Raymond James Financial Downgrades Element Fleet Management (TSE:EFN) to Outperform

Key Points

• Raymond James downgraded Element Fleet Management from "strong-buy" to "outperform" and set a C$42.00 price target (from C$42.50), implying roughly a 42.8% upside from the current share price.
• Analyst sentiment remains broadly positive with a consensus Buy rating from seven analysts and an average target of C$43.43, while some firms maintain higher targets (e.g., National Bank C$50, RBC C$47).
• EFN traded at C$29.41 (near its 12‑month low) on heavy volume; the company has a high P/E of 42.6, an elevated debt‑to‑equity ratio of 363.75, and last quarter results of C$0.45 EPS on C$430.2M revenue.

Element Fleet Management (TSE:EFN - Get Free Report) was downgraded by investment analysts at Raymond James Financial from a "strong-buy" rating to an "outperform" rating in a research note issued to investors on Thursday,BayStreet.CA reports. They presently have a C$42.00 price target on the financial services provider's stock, down from their prior price target of C$42.50. Raymond James Financial's target price points to a potential upside of 42.81% from the company's current price.

Other analysts have also recently issued research reports about the stock. Jefferies Financial Group upgraded shares of Element Fleet Management from a "hold" rating to a "buy" rating in a research note on Monday, February 23rd. TD Securities lowered their target price on shares of Element Fleet Management from C$42.00 to C$41.00 and set a "buy" rating on the stock in a research report on Wednesday, February 25th. National Bank Financial increased their target price on shares of Element Fleet Management from C$48.00 to C$50.00 and gave the company an "outperform" rating in a report on Wednesday, February 4th. Finally, Royal Bank Of Canada set a C$47.00 price target on Element Fleet Management and gave the stock an "outperform" rating in a research note on Monday, January 26th. Seven investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of C$43.43.

Element Fleet Management Price Performance

EFN stock traded down C$1.56 on Thursday, reaching C$29.41. 918,242 shares of the company's stock were exchanged, compared to its average volume of 859,255. The stock has a fifty day moving average of C$31.69 and a 200-day moving average of C$34.40. The firm has a market cap of C$11.68 billion, a PE ratio of 42.62, a P/E/G ratio of 2.97 and a beta of 0.32. The company has a quick ratio of 5.70, a current ratio of 4.05 and a debt-to-equity ratio of 363.75. Element Fleet Management has a twelve month low of C$29.07 and a twelve month high of C$38.26.

Element Fleet Management (TSE:EFN - Get Free Report) last released its earnings results on Wednesday, February 25th. The financial services provider reported C$0.45 EPS for the quarter. The company had revenue of C$430.19 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 analysts predict that Element Fleet Management will post 1.6884016 EPS for the current fiscal year.

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. 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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