Element Fleet Management Corp (TSE:EFN) Given New C$10.00 Price Target at CIBC
Element Fleet Management Corp (TSE:EFN) had its target price reduced by research analysts at CIBC from C$15.00 to C$10.00 in a note issued to investors on Friday. The brokerage currently has an “outperform” rating on the financial services provider’s stock. CIBC’s price objective would indicate a potential upside of 17.65% from the stock’s current price.
Several other analysts also recently weighed in on EFN. BMO Capital Markets lowered their target price on Element Fleet Management Corp from C$15.00 to C$11.00 in a research note on Friday. TD Securities lowered their target price on Element Fleet Management Corp from C$11.00 to C$9.50 and set a “hold” rating for the company in a research note on Friday. CSFB downgraded Element Fleet Management Corp from an “outperform” rating to a “neutral” rating and lowered their target price for the company from C$13.00 to C$10.50 in a research note on Friday. National Bank Financial lowered their target price on Element Fleet Management Corp from C$11.50 to C$10.00 and set a “sector perform” rating for the company in a research note on Friday. Finally, Credit Suisse Group cut shares of Element Fleet Management Corp from an “outperform” rating to a “neutral” rating in a research report on Friday. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Element Fleet Management Corp has an average rating of “Hold” and a consensus target price of C$11.65.
Shares of Element Fleet Management Corp (EFN) traded down 4.94% during mid-day trading on Friday, reaching $8.08. The company’s stock had a trading volume of 2,884,235 shares. The firm has a market capitalization of $3.14 billion and a PE ratio of 9.73. The firm has a 50-day moving average of $9.17 and a 200-day moving average of $11.38. Element Fleet Management Corp has a 52 week low of $6.20 and a 52 week high of $16.57.
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In other news, insider James Halliday purchased 13,160 shares of the company’s stock in a transaction on Thursday, June 1st. The shares were bought at an average price of C$9.50 per share, for a total transaction of C$125,020.00. Also, insider Kristi Webb purchased 20,000 shares of the company’s stock in a transaction on Friday, June 2nd. The stock was purchased at an average price of C$9.59 per share, for a total transaction of C$191,800.00. Insiders acquired 45,160 shares of company stock worth $426,020 in the last 90 days.
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.
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