Element Fleet Management (TSE:EFN) Reaches New 1-Year Low - Time to Sell?

Key Points

• Element Fleet Management shares hit a 52-week low, falling to C$19.56 intraday and last trading at C$20.05, down from the prior close of C$22.42.
• Several brokerages cut their price targets to C$31–C$35, but analyst sentiment remained positive: eight analysts rated the stock Buy, with a consensus target of C$34.86.
• The company reported quarterly EPS of C$0.50 and revenue of C$456.57 million. Insider activity was mixed, with one executive buying shares and another selling a larger stake.

Shares of Element Fleet Management Corp. (TSE:EFN - Get Free Report) reached a new 52-week low during mid-day trading on Wednesday. The company traded as low as C$19.56 and last traded at C$20.05, with a volume of 651,400 shares trading hands. The stock had previously closed at C$22.42.

Analyst Ratings Changes

Several brokerages have recently commented on EFN. TD lowered their price objective 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. Scotia cut their target price on Element Fleet Management from C$41.00 to C$32.00 and set a "sector outperform" rating on the stock in a research note on Monday, October 26th. RBC Dominion Securities reduced their price target on Element Fleet Management from C$40.00 to C$33.00 and set an "outperform" rating on the stock in a report on Thursday, October 15th. 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 research report on Tuesday, October 6th. Finally, National Bank Financial dropped their price objective on Element Fleet Management from C$50.00 to C$35.00 and set an "outperform" rating for the company in a report on Wednesday, October 28th. Eight equities research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, Element Fleet Management presently has an average rating of "Buy" and a consensus price target of C$34.86.

Element Fleet Management Stock Performance

The company's 50-day moving average price is C$23.57 and its 200 day moving average price is C$28.93. The stock has a market capitalization of C$7.64 billion, a PE ratio of 26.39, a PEG ratio of 2.97 and a beta of 0.60. The company has a debt-to-equity ratio of 357.23, a quick ratio of 5.70 and a current ratio of -1,179.03.

Element Fleet Management (TSE:EFN - Get Free Report) last announced its quarterly earnings results on Tuesday, November 3rd. The financial services provider reported C$0.50 earnings per share (EPS) for the quarter. Element Fleet Management had a net margin of 12.17% and a return on equity of 10.57%. The company had revenue of C$456.57 million for the quarter. On average, equities research analysts expect that Element Fleet Management Corp. will post 1.69 earnings per share for the current fiscal year.

Insider Activity at Element Fleet Management

In other news, insider Jose Manuel Tamayo bought 2,343 shares of the firm's stock in a transaction dated Wednesday, September 16th. The stock was purchased at an average price of C$24.75 per share, with a total value of C$57,989.25. Following the transaction, the insider owned 3,844 shares of the company's stock, valued at approximately C$95,139. The trade was a 156.10% increase in their ownership of the stock. Also, 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 completion of the transaction, 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. 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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