Element Fleet Management (TSE:EFN) Hits New 52-Week Low After Analyst Downgrade

Shares of Element Fleet Management Corp. (TSE:EFN) hit a new 52-week low during trading on Tuesday after Raymond James Financial lowered their price target on the stock from C$42.00 to C$32.00. Raymond James Financial currently has an outperform rating on the stock. Element Fleet Management traded as low as C$21.80 and last traded at C$21.81, with a volume of 184225 shares changing hands. The stock had previously closed at C$22.32.

Insider Transactions at Element Fleet Management

In other news, insider Jose Manuel Tamayo acquired 2,343 shares of the firm’s stock in a transaction on Wednesday, September 16th. The stock was purchased at an average price of C$24.75 per share, for a total transaction of C$57,989.25. Following the purchase, the insider owned 3,844 shares in the company, valued at approximately C$95,139. This represents a 156.10% increase in their position. Also, insider Jacob Eisenberg sold 90,855 shares of Element Fleet Management stock in a transaction that occurred 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 transaction, the insider directly owned 64,897 shares in the company, valued at approximately C$1,704,195.22. This represents a 58.33% decrease in their position. Corporate insiders own 0.26% of the company’s stock.

Element Fleet Management Price Performance

The stock has a market cap of C$8.47 billion, a P/E ratio of 29.26, a P/E/G ratio of 2.97 and a beta of 0.60. The business has a 50 day simple moving average of C$26.32 and a 200-day simple moving average of C$28.45. The company has a debt-to-equity ratio of 357.23, a quick ratio of 5.70 and a current ratio of -1,179.03.

Element Fleet Management (TSE:EFN) last released its earnings results on Wednesday, August 5th. The financial services provider reported C$0.48 EPS for the quarter. The company had revenue of C$451.94 million for the quarter. Element Fleet Management had a return on equity of 10.57% and a net margin of 12.17%. On average, sell-side analysts forecast that Element Fleet Management Corp. will post 1.6884016 EPS for the current year.

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.