Element Fleet Management (TSE:EFN) Price Target Raised to C$40.00

Key Points

• BMO Capital Markets has raised the price target for Element Fleet Management from C$35.00 to C$40.00, suggesting an 8.99% upside from its previous close.
• Currently, the stock has a consensus rating of "Moderate Buy" from analysts, with various firms issuing differing price targets, including a high of C$43.00 from Royal Bank Of Canada.
• Element Fleet Management's stock trades at around C$36.70, showing a trading volume well below its average, and has recorded a 52-week range from C$25.00 to C$37.00.

Element Fleet Management (TSE:EFN - Free Report) had its target price boosted by BMO Capital Markets from C$35.00 to C$40.00 in a research note released on Friday morning,BayStreet.CA reports. The firm currently has an outperform rating on the financial services provider's stock.

EFN has been the subject of a number of other research reports. Scotiabank increased their price objective on shares of Element Fleet Management from C$33.00 to C$40.00 in a report on Wednesday, July 23rd. Royal Bank Of Canada upgraded shares of Element Fleet Management to a "moderate buy" rating and set a C$43.00 price objective for the company in a report on Wednesday, June 18th. National Bankshares increased their price objective on shares of Element Fleet Management from C$46.00 to C$47.00 in a report on Thursday, August 7th. TD Securities increased their price objective on shares of Element Fleet Management from C$41.00 to C$42.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Finally, Jefferies Financial Group cut their price objective on shares of Element Fleet Management from C$31.00 to C$30.00 in a report on Monday, April 21st. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of C$40.00.

Element Fleet Management Price Performance

Shares of EFN traded up C$0.02 during mid-day trading on Friday, hitting C$37.49. 76,601 shares of the company were exchanged, compared to its average volume of 593,171. Element Fleet Management has a 1-year low of C$25.00 and a 1-year high of C$37.67. The company has a debt-to-equity ratio of 303.64, a quick ratio of 5.70 and a current ratio of 7.04. The company has a 50 day moving average of C$34.62 and a 200-day moving average of C$31.37. The stock has a market cap of C$10.75 billion, a price-to-earnings ratio of 31.11, a price-to-earnings-growth ratio of 2.97 and a beta of 0.91.

Element Fleet Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 15th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Monday, June 30th. Element Fleet Management's dividend payout ratio (DPR) is currently 39.84%.

About Element Fleet Management

Element Financial separated into two independent public companies in October 2016. The former company now consists of Element Fleet Management, a global fleet management company, and ECN Capital, a commercial finance company. Element Fleet Management provides management services and financing for commercial vehicle and equipment fleets.