Element Fleet Management (TSE:EFN) Stock Price Target Lowered at TD

Element Fleet Management (TSE:EFN) had its price target dropped by research analysts at TD from C$38.00 to C$31.00 in a note issued to investors on Monday, BayStreet reports. The firm presently has a “buy” rating on the financial services provider’s stock. TD’s price objective would indicate a potential upside of 45.20% from the stock’s current price.

A number of other analysts have also issued reports on the stock. Raymond James Financial dropped their price target on shares of Element Fleet Management from C$42.00 to C$32.00 and set an “outperform” rating for the company in a research note on Tuesday, October 6th. RBC Dominion Securities cut their price target on shares of Element Fleet Management from C$40.00 to C$33.00 and set an “outperform” rating on the stock in a report on Thursday. Eight analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of C$38.88.

Element Fleet Management Trading Down 0.8%

EFN stock traded down C$0.18 during midday trading on Monday, reaching C$21.35. 1,287,235 shares of the company’s stock traded hands, compared to its average volume of 1,111,098. The company has a market capitalization of C$8.35 billion, a P/E ratio of 28.85, a PEG ratio of 2.97 and a beta of 0.60. The company has a debt-to-equity ratio of 357.23, a current ratio of -1,179.03 and a quick ratio of 5.70. Element Fleet Management has a fifty-two week low of C$20.39 and a fifty-two week high of C$38.26. The business has a 50-day moving average price of C$25.02 and a two-hundred day moving average price of C$28.01.

Element Fleet Management (TSE:EFN) last issued its earnings results on Wednesday, August 5th. The financial services provider reported C$0.48 earnings per share for the quarter. The company had revenue of C$451.94 million during the quarter. Element Fleet Management had a return on equity of 10.57% and a net margin of 12.17%. Equities research analysts forecast that Element Fleet Management will post 1.69 EPS for the current fiscal year.

Insider Buying and Selling

In other Element Fleet Management news, insider Jacob Eisenberg sold 90,855 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of C$26.26, for a total transaction of C$2,385,852.30. Following the completion of the transaction, the insider owned 64,897 shares in the company, valued at approximately C$1,704,195.22. The trade was a 58.33% decrease in their position. Also, insider Jose Manuel Tamayo acquired 2,343 shares of Element Fleet Management stock in a transaction that occurred on Wednesday, September 16th. The stock was bought at an average cost of C$24.75 per share, with a total value of C$57,989.25. Following the acquisition, the insider directly owned 3,844 shares of the company’s stock, valued at approximately C$95,139. This trade represents a 156.10% increase in their ownership of the stock. Insiders own 0.26% of the company’s stock.

About Element Fleet Management

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.