Element Fleet Management (TSE:EFN) Given New C$38.00 Price Target at TD

Key Points

• TD cut its price target on Element Fleet Management to C$38.00 (from C$41.00) while maintaining a "buy" rating, citing a potential upside of about 35.7% from the current price.
• Analyst sentiment remains positive overall — eight analysts rate the stock a Buy with a consensus target of C$41.88, and recent targets from other firms range from C$41 to C$50 (e.g., RBC C$47, National Bank C$50).
• The stock traded down 3.1% to C$28.01 on heavy volume; the company reported recent quarterly EPS of C$0.49 and revenue of C$879.6M, but carries a very high debt-to-equity ratio (363.75).

Element Fleet Management (TSE:EFN - Get Free Report) had its price target cut by equities research analysts at TD from C$41.00 to C$38.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the financial services provider's stock. TD's price target points to a potential upside of 35.67% from the company's current price.

A number of other brokerages have also recently weighed in on EFN. Royal Bank Of Canada set a C$47.00 price target on shares of Element Fleet Management and gave the company an "outperform" rating in a research report on Monday, January 26th. TD Securities reduced their price target on shares of Element Fleet Management from C$42.00 to C$41.00 and set a "buy" rating for the company in a research report on Wednesday, February 25th. National Bank Financial boosted their price target on shares of Element Fleet Management from C$48.00 to C$50.00 and gave the company an "outperform" rating in a research report on Wednesday, February 4th. Jefferies Financial Group raised shares of Element Fleet Management from a "hold" rating to a "buy" rating in a research report on Monday, February 23rd. Finally, Raymond James Financial cut shares of Element Fleet Management from a "strong-buy" rating to an "outperform" rating and reduced their price target for the company from C$42.50 to C$42.00 in a research report on Thursday. Eight analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of C$41.88.

Element Fleet Management Stock Down 3.1%

EFN stock traded down C$0.89 during trading on Friday, hitting C$28.01. 1,435,111 shares of the company's stock were exchanged, compared to its average volume of 872,746. The business has a 50-day moving average price of C$31.58 and a two-hundred day moving average price of C$34.34. The stock has a market capitalization of C$11.12 billion, a price-to-earnings ratio of 40.59, a PEG ratio of 2.97 and a beta of 0.32. Element Fleet Management has a 52-week low of C$27.83 and a 52-week high of C$38.26. The company has a current ratio of 4.05, a quick ratio of 5.70 and a debt-to-equity ratio of 363.75.

Element Fleet Management (TSE:EFN - Get Free Report) last posted its earnings results on Wednesday, May 6th. The financial services provider reported C$0.49 earnings per share for the quarter. The firm had revenue of C$879.58 million during the quarter. Element Fleet Management had a return on equity of 10.09% and a net margin of 12.07%. As a group, equities research analysts expect that Element Fleet Management will post 1.6884016 EPS for the current year.

Element Fleet Management Company Profile

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. The company's suite of fleet management services deals with acquisition and financing, to program management and remarketing. ECN Capital operates across North America in three verticals of the equipment finance market: commercial and vendor finance, rail finance, and commercial aviation finance.

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