TD Securities Forecasts Strong Price Appreciation for Element Fleet Management (TSE:EFN) Stock

Key Points

• TD Securities has raised its price target for Element Fleet Management from C$41.00 to C$42.00, indicating a potential upside of 16.31% from the current stock price.
• Element Fleet Management's stock recently declined by 2.0% to C$36.11, with trading volume lower than its average.
• Insider activity includes Director Luis Manuel Enrique Tellez Kuenzler purchasing 4,300 shares at an average cost of C$31.58 per share.

Element Fleet Management (TSE:EFN - Free Report) had its price objective boosted by TD Securities from C$41.00 to C$42.00 in a research report sent to investors on Thursday morning,BayStreet.CA reports. The brokerage currently has a buy rating on the financial services provider's stock.

EFN has been the topic of several other research reports. Royal Bank Of Canada upgraded shares of Element Fleet Management to a "moderate buy" rating and set a C$43.00 target price on the stock in a report on Wednesday, June 18th. Scotiabank upped their target price on Element Fleet Management from C$33.00 to C$40.00 in a research report on Wednesday, July 23rd. BMO Capital Markets raised their target price on Element Fleet Management from C$33.00 to C$35.00 in a research note on Friday, May 2nd. Keefe, Bruyette & Woods raised Element Fleet Management to a "hold" rating in a research note on Sunday, April 20th. Finally, Jefferies Financial Group reduced their price objective on shares of Element Fleet Management from C$31.00 to C$30.00 in a research report on Monday, April 21st. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of C$40.00.

Element Fleet Management Trading Up 1.0%

Shares of TSE EFN traded up C$0.37 during midday trading on Thursday, reaching C$36.77. The stock had a trading volume of 579,796 shares, compared to its average volume of 599,760. The company's 50 day moving average price is C$34.43 and its 200 day moving average price is C$31.25. The company has a debt-to-equity ratio of 303.64, a quick ratio of 5.70 and a current ratio of 7.04. Element Fleet Management has a twelve month low of C$25.00 and a twelve month high of C$37.00. The firm 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 issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Monday, June 30th. Element Fleet Management's dividend payout ratio (DPR) is currently 39.84%.

Insider Activity

In other Element Fleet Management news, Director Luis Manuel Enrique Tellez Kuenzler purchased 4,300 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was acquired at an average price of C$31.58 per share, for a total transaction of C$135,781.10. 0.26% of the stock is currently owned by corporate insiders.

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.