Element Fleet Management (TSE:EFN) Stock Price Target Lowered at RBC Dominion Securities

Element Fleet Management (TSE:EFN) had its price target reduced by research analysts at RBC Dominion Securities from C$40.00 to C$33.00 in a report released on Thursday, BayStreet reports. The firm presently has an “outperform” rating on the financial services provider’s stock. RBC Dominion Securities’ price target suggests a potential upside of 51.86% from the stock’s current price.

Separately, Raymond James Financial dropped their price objective on Element Fleet Management from C$42.00 to C$32.00 and set an “outperform” rating on the stock in a report on Tuesday, October 6th. Eight equities research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of C$39.75.

Element Fleet Management Stock Performance

Shares of Element Fleet Management stock traded down C$0.01 during trading hours on Thursday, reaching C$21.73. The company had a trading volume of 1,151,176 shares, compared to its average volume of 1,102,481. Element Fleet Management has a one year low of C$21.20 and a one year high of C$38.26. The business has a fifty day simple moving average of C$25.32 and a 200 day simple moving average of C$28.13. The company has a debt-to-equity ratio of 357.23, a current ratio of -1,179.03 and a quick ratio of 5.70. The firm has a market cap of C$8.50 billion, a PE ratio of 29.36, a price-to-earnings-growth ratio of 2.97 and a beta of 0.60.

Element Fleet Management (TSE:EFN) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported C$0.48 earnings per share for the quarter. The company had revenue of C$451.94 million during the quarter. Element Fleet Management had a return on equity of 10.57% and a net margin of 12.17%. On average, analysts anticipate that Element Fleet Management will post 1.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Jose Manuel Tamayo acquired 2,343 shares of Element Fleet Management stock in a transaction that occurred on Wednesday, September 16th. The stock was bought at an average price of C$24.75 per share, with a total value of C$57,989.25. Following the completion of the purchase, the insider owned 3,844 shares in the company, valued at approximately C$95,139. The trade was a 156.10% increase in their ownership of the stock. Also, insider Jacob Eisenberg sold 90,855 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of C$26.26, for a total transaction of C$2,385,852.30. Following the transaction, the insider directly owned 64,897 shares of the company’s stock, valued at approximately C$1,704,195.22. This represents a 58.33% decrease in their position. 0.26% of the stock is currently owned by company insiders.

Element Fleet Management Company Profile

Element Fleet Management (TSX: EFN) is the largest publicly traded pure play automotive fleet manager in the world and a global leader in intelligent fleet and mobility solutions. Guided by our Purpose to Move the world through intelligent mobility, we help clients manage the vehicles, data, technology, and decisions that keep their businesses moving. Fleet is our foundation, and intelligent mobility is how we lead. By combining deep fleet expertise with connected technologies, data driven intelligence, and strategic partnerships, Element helps clients lower total cost of ownership, improve uptime and driver experience, and build more resilient operations.