Raymond James Financial Boosts Element Fleet Management (TSE:EFN) Price Target to C$40.00

Key Points

• Raymond James Financial has raised its price target for Element Fleet Management (TSE:EFN) from C$36.00 to C$40.00, indicating a potential upside of 10.77% from the stock's current price and maintaining a "strong-buy" rating.
• Scotiabank and BMO Capital Markets also recently increased their price targets for Element Fleet Management to C$40.00 and C$35.00 respectively, reflecting positive sentiments from multiple analysts.
• Element Fleet Management shares are currently trading at C$36.11 with a market cap of C$10.35 billion, showcasing significant growth potential after reaching a one-year high of C$37.00.

Element Fleet Management (TSE:EFN - Free Report) had its price target lifted by Raymond James Financial from C$36.00 to C$40.00 in a research note issued to investors on Thursday,BayStreet.CA reports. They currently have a strong-buy rating on the financial services provider's stock.

Other equities analysts have also recently issued reports about the company. Keefe, Bruyette & Woods raised Element Fleet Management to a "hold" rating in a report on Sunday, April 20th. Royal Bank Of Canada upgraded shares of Element Fleet Management to a "moderate buy" rating and set a C$43.00 price target on the stock in a research report on Wednesday, June 18th. BMO Capital Markets boosted their price objective on shares of Element Fleet Management from C$33.00 to C$35.00 in a report on Friday, May 2nd. TD Securities upped 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 research note on Thursday. Finally, National Bankshares lifted their target price on shares of Element Fleet Management from C$46.00 to C$47.00 in a research report on Thursday. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Element Fleet Management presently has an average rating of "Moderate Buy" and an average target price of C$40.00.

Element Fleet Management Price Performance

TSE EFN traded up C$0.37 during trading hours on Thursday, reaching C$36.77. 579,796 shares of the stock traded hands, compared to its average volume of 599,760. The stock has a 50 day simple moving average of C$34.43 and a two-hundred day simple moving average of C$31.25. Element Fleet Management has a 1 year low of C$25.00 and a 1 year high of C$37.00. The company has a debt-to-equity ratio of 303.64, a current ratio of 7.04 and a quick ratio of 5.70. The company has a market cap of C$10.54 billion, a price-to-earnings ratio of 30.52, a price-to-earnings-growth ratio of 2.97 and a beta of 0.91.

Element Fleet Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 15th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, June 30th. Element Fleet Management's payout ratio is presently 39.84%.

Insider Activity at Element Fleet Management

In other news, Director Luis Manuel Enrique Tellez Kuenzler purchased 4,300 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was bought at an average cost of C$31.58 per share, for a total transaction of C$135,781.10. 0.26% of the stock is currently owned by insiders.

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.