Element Fleet Management (TSE:EFN) Cut to “Hold” at TD

TD lowered shares of Element Fleet Management (TSE:EFN) from a buy rating to a hold rating in a research report report published on Wednesday morning,BayStreet reports. They currently have C$22.00 price target on the financial services provider’s stock, down from their prior price target of C$31.00.

A number of other research analysts also recently weighed in on the stock. 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 research 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 for the company in a research note on Tuesday, October 6th. National Bank Financial lowered their price target on shares of Element Fleet Management from C$50.00 to C$35.00 and set an “outperform” rating on the stock in a report on Wednesday, October 28th. Finally, Scotia dropped their price objective on Element Fleet Management from C$41.00 to C$32.00 and set a “sector outperform” rating on the stock in a research note on Monday, October 26th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$32.86.

Element Fleet Management Stock Performance

Shares of TSE:EFN traded up C$0.62 during midday trading on Wednesday, reaching C$20.08. The company had a trading volume of 2,768,633 shares, compared to its average volume of 1,209,130. The company’s 50 day moving average price is C$23.15 and its 200 day moving average price is C$28.71. The company has a current ratio of -1,737.58, a quick ratio of 5.70 and a debt-to-equity ratio of 359.10. The stock has a market cap of C$7.80 billion, a P/E ratio of 27.14, a P/E/G ratio of 2.97 and a beta of 0.57. Element Fleet Management has a 52-week low of C$19.11 and a 52-week high of C$38.00.

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 (EPS) for the quarter. Element Fleet Management had a net margin of 12.29% and a return on equity of 10.87%. The business had revenue of C$456.57 million during the quarter. As a group, sell-side analysts anticipate that Element Fleet Management will post 1.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other Element Fleet Management news, insider Jacob Eisenberg sold 90,855 shares of the 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 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 ownership of the stock. Also, insider Jose Manuel Tamayo purchased 2,343 shares of the business’s stock in a transaction dated 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 completion of 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.

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.