Element Fleet Management (TSE:EFN) Given New C$33.00 Price Target at RBC Dominion Securities

Key Points

• RBC Dominion Securities cut Element Fleet Management’s price target to C$33.00 from C$40.00 while maintaining an “outperform” rating, implying 51.86% upside from the reported C$21.73 share price.
• Raymond James also lowered its target to C$32.00 but retained an “outperform” rating; analysts overall maintain a consensus “Buy” rating with an average target of C$39.75.
• The stock traded near its 52-week low, while recent results included C$0.48 quarterly EPS and C$451.94 million in revenue. Insider activity was mixed, with one executive buying shares and another selling a larger position.

Element Fleet Management (TSE:EFN - Get Free Report) had its price target decreased by stock analysts at RBC Dominion Securities from C$40.00 to C$33.00 in a report issued on Thursday, BayStreet reports. The brokerage currently has an "outperform" rating on the financial services provider's stock. RBC Dominion Securities' price objective indicates a potential upside of 51.86% from the company's current price.

Separately, Raymond James Financial reduced their price objective on Element Fleet Management from C$42.00 to C$32.00 and set an "outperform" rating for the company in a report on Tuesday, October 6th. Eight research analysts have rated the stock with a Buy rating. According to MarketBeat, Element Fleet Management currently has a consensus rating of "Buy" and an average target price of C$39.75.

Element Fleet Management Stock Performance

Shares of Element Fleet Management stock traded down C$0.01 on Thursday, reaching C$21.73. 1,151,176 shares of the company traded hands, compared to its average volume of 1,102,481. Element Fleet Management has a 52 week low of C$21.20 and a 52 week high of C$38.26. The company has a 50 day moving average of C$25.32 and a 200 day moving average of C$28.13. The firm has a market capitalization of C$8.50 billion, a PE ratio of 29.36, a PEG ratio of 2.97 and a beta of 0.60. 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 (TSE:EFN - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The financial services provider reported C$0.48 earnings per share (EPS) for the quarter. The company had revenue of C$451.94 million during the quarter. Element Fleet Management had a net margin of 12.17% and a return on equity of 10.57%. Equities analysts forecast that Element Fleet Management will post 1.69 earnings per share for the current year.

Insider Activity

In other Element Fleet Management news, insider Jose Manuel Tamayo acquired 2,343 shares of the company's stock in a transaction on Wednesday, September 16th. The shares were acquired at an average cost of C$24.75 per share, with a total value of C$57,989.25. Following the completion of 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 stock in a transaction dated 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 transaction, the insider owned 64,897 shares of the company's stock, valued at C$1,704,195.22. This represents a 58.33% decrease in their position. 0.26% of the stock is owned by corporate 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.

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