Element Fleet Management (TSE:EFN) Stock Rating Lowered by TD

Element Fleet Management (TSE:EFN) was downgraded by stock analysts at TD from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, BayStreet reports. They currently have a C$22.00 price objective on the financial services provider’s stock, down from their prior price objective of C$31.00. TD‘s price target would suggest a potential upside of 8.80% from the company’s current price.

Other analysts have also recently issued reports about the company. Scotia cut their price objective on Element Fleet Management from C$41.00 to C$32.00 and set a “sector outperform” rating for the company in a research report on Monday, October 26th. Raymond James Financial decreased their target price on 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. RBC Dominion Securities dropped their price target on Element Fleet Management from C$40.00 to C$33.00 and set an “outperform” rating on the stock in a research note on Thursday, October 15th. Finally, National Bank Financial cut their price target on Element Fleet Management from C$50.00 to C$35.00 and set an “outperform” rating for the company in a report on Wednesday, October 28th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$33.57.

Element Fleet Management Stock Performance

Shares of EFN stock traded down C$2.20 on Wednesday, reaching C$20.22. The stock had a trading volume of 4,388,081 shares, compared to its average volume of 1,179,431. The company has a quick ratio of 5.70, a current ratio of -1,179.03 and a debt-to-equity ratio of 357.23. The firm’s 50-day moving average is C$23.57 and its two-hundred day moving average is C$28.93. The firm has a market capitalization of C$7.91 billion, a price-to-earnings ratio of 27.32, a P/E/G ratio of 2.97 and a beta of 0.60. Element Fleet Management has a 12 month low of C$19.39 and a 12 month high of C$38.00.

Element Fleet Management (TSE:EFN) last posted its quarterly earnings results on Tuesday, November 3rd. The financial services provider reported C$0.50 EPS for the quarter. The business had revenue of C$456.57 million during the quarter. Element Fleet Management had a return on equity of 10.57% and a net margin of 12.17%. On average, research analysts expect that Element Fleet Management will post 1.69 EPS for the current fiscal year.

Insider Activity at Element Fleet Management

In other news, insider Jacob Eisenberg sold 90,855 shares of the business’s 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 completion of the sale, the insider owned 64,897 shares in the company, valued at C$1,704,195.22. The trade was a 58.33% decrease in their ownership of the stock. Also, insider Jose Manuel Tamayo bought 2,343 shares of the firm’s stock in a transaction dated Wednesday, September 16th. The stock was purchased at an average cost of C$24.75 per share, for a total transaction of C$57,989.25. Following the transaction, the insider directly owned 3,844 shares of the company’s stock, valued at C$95,139. The trade was a 156.10% increase in their position. Company 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.