Element Fleet Management (TSE:EFN) Stock Price Target Lowered at National Bank Financial

Element Fleet Management (TSE:EFN) had its price target reduced by analysts at National Bank Financial from C$50.00 to C$35.00 in a note issued to investors on Wednesday, BayStreet reports. The firm currently has an “outperform” rating on the financial services provider’s stock. National Bank Financial‘s price objective suggests a potential upside of 53.98% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. TD reduced their target price on shares of Element Fleet Management from C$38.00 to C$31.00 and set a “buy” rating for the company in a report on Monday, October 19th. Raymond James Financial lowered their price target on shares of Element Fleet Management from C$42.00 to C$32.00 and set an “outperform” rating on the stock in a report on Tuesday, October 6th. Scotia cut their price target on Element Fleet Management from C$41.00 to C$32.00 and set a “sector outperform” rating on the stock in a research report on Monday. Finally, RBC Dominion Securities reduced their price objective on Element Fleet Management from C$40.00 to C$33.00 and set an “outperform” rating for the company in a research note on Thursday, October 15th. Eight investment analysts have rated the stock with a Buy rating. According to MarketBeat, Element Fleet Management has an average rating of “Buy” and a consensus price target of C$35.75.

Element Fleet Management Stock Performance

EFN traded up C$0.93 during trading on Wednesday, reaching C$22.73. 1,714,220 shares of the company’s stock were exchanged, compared to its average volume of 1,150,596. 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 1 year low of C$20.39 and a 1 year high of C$38.19. The company’s fifty day simple moving average is C$24.11 and its 200-day simple moving average is C$29.25. The stock has a market capitalization of C$8.89 billion, a P/E ratio of 30.72, a price-to-earnings-growth ratio of 2.97 and a beta of 0.60.

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

Insider Activity at Element Fleet Management

In other news, insider Jose Manuel Tamayo bought 2,343 shares of the business’s stock in a transaction dated Wednesday, September 16th. The stock was purchased 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 in the company, valued at C$95,139. This trade represents a 156.10% increase in their ownership of the stock. Also, insider Jacob Eisenberg sold 90,855 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were 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 of the company’s stock, valued at approximately C$1,704,195.22. This represents a 58.33% decrease in their ownership of the stock. Corporate 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.