Scotiabank Has Lowered Expectations for Element Fleet Management (TSE:EFN) Stock Price

by · The Markets Daily

Element Fleet Management (TSE:EFN – Get Free Report) had its price objective lowered by equities research analysts at Scotiabank from C$33.00 to C$32.00 in a note issued to investors on Thursday,BayStreet.CA reports. Scotiabank’s price target suggests a potential upside of 18.52% from the company’s previous close.

Several other brokerages have also commented on EFN. National Bankshares upped their price objective on shares of Element Fleet Management from C$34.00 to C$37.00 in a report on Friday, September 27th. Raymond James raised their price target on Element Fleet Management from C$29.00 to C$30.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 14th. CIBC boosted their price objective on Element Fleet Management from C$30.00 to C$33.00 in a report on Thursday, October 31st. TD Securities raised their target price on Element Fleet Management from C$32.00 to C$33.00 and gave the company a “buy” rating in a report on Thursday. Finally, BMO Capital Markets increased their price target on shares of Element Fleet Management from C$28.00 to C$32.00 in a research report on Thursday, August 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 MarketBeat.com, Element Fleet Management currently has a consensus rating of “Moderate Buy” and a consensus price target of C$33.63.

Check Out Our Latest Stock Report on EFN

Element Fleet Management Trading Down 4.5 %

Shares of EFN traded down C$1.26 during mid-day trading on Thursday, reaching C$27.00. The stock had a trading volume of 999,959 shares, compared to its average volume of 539,419. The company has a debt-to-equity ratio of 303.14, a current ratio of 8.22 and a quick ratio of 5.70. The business’s fifty day moving average is C$28.68 and its 200 day moving average is C$26.22. Element Fleet Management has a 52-week low of C$20.55 and a 52-week high of C$30.04. The firm has a market cap of C$10.90 billion, a price-to-earnings ratio of 20.99, a P/E/G ratio of 2.97 and a beta of 0.91.

Element Fleet Management (TSE:EFN – Get Free Report) last posted its earnings results on Tuesday, August 13th. The financial services provider reported C$0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.37 by C$0.03. The company had revenue of C$375.68 million during the quarter, compared to analysts’ expectations of C$368.46 million. Element Fleet Management had a return on equity of 12.58% and a net margin of 23.41%. On average, sell-side analysts predict that Element Fleet Management will post 1.6884016 EPS for the current fiscal year.

Insider Buying and Selling at Element Fleet Management

In other news, Senior Officer Laura Lee Dottori-Attanasio bought 18,000 shares of Element Fleet Management stock in a transaction dated Thursday, September 5th. The stock was bought at an average price of C$27.67 per share, for a total transaction of C$498,074.40. Company insiders own 0.26% of the company’s stock.

About Element Fleet Management

(Get Free Report)

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.

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