Element Fleet Management (TSE:EFN) Price Target Raised to C$34.00

Element Fleet Management (TSE:EFN) had its price objective lifted by equities research analysts at Raymond James from C$30.00 to C$34.00 in a report released on Thursday,BayStreet.CA reports. Raymond James’ price objective points to a potential upside of 25.93% from the company’s current price.

EFN has been the subject of several other research reports. National Bankshares upped their price target on shares of Element Fleet Management from C$34.00 to C$37.00 in a report on Friday, September 27th. TD Securities increased their price objective on shares of Element Fleet Management from C$32.00 to C$33.00 and gave the stock a “buy” rating in a research note on Thursday. Jefferies Financial Group upped their target price on Element Fleet Management from C$28.00 to C$31.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. BMO Capital Markets upped their price objective on Element Fleet Management from C$28.00 to C$32.00 in a research note on Thursday, August 15th. Finally, Royal Bank of Canada raised their target price on shares of Element Fleet Management from C$33.00 to C$35.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Element Fleet Management presently has an average rating of “Moderate Buy” and an average price target of C$33.63.

Element Fleet Management Trading Down 4.5 %

EFN traded down C$1.26 during mid-day trading on Thursday, hitting C$27.00. The stock had a trading volume of 999,959 shares, compared to its average volume of 539,419. The stock’s fifty day simple moving average is C$28.68 and its 200-day simple moving average is C$26.22. The firm has a market capitalization of C$10.90 billion, a price-to-earnings ratio of 20.99, a price-to-earnings-growth ratio of 2.97 and a beta of 0.91. Element Fleet Management has a 1-year low of C$20.55 and a 1-year high of C$30.04. The company has a debt-to-equity ratio of 303.14, a current ratio of 8.22 and a quick ratio of 5.70.

Element Fleet Management (TSE:EFN) last posted its earnings results on Tuesday, August 13th. The financial services provider reported C$0.40 earnings per share for the quarter, topping the consensus estimate of C$0.37 by C$0.03. Element Fleet Management had a return on equity of 12.58% and a net margin of 23.41%. The firm had revenue of C$375.68 million for the quarter, compared to analyst estimates of C$368.46 million. As a group, research analysts forecast that Element Fleet Management will post 1.6884016 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Senior Officer Laura Lee Dottori-Attanasio bought 18,000 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was bought at an average cost of C$27.67 per share, for a total transaction of C$498,074.40. 0.26% of the stock is owned by company insiders.

About Element Fleet Management

Element Fleet Management Corp. operates as a fleet management company primarily in Canada, Mexico, Australia, and New Zealand. The company offers end-to-end fleet cars, trucks, and material handling support equipment acquisition; and end-to-end electric vehicle fleet including fleet planning, charging infrastructure solutions, acquisition, financing, maintenance, and remarketing.