Brokerages Set Element Fleet Management Corp. (TSE:EFN) Target Price at C$41.88

Shares of Element Fleet Management Corp. (TSE:EFN) have been given a consensus rating of “Buy” by the eight research firms that are covering the company, MarketBeat Ratings reports. Eight research analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is C$41.88.

EFN has been the subject of several research analyst reports. TD cut their price objective on Element Fleet Management from C$41.00 to C$38.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Royal Bank Of Canada lowered their target price on Element Fleet Management from C$47.00 to C$40.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. Finally, Raymond James Financial lowered Element Fleet Management from a “strong-buy” rating to an “outperform” rating and lowered their target price for the company from C$42.50 to C$42.00 in a report on Thursday, May 7th.

Insiders Place Their Bets

In related news, insider Laura Lee Dottori-Attanasio acquired 35,800 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were bought at an average price of C$27.94 per share, for a total transaction of C$1,000,252.00. Following the acquisition, the insider owned 397,600 shares in the company, valued at C$11,108,944. This trade represents a 9.89% increase in their position. Also, Director George Keith Graham purchased 2,000 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were purchased at an average price of C$28.00 per share, for a total transaction of C$56,000.00. Following the completion of the purchase, the director directly owned 27,000 shares of the company’s stock, valued at approximately C$756,000. This trade represents a 8.00% increase in their ownership of the stock. Insiders have purchased 38,420 shares of company stock worth $1,073,612 in the last ninety days. Insiders own 0.26% of the company’s stock.

Element Fleet Management Stock Performance

Shares of EFN opened at C$30.61 on Friday. The company has a market capitalization of C$12.12 billion, a PE ratio of 41.36, a price-to-earnings-growth ratio of 2.97 and a beta of 0.61. The company has a debt-to-equity ratio of 358.10, a current ratio of -1,554.01 and a quick ratio of 5.70. Element Fleet Management has a one year low of C$25.32 and a one year high of C$38.26. The company’s fifty day moving average price is C$28.45 and its 200 day moving average price is C$31.14.

Element Fleet Management (TSE:EFN) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported C$0.49 earnings per share (EPS) for the quarter. The company had revenue of C$879.58 million during the quarter. Element Fleet Management had a net margin of 12.38% and a return on equity of 10.62%. As a group, analysts expect that Element Fleet Management will post 1.6884016 earnings per share for the current year.

Element Fleet Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 15th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Tuesday, June 30th. Element Fleet Management’s dividend payout ratio is currently 52.84%.

Element Fleet Management Company Profile

Element Financial separated into two independent public companies in October 2016. The former company now consists of Element Fleet Management, a global fleet management company, and ECN Capital, a commercial finance company. Element Fleet Management provides management services and financing for commercial vehicle and equipment fleets. The company’s suite of fleet management services deals with acquisition and financing, to program management and remarketing. ECN Capital operates across North America in three verticals of the equipment finance market: commercial and vendor finance, rail finance, and commercial aviation finance.