Element Fleet Management (TSE:EFN) Reaches New 52-Week Low on Analyst Downgrade

Element Fleet Management Corp. (TSE:EFN) shares reached a new 52-week low on Wednesday after National Bank Financial lowered their price target on the stock from C$35.00 to C$30.00. National Bank Financial currently has an outperform rating on the stock. Element Fleet Management traded as low as C$19.56 and last traded at C$20.05, with a volume of 651,400 shares. The stock had previously closed at C$22.42.

Other analysts have also recently issued research reports about the company. Raymond James Financial reduced their price target on Element Fleet Management from C$42.00 to C$32.00 and set an “outperform” rating for the company in a research report on Tuesday, October 6th. TD Securities lowered Element Fleet Management from a “strong-buy” rating to a “hold” rating in a report on Wednesday. RBC Dominion Securities cut their price objective on Element Fleet Management from C$40.00 to C$33.00 and set an “outperform” rating on the stock in a research note on Thursday, October 15th. Scotia cut their price objective on Element Fleet Management from C$41.00 to C$32.00 and set a “sector outperform” rating on the stock in a research note on Monday, October 26th. Finally, TD lowered Element Fleet Management from a “buy” rating to a “hold” rating and reduced their target price for the stock from C$31.00 to C$22.00 in a report on Wednesday. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Element Fleet Management has an average rating of “Moderate Buy” and a consensus price target of C$32.86.

Insider Transactions at Element Fleet Management

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

Element Fleet Management Stock Performance

The firm’s 50 day moving average price is C$23.27 and its 200-day moving average price is C$28.78. The firm has a market cap of C$7.47 billion, a price-to-earnings ratio of 25.99, a P/E/G ratio of 2.97 and a beta of 0.57. The company has a debt-to-equity ratio of 3.35, a current ratio of -1,737.58 and a quick ratio of 5.70.

Element Fleet Management (TSE:EFN) last released its earnings results on Tuesday, November 3rd. The financial services provider reported C$0.50 EPS for the quarter. Element Fleet Management had a net margin of 12.29% and a return on equity of 10.87%. The firm had revenue of C$456.57 million during the quarter. On average, analysts anticipate that Element Fleet Management Corp. will post 1.69 earnings per share for the current year.

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.