Element Fleet Management (TSE:EFN) Given New C$30.00 Price Target at National Bank Financial

Key Points

• National Bank Financial lowered its price target on Element Fleet Management from C$35 to C$30 but maintained an “outperform” rating; the new target implies 53.85% upside from the then-current price.
• Analyst views remain generally positive: MarketBeat reported a “Moderate Buy” consensus and an average target of C$32.86, though TD cut its rating to “hold.”
• Shares traded at C$19.50 on Thursday, near their one-year low of C$19.39. The company reported quarterly EPS of C$0.50 and revenue of C$456.57 million.

Element Fleet Management (TSE:EFN - Get Free Report) had its target price dropped by analysts at National Bank Financial from C$35.00 to C$30.00 in a report issued on Thursday, BayStreet reports. The firm currently has an "outperform" rating on the financial services provider's stock. National Bank Financial's price target suggests a potential upside of 53.85% from the stock's current price.

Several other analysts have also recently commented on the company. RBC Dominion Securities lowered their target price on 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. TD lowered Element Fleet Management from a "buy" rating to a "hold" rating and reduced their price target for the stock from C$31.00 to C$22.00 in a research report on Wednesday. Scotia decreased their price target on Element Fleet Management from C$41.00 to C$32.00 and set a "sector outperform" rating for the company in a research note on Monday, October 26th. Raymond James Financial decreased their price target on Element Fleet Management from C$42.00 to C$32.00 and set an "outperform" rating for the company in a research note on Tuesday, October 6th. Finally, TD Securities cut shares of Element Fleet Management from a "strong-buy" rating to a "hold" rating in a research note on Wednesday. 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 has a consensus rating of "Moderate Buy" and an average target price of C$32.86.

Element Fleet Management Stock Performance

TSE EFN traded down C$0.47 on Thursday, hitting C$19.50. The stock had a trading volume of 2,219,054 shares, compared to its average volume of 1,192,770. Element Fleet Management has a one year low of C$19.39 and a one year high of C$38.00. The company has a quick ratio of 5.70, a current ratio of -1,737.58 and a debt-to-equity ratio of 3.35. The stock has a market cap of C$7.63 billion, a price-to-earnings ratio of 26.35, a P/E/G ratio of 2.97 and a beta of 0.60. The company's 50-day moving average is C$23.42 and its two-hundred day moving average is C$28.86.

Element Fleet Management (TSE:EFN - Get Free Report) last released its quarterly earnings results on Tuesday, November 3rd. The financial services provider reported C$0.50 earnings per share for the quarter. The company 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%. On average, analysts expect that Element Fleet Management will post 1.69 earnings per share for the current year.

Insider Activity at Element Fleet Management

In related news, insider Jose Manuel Tamayo acquired 2,343 shares of the stock in a transaction that occurred on Wednesday, September 16th. The shares were acquired at an average price 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 C$95,139. The trade was a 156.10% increase in their ownership of the stock. Also, insider Jacob Eisenberg sold 90,855 shares of the firm'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 transaction, the insider owned 64,897 shares in the company, valued at C$1,704,195.22. This represents a 58.33% decrease 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.

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