Raymond James Financial Cuts Element Fleet Management (TSE:EFN) Price Target to C$32.00

Element Fleet Management (TSE:EFN) had its target price trimmed by Raymond James Financial from C$42.00 to C$32.00 in a report issued on Tuesday morning,BayStreet reports. The firm currently has an outperform rating on the financial services provider’s stock.

Element Fleet Management Stock Down 1.0%

Shares of TSE EFN opened at C$21.43 on Tuesday. Element Fleet Management has a 52-week low of C$21.20 and a 52-week high of C$38.26. The company has a debt-to-equity ratio of 357.23, a quick ratio of 5.70 and a current ratio of -1,179.03. The business has a fifty day moving average of C$26.12 and a two-hundred day moving average of C$28.39. The stock has a market cap of C$8.39 billion, a PE ratio of 28.96, a PEG ratio of 2.97 and a beta of 0.60.

Element Fleet Management (TSE:EFN) last posted its earnings results on Wednesday, August 5th. The financial services provider reported C$0.48 earnings per share for the quarter. Element Fleet Management had a net margin of 12.17% and a return on equity of 10.57%. The business had revenue of C$451.94 million for the quarter. As a group, equities research analysts expect that Element Fleet Management will post 1.6884016 earnings per share for the current fiscal year.

Insider Activity at Element Fleet Management

In other Element Fleet Management news, insider Jose Manuel Tamayo bought 2,343 shares of Element Fleet Management stock in a transaction dated Wednesday, September 16th. The shares were acquired at an average cost of C$24.75 per share, with a total value of C$57,989.25. Following the acquisition, the insider directly owned 3,844 shares of the company’s stock, valued at C$95,139. The trade was a 156.10% increase in their ownership of the stock. Also, insider Jacob Eisenberg sold 90,855 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of C$26.26, for a total value of C$2,385,852.30. Following the sale, the insider owned 64,897 shares in the company, valued at approximately C$1,704,195.22. This trade represents a 58.33% decrease in their ownership of the stock. Company insiders own 0.26% of the company’s stock.

Element Fleet Management Company Profile

Element Fleet Management (TSX: EFN) is the largest publicly traded pure play automotive fleet manager in the world and a global leader in intelligent fleet and mobility solutions. Guided by our Purpose to Move the world through intelligent mobility, we help clients manage the vehicles, data, technology, and decisions that keep their businesses moving. Fleet is our foundation, and intelligent mobility is how we lead. By combining deep fleet expertise with connected technologies, data driven intelligence, and strategic partnerships, Element helps clients lower total cost of ownership, improve uptime and driver experience, and build more resilient operations.