National Bank Financial Issues Pessimistic Forecast for Element Fleet Management (TSE:EFN) Stock Price

Key Points

• National Bank Financial cut Element Fleet Management’s price target from C$50 to C$35 while maintaining an “outperform” rating, implying roughly 54% upside from the reported C$22.73 share price.
• Other analysts also lowered their targets to between C$31 and C$33, though the stock retains a consensus “Buy” rating from eight analysts and an average target of C$35.75.
• EFN shares rose 4.3% during Wednesday trading, but remain below their 50-day and 200-day moving averages; recent insider activity included a major sale by one insider and a smaller purchase by another.

Element Fleet Management (TSE:EFN - Get Free Report) had its price target dropped by investment analysts at National Bank Financial from C$50.00 to C$35.00 in a report released on Wednesday, BayStreet reports. The brokerage currently has an "outperform" rating on the financial services provider's stock. National Bank Financial's target price would indicate a potential upside of 53.98% from the company's current price.

Several other equities research analysts also recently weighed in on EFN. Raymond James Financial lowered 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 report on Tuesday, October 6th. Scotia cut their price objective 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. RBC Dominion Securities decreased their price objective on shares of Element Fleet Management from C$40.00 to C$33.00 and set an "outperform" rating for the company in a research report on Thursday, October 15th. Finally, TD lowered their target price on shares of Element Fleet Management from C$38.00 to C$31.00 and set a "buy" rating for the company in a research note on Monday, October 19th. Eight research analysts have rated the stock with a Buy rating. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of C$35.75.

Element Fleet Management Stock Up 4.3%

Shares of EFN traded up C$0.93 during midday trading on Wednesday, hitting C$22.73. 1,714,220 shares of the company's stock traded hands, compared to its average volume of 1,150,596. The company has a current ratio of -1,179.03, a quick ratio of 5.70 and a debt-to-equity ratio of 357.23. The stock has a market capitalization of C$8.89 billion, a price-to-earnings ratio of 30.72, a price-to-earnings-growth ratio of 2.97 and a beta of 0.60. Element Fleet Management has a 1 year low of C$20.39 and a 1 year high of C$38.19. The firm's fifty day moving average is C$24.11 and its 200-day moving average is C$29.25.

Element Fleet Management (TSE:EFN - Get Free Report) last announced its earnings results on Wednesday, August 5th. The financial services provider reported C$0.48 earnings per share for the quarter. Element Fleet Management had a return on equity of 10.57% and a net margin of 12.17%. The firm had revenue of C$451.94 million for the quarter. As a group, sell-side analysts anticipate that Element Fleet Management will post 1.69 earnings per share for the current year.

Insiders Place Their Bets

In other Element Fleet Management news, insider Jacob Eisenberg sold 90,855 shares of Element Fleet Management 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 completion of the sale, 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 position. Also, insider Jose Manuel Tamayo purchased 2,343 shares of the company's stock in a transaction on Wednesday, September 16th. The shares were purchased at an average price of C$24.75 per share, for a total transaction of C$57,989.25. Following the purchase, the insider owned 3,844 shares in the company, valued at approximately 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.

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