Scotiabank Raises Element Fleet Management (TSE:EFN) Price Target to C$42.00

Key Points

• Scotiabank has raised its price target for Element Fleet Management from C$40.00 to C$42.00, indicating a potential upside of 11.46% from the stock's previous close.
• In addition to Scotiabank, multiple analysts have upgraded their price targets and ratings for Element Fleet Management, with a consensus price target of C$40.25.
• The company's stock experienced a modest increase of 0.7%, trading at C$37.68, with insider activity showing increased investment from Heath Leslie Valkenburg.

Element Fleet Management (TSE:EFN - Get Free Report) had its price objective boosted by equities research analysts at Scotiabank from C$40.00 to C$42.00 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the financial services provider's stock. Scotiabank's price target would suggest a potential upside of 11.46% from the stock's previous close.

A number of other research analysts also recently commented on EFN. TD Securities increased their price objective on Element Fleet Management from C$41.00 to C$42.00 and gave the company a "buy" rating in a report on Thursday, August 7th. National Bankshares increased their price objective on Element Fleet Management from C$46.00 to C$47.00 in a report on Thursday, August 7th. Royal Bank Of Canada increased their price objective on Element Fleet Management from C$43.00 to C$47.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Raymond James Financial increased their price objective on Element Fleet Management from C$36.00 to C$40.00 and gave the company a "strong-buy" rating in a report on Thursday, August 7th. Finally, BMO Capital Markets increased their price objective on Element Fleet Management from C$35.00 to C$40.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of C$40.25.

Element Fleet Management Stock Up 0.7%

TSE EFN traded up C$0.26 during trading hours on Friday, hitting C$37.68. 114,486 shares of the company were exchanged, compared to its average volume of 608,232. The company has a 50 day moving average of C$36.76 and a two-hundred day moving average of C$34.31. The company has a quick ratio of 5.70, a current ratio of 7.04 and a debt-to-equity ratio of 303.64. Element Fleet Management has a 52-week low of C$25.00 and a 52-week high of C$38.15. The firm has a market cap of C$15.13 billion, a price-to-earnings ratio of 37.68, a PEG ratio of 2.97 and a beta of 0.49.

Insider Activity

In other Element Fleet Management news, insider Heath Leslie Valkenburg bought 813 shares of the business's stock in a transaction dated Wednesday, September 10th. The stock was acquired at an average cost of C$36.90 per share, with a total value of C$29,999.70. Following the purchase, the insider owned 4,153 shares in the company, valued at approximately C$153,245.70. This represents a 24.34% increase in their position. Company insiders own 0.26% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.