Element Fleet Management (TSE:EFN) Reaches New 1-Year Low After Analyst Downgrade

Element Fleet Management Corp. (TSE:EFN)’s stock price hit a new 52-week low during mid-day trading on Monday after TD lowered their price target on the stock from C$38.00 to C$31.00. TD currently has a buy rating on the stock. Element Fleet Management traded as low as C$21.04 and last traded at C$21.06, with a volume of 154,915 shares trading hands. The stock had previously closed at C$21.53.

EFN has been the subject of a number of other reports. Raymond James Financial reduced 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 report on Tuesday, October 6th. RBC Dominion Securities decreased 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 research report on Thursday, October 15th. Eight investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat, Element Fleet Management has an average rating of “Buy” and an average price target of C$38.88.

Insiders Place Their Bets

In other news, insider Jacob Eisenberg sold 90,855 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of C$26.26, for a total value of C$2,385,852.30. Following the sale, the insider owned 64,897 shares of the company’s stock, valued at approximately C$1,704,195.22. This represents a 58.33% decrease in their position. Also, insider Jose Manuel Tamayo acquired 2,343 shares of the firm’s stock in a transaction on Wednesday, September 16th. The shares were purchased at an average cost of C$24.75 per share, for a total transaction of C$57,989.25. Following the completion of the purchase, the insider directly owned 3,844 shares of the company’s stock, valued at approximately C$95,139. The trade was a 156.10% increase in their position. 0.26% of the stock is currently owned by company insiders.

Element Fleet Management Trading Down 0.5%

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. The company has a market capitalization of C$8.33 billion, a price-to-earnings ratio of 28.76, a P/E/G ratio of 2.97 and a beta of 0.60. The business’s 50-day simple moving average is C$24.73 and its 200-day simple moving average is C$27.89.

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