element Fleet Management (TSE:EFN) Upgraded at Scotiabank

Element Fleet Management (TSE:EFN) was upgraded by research analysts at Scotiabank from a “sector perform” rating to an “outperform” rating in a research note issued to investors on Tuesday, BayStreet.CA reports. The brokerage currently has a C$26.00 target price on the financial services provider’s stock. Scotiabank’s target price suggests a potential upside of 18.18% from the stock’s current price.

Several other equities research analysts have also recently commented on the company. BMO Capital Markets boosted their target price on Element Fleet Management from C$24.00 to C$26.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Royal Bank of Canada boosted their target price on Element Fleet Management from C$30.00 to C$31.00 and gave the stock an “outperform” rating in a report on Thursday, January 4th. Veritas Investment Research reissued a “reduce” rating on shares of Element Fleet Management in a report on Thursday, February 29th. CIBC upped their price target on Element Fleet Management from C$24.00 to C$25.00 and gave the company an “outperform” rating in a report on Wednesday, February 28th. Finally, TD Securities upped their price target on Element Fleet Management from C$25.00 to C$27.00 and gave the company a “buy” rating in a report on Thursday, February 29th. One analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Element Fleet Management has a consensus rating of “Moderate Buy” and an average price target of C$27.63.

Element Fleet Management Stock Performance

Shares of TSE EFN traded up C$0.23 during midday trading on Tuesday, hitting C$22.00. 325,529 shares of the company’s stock were exchanged, compared to its average volume of 518,373. The company has a debt-to-equity ratio of 280.50, a current ratio of 6.78 and a quick ratio of 5.70. The stock’s 50 day moving average price is C$22.09 and its 200-day moving average price is C$21.60. The firm has a market cap of C$8.56 billion, a P/E ratio of 19.79, a PEG ratio of 2.97 and a beta of 0.84. Element Fleet Management has a twelve month low of C$17.13 and a twelve month high of C$23.46.

Element Fleet Management (TSE:EFN) last issued its quarterly earnings data on Tuesday, February 27th. The financial services provider reported C$0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.32 by C$0.01. The business had revenue of C$333.36 million during the quarter, compared to the consensus estimate of C$334.92 million. Element Fleet Management had a return on equity of 12.30% and a net margin of 23.38%. Equities research analysts anticipate that Element Fleet Management will post 1.4296824 EPS for the current year.

Insider Buying and Selling at Element Fleet Management

In other Element Fleet Management news, Senior Officer James Halliday sold 33,664 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of C$23.01, for a total transaction of C$774,608.64. In related news, Senior Officer Yu Xiang Jin purchased 2,500 shares of the stock in a transaction dated Monday, March 25th. The shares were acquired at an average cost of C$22.02 per share, for a total transaction of C$55,050.00. Also, Senior Officer James Halliday sold 33,664 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of C$23.01, for a total transaction of C$774,608.64. Company insiders own 0.24% 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.