Element Fleet Management (EFN) Sets New 52-Week High at $7.30
Element Fleet Management Corp (TSE:EFN) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$7.30 and last traded at C$7.27, with a volume of 1818265 shares trading hands. The stock had previously closed at C$6.94.
A number of research analysts have issued reports on the company. CIBC upgraded Element Fleet Management from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from C$7.00 to C$10.00 in a research note on Tuesday. Cormark lifted their price objective on Element Fleet Management from C$6.50 to C$7.00 in a research note on Wednesday, August 15th. National Bank Financial boosted their price target on Element Fleet Management from C$6.00 to C$7.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 14th. Royal Bank of Canada boosted their price target on Element Fleet Management from C$8.00 to C$9.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 14th. Finally, Scotiabank boosted their price target on Element Fleet Management from C$6.00 to C$6.50 and gave the stock a “sector perform” rating in a research note on Wednesday, May 16th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of C$7.65.
Element Fleet Management (TSE:EFN) last posted its quarterly earnings results on Monday, August 13th. The financial services provider reported C$0.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.17 by C$0.02. The business had revenue of C$219.44 million during the quarter, compared to analysts’ expectations of C$216.00 million.
Element Fleet Management Corp. operates as a fleet management company in Canada, the United States, and internationally. The company offers fleet management services, including acquisition, financing, program management, and remarketing services for cars and light duty vehicles, medium and heavy duty trucks, material handling equipment, automobiles, and specialty vehicles and equipment, as well as corporate, municipal, and industrial fleets.
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