Element Fleet Management Corp (EFN) Given New C$9.50 Price Target at TD Securities
Element Fleet Management Corp (TSE:EFN) had its price target cut by TD Securities from C$11.00 to C$9.50 in a research report released on Thursday, StockTargetPrices.com reports. They currently have a hold rating on the financial services provider’s stock.
EFN has been the topic of a number of other reports. Barclays PLC reduced their price objective on shares of Element Fleet Management Corp from C$18.00 to C$15.00 in a report on Monday, May 15th. Royal Bank Of Canada lowered shares of Element Fleet Management Corp from an outperform rating to a sector perform rating and reduced their price objective for the company from C$16.00 to C$13.00 in a report on Monday, April 24th. Scotiabank reduced their price objective on shares of Element Fleet Management Corp from C$13.00 to C$11.00 and set a sector perform rating on the stock in a report on Friday, August 11th. Credit Suisse Group reduced their price objective on shares of Element Fleet Management Corp from C$16.00 to C$14.50 in a report on Thursday, May 11th. Finally, CIBC reduced their price objective on shares of Element Fleet Management Corp from C$15.00 to C$10.00 and set an outperform rating on the stock in a report on Thursday. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Element Fleet Management Corp has a consensus rating of Hold and a consensus target price of C$11.20.
Element Fleet Management Corp (TSE:EFN) opened at 8.82 on Thursday. Element Fleet Management Corp has a 52 week low of $6.20 and a 52 week high of $16.57. The company has a market cap of $3.42 billion and a P/E ratio of 13.16. The company has a 50-day moving average of $9.13 and a 200-day moving average of $11.19.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be paid a dividend of $0.075 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.30 annualized dividend and a yield of 3.40%.
In other Element Fleet Management Corp news, insider James Halliday acquired 13,160 shares of the stock in a transaction on Thursday, June 1st. The shares were bought at an average cost of C$9.50 per share, with a total value of C$125,020.00. Also, insider Samir Michael Zabaneh acquired 12,000 shares of the stock in a transaction on Wednesday, June 21st. The shares were acquired at an average cost of C$9.10 per share, for a total transaction of C$109,200.00. Insiders have purchased a total of 45,160 shares of company stock worth $426,020 over 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.
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