Royal Bank Of Canada Issues Positive Forecast for Element Fleet Management (TSE:EFN) Stock Price

Key Points

• Royal Bank of Canada has raised its target price for Element Fleet Management from C$43.00 to C$47.00, indicating a potential upside of 28.07% from the current stock price.
• Other analysts have also increased their price targets for the company, with TD Securities and Scotiabank both raising theirs, contributing to a general trend of positive ratings for the stock.
• Element Fleet Management's stock traded at C$36.70 recently, with a market capitalization of C$10.52 billion and showing a 12-month price fluctuation between C$25.00 and C$37.00.

Element Fleet Management (TSE:EFN - Get Free Report) had its target price increased by analysts at Royal Bank Of Canada from C$43.00 to C$47.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the financial services provider's stock. Royal Bank Of Canada's target price suggests a potential upside of 25.37% from the stock's current price.

Several other equities research analysts have also commented on EFN. Keefe, Bruyette & Woods upgraded shares of Element Fleet Management to a "hold" rating in a research note on Sunday, April 20th. National Bankshares lifted their price target on shares of Element Fleet Management from C$46.00 to C$47.00 in a research note on Thursday, August 7th. Jefferies Financial Group cut their price target on shares of Element Fleet Management from C$31.00 to C$30.00 in a research note on Monday, April 21st. BMO Capital Markets lifted their price target on shares of Element Fleet Management from C$35.00 to C$40.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Finally, Scotiabank lifted their price target on shares of Element Fleet Management from C$33.00 to C$40.00 in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of C$40.00.

Element Fleet Management Stock Up 0.1%

Shares of EFN traded up C$0.02 during midday trading on Friday, reaching C$37.49. The stock had a trading volume of 76,601 shares, 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's fifty day simple moving average is C$34.62 and its two-hundred day simple moving average is C$31.37. The company has a market cap of C$10.75 billion, a price-to-earnings ratio of 31.11, a PEG ratio of 2.97 and a beta of 0.91. The company has a debt-to-equity ratio of 303.64, a current ratio of 7.04 and a quick ratio of 5.70.

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.