Element Fleet Management (TSE:EFN) Stock Gets Downgrade from TD Securities

Element Fleet Management (TSE:EFN) was downgraded by research analysts at TD Securities from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday, Zacks reports.

Several other equities research analysts also recently issued reports on EFN. RBC Dominion Securities dropped their price objective on Element Fleet Management from C$40.00 to C$33.00 and set an “outperform” rating on the stock in a report on Thursday, October 15th. National Bank Financial decreased their price target on shares of Element Fleet Management from C$50.00 to C$35.00 and set an “outperform” rating for the company in a research report on Wednesday, October 28th. Raymond James Financial decreased 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 research report on Tuesday, October 6th. TD lowered shares of Element Fleet Management from a “buy” rating to a “hold” rating and dropped their price target for the stock from C$31.00 to C$22.00 in a research note on Wednesday. Finally, Scotia cut their price target on shares of Element Fleet Management from C$41.00 to C$32.00 and set a “sector outperform” rating on the stock in a report on Monday, October 26th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$33.57.

Element Fleet Management Stock Down 10.9%

Shares of Element Fleet Management stock opened at C$19.97 on Wednesday. The business has a 50-day moving average of C$23.42 and a 200-day moving average of C$28.86. The company has a debt-to-equity ratio of 3.35, a current ratio of -1,737.58 and a quick ratio of 5.70. The company has a market capitalization of C$7.81 billion, a PE ratio of 26.99, a P/E/G ratio of 2.97 and a beta of 0.60. Element Fleet Management has a 1-year low of C$19.39 and a 1-year high of C$38.00.

Element Fleet Management (TSE:EFN) last released 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 for the quarter. Element Fleet Management had a return on equity of 10.87% and a net margin of 12.29%. As a group, equities analysts forecast that Element Fleet Management will post 1.69 EPS for the current fiscal year.

Insider Buying and Selling at Element Fleet Management

In other news, 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. The trade was a 58.33% decrease in their ownership of the stock. Also, insider Jose Manuel Tamayo purchased 2,343 shares of the stock in a transaction dated Wednesday, September 16th. The shares were purchased at an average price of C$24.75 per share, with a total value of C$57,989.25. Following the transaction, 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 owned by company insiders.

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.