Element Fleet Management Corp (TSE:EFN) was downgraded by analysts at Raymond James Financial, Inc. from a “strong-buy” rating to an “outperform” rating in a research report issued on Friday. They currently have a C$13.00 target price on the financial services provider’s stock, down from their prior target price of C$16.00. Raymond James Financial, Inc.’s target price would suggest a potential upside of 52.94% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on the company. Credit Suisse Group dropped their price objective on Element Fleet Management Corp from C$16.00 to C$14.50 in a research note on Thursday, May 11th. Barclays PLC decreased their target price on Element Fleet Management Corp from C$15.00 to C$14.00 and set an “overweight” rating for the company in a report on Monday, May 8th. CSFB decreased their target price on Element Fleet Management Corp from C$16.00 to C$14.50 in a report on Thursday, May 11th. Royal Bank Of Canada lowered Element Fleet Management Corp from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from C$16.00 to C$13.00 in a report on Monday, April 24th. Finally, TD Securities decreased their target price on Element Fleet Management Corp from C$13.50 to C$11.00 and set a “hold” rating for the company in a report on Friday, July 28th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of C$11.65.

Element Fleet Management Corp (EFN) traded down 5.000% during trading on Friday, hitting $8.075. The stock had a trading volume of 2,880,735 shares. The company has a market cap of $3.14 billion and a PE ratio of 9.729. Element Fleet Management Corp has a 12 month low of $6.20 and a 12 month high of $16.57. The company’s 50 day moving average is $9.17 and its 200-day moving average is $11.38.

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In related news, insider Samir Michael Zabaneh purchased 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 21st. The shares were purchased at an average price of C$9.10 per share, for a total transaction of C$109,200.00. Also, insider James Halliday purchased 13,160 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was bought at an average price of C$9.50 per share, for a total transaction of C$125,020.00. Insiders have bought 45,160 shares of company stock worth $426,020 in the last quarter.

About Element Fleet Management Corp

Element Financial Corporation is an independentfinancial services company that originates, co-invests in and manages asset-based financings with operations in Canada and the United States. The Company operates in four business verticals: Commercial and Vendor Finance, Aviation Finance, Fleet Management and Rail Finance.

Analyst Recommendations for Element Fleet Management Corp (TSE:EFN)

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