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

Element Fleet Management Corp. (TSE:EFN)’s share price hit a new 52-week low on Wednesday after National Bank Financial lowered their price target on the stock from C$35.00 to C$30.00. National Bank Financial currently has an outperform rating on the stock. Element Fleet Management traded as low as C$19.56 and last traded at C$20.05, with a volume of 651,400 shares. The stock had previously closed at C$22.42.

Several other research analysts also recently commented on EFN. TD Securities downgraded shares of Element Fleet Management from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Scotia lowered their price target on shares of Element Fleet Management from C$41.00 to C$32.00 and set a “sector outperform” rating for the company in a report on Monday, October 26th. TD cut Element Fleet Management from a “buy” rating to a “hold” rating and dropped their price target for the company from C$31.00 to C$22.00 in a research note on Wednesday. RBC Dominion Securities dropped their price target 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. Finally, Raymond James Financial cut their price objective 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. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$32.86.

Insider Buying and Selling

In other Element Fleet Management news, insider Jose Manuel Tamayo purchased 2,343 shares of the firm’s stock in a transaction on 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 owned 3,844 shares in the company, valued at C$95,139. The trade was a 156.10% increase in their position. Also, insider Jacob Eisenberg sold 90,855 shares of the company’s stock in a transaction that occurred 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 trade represents a 58.33% decrease in their ownership of the stock. Insiders own 0.26% of the company’s stock.

Element Fleet Management Price Performance

The business has a 50-day simple moving average of C$23.27 and a 200 day simple moving average of C$28.78. The stock has a market cap of C$7.62 billion, a P/E ratio of 26.53, a price-to-earnings-growth ratio of 2.97 and a beta of 0.57. The company has a current ratio of -1,737.58, a quick ratio of 5.70 and a debt-to-equity ratio of 3.35.

Element Fleet Management (TSE:EFN) last issued its quarterly earnings data on Tuesday, November 3rd. The financial services provider reported C$0.50 earnings per share (EPS) for the quarter. The company had revenue of C$456.57 million during the quarter. Element Fleet Management had a return on equity of 10.87% and a net margin of 12.29%. On average, analysts forecast that Element Fleet Management Corp. will post 1.69 earnings per share for the current year.

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.