Element Fleet Management (TSE:EFN) Price Target Raised to C$32.00

Element Fleet Management (TSE:EFN) had its price objective boosted by TD Securities from C$30.00 to C$32.00 in a research note issued to investors on Friday morning, BayStreet.CA reports.

Several other equities analysts have also recently weighed in on the company. National Bankshares lifted their price target on Element Fleet Management from C$33.00 to C$34.00 and gave the company an outperform rating in a research report on Wednesday, August 14th. BMO Capital Markets lifted their price target on Element Fleet Management from C$28.00 to C$32.00 in a research report on Thursday, August 15th. Jefferies Financial Group lifted their price target on Element Fleet Management from C$28.00 to C$31.00 and gave the company a buy rating in a research report on Tuesday, July 30th. Royal Bank of Canada lifted their price objective on 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. Finally, Raymond James lifted their price objective on Element Fleet Management from C$29.00 to C$30.00 and gave the company a strong-buy rating in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of C$31.50.

Element Fleet Management Stock Performance

TSE:EFN opened at C$28.37 on Friday. The company has a debt-to-equity ratio of 303.14, a current ratio of 8.22 and a quick ratio of 5.70. The business has a fifty day simple moving average of C$26.96 and a two-hundred day simple moving average of C$24.49. Element Fleet Management has a 1 year low of C$18.50 and a 1 year high of C$28.89. The company has a market capitalization of C$11.45 billion, a P/E ratio of 22.34, a P/E/G ratio of 2.97 and a beta of 0.91.

Element Fleet Management (TSE:EFN) last announced its quarterly earnings results on Tuesday, August 13th. The financial services provider reported C$0.40 earnings per share for the quarter, beating the consensus estimate of C$0.37 by C$0.03. The company had revenue of C$375.68 million during the quarter, compared to analysts’ expectations of C$368.46 million. Element Fleet Management had a return on equity of 12.58% and a net margin of 23.41%. On average, analysts expect that Element Fleet Management will post 1.6868327 earnings per share for the current year.

Element Fleet Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 15th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.69%. The ex-dividend date is Friday, September 27th. Element Fleet Management’s dividend payout ratio (DPR) is currently 37.80%.

Insiders Place Their Bets

In other news, Senior Officer Laura Lee Dottori-Attanasio purchased 18,000 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was purchased at an average price of C$27.67 per share, with a total value of C$498,074.40. Corporate insiders own 0.23% of the company’s stock.

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.