TD Issues Pessimistic Forecast for Element Fleet Management (TSE:EFN) Stock Price

Key Points

• TD cut Element Fleet Management’s price target to C$31 from C$38 while maintaining a “buy” rating, implying 45.2% upside from the prior close.
• Other analysts also lowered their targets, but sentiment remains positive: eight analysts rate the stock a buy, with a consensus target of C$38.88.
• Element’s shares recently traded at C$21.35, near its 52-week low of C$20.39, while insiders showed mixed activity through a major share sale and a smaller purchase.

Element Fleet Management (TSE:EFN - Get Free Report) had its price target lowered by equities research analysts at TD from C$38.00 to C$31.00 in a research note issued on Monday, BayStreet reports. The brokerage currently has a "buy" rating on the financial services provider's stock. TD's target price suggests a potential upside of 45.20% from the company's previous close.

A number of other equities analysts have also recently weighed in on EFN. RBC Dominion Securities cut 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 report on Thursday. Raymond James Financial dropped 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 research report on Tuesday, October 6th. Eight equities research analysts have rated the stock with a Buy rating. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of C$38.88.

Element Fleet Management Price Performance

Shares of EFN traded down C$0.18 during mid-day trading on Monday, reaching C$21.35. 1,287,235 shares of the company's stock were exchanged, compared to its average volume of 1,111,098. The company has a quick ratio of 5.70, a current ratio of -1,179.03 and a debt-to-equity ratio of 357.23. The company has a 50-day simple moving average of C$25.02 and a two-hundred day simple moving average of C$28.01. Element Fleet Management has a 52-week low of C$20.39 and a 52-week high of C$38.26. The company has a market cap of C$8.35 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 2.97 and a beta of 0.60.

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

Insider Activity

In related news, 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 value of C$2,385,852.30. Following the sale, the insider directly 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. Also, insider Jose Manuel Tamayo bought 2,343 shares of the stock in a transaction that occurred on Wednesday, September 16th. The stock was bought at an average price of C$24.75 per share, with a total value of C$57,989.25. Following the completion of the acquisition, the insider owned 3,844 shares of the company's stock, valued at C$95,139. This trade represents a 156.10% increase in their position. Corporate 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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