Element Fleet Management Corp. (TSE:EFN) Stock Rated “Buy” by Wall Street Brokerages

Element Fleet Management Corp. (TSE:EFN) has received a consensus rating of “Buy” from the eight analysts that are presently covering the stock, Marketbeat Ratings reports. Eight analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is C$34.86.

Several equities research analysts have recently commented on the company. RBC Dominion Securities reduced their target price on Element Fleet Management from C$40.00 to C$33.00 and set an “outperform” rating for the company in a report on Thursday, October 15th. National Bank Financial decreased their price target on Element Fleet Management from C$50.00 to C$35.00 and set an “outperform” rating for the company in a research report on Wednesday. TD dropped their price target on Element Fleet Management from C$38.00 to C$31.00 and set a “buy” rating on the stock in a research note on Monday, October 19th. Raymond James Financial cut their price objective on Element Fleet Management from C$42.00 to C$32.00 and set an “outperform” rating on the stock in a report on Tuesday, October 6th. Finally, Scotia reduced their price objective on shares of Element Fleet Management from C$41.00 to C$32.00 and set a “sector outperform” rating for the company in a research note on Monday, October 26th.

Element Fleet Management Price Performance

TSE EFN opened at C$21.86 on Friday. The stock has a market capitalization of C$8.55 billion, a P/E ratio of 29.54, a P/E/G ratio of 2.97 and a beta of 0.60. Element Fleet Management has a 1 year low of C$20.39 and a 1 year high of C$38.19. The business’s fifty day moving average is C$23.78 and its two-hundred day moving average is C$29.06. 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.

Element Fleet Management (TSE:EFN) last released its quarterly earnings data on Wednesday, August 5th. The financial services provider reported C$0.48 earnings per share for the quarter. The business had revenue of C$451.94 million during the quarter. Element Fleet Management had a return on equity of 10.57% and a net margin of 12.17%. On average, research analysts forecast that Element Fleet Management will post 1.69 earnings per share for the current fiscal year.

Insider Activity at Element Fleet Management

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

About Element Fleet Management

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.