Raymond James Issues Positive Forecast for Element Fleet Management (TSE:EFN) Stock Price

Element Fleet Management (TSE:EFN) had its price objective lifted by equities research analysts at Raymond James from C$30.00 to C$34.00 in a report released on Thursday,BayStreet.CA reports. Raymond James’ target price would indicate a potential upside of 25.93% from the company’s previous close.

Other research analysts have also issued research reports about the stock. National Bankshares increased their price target on shares of Element Fleet Management from C$34.00 to C$37.00 in a research note on Friday, September 27th. Scotiabank lowered their target price on shares of Element Fleet Management from C$33.00 to C$32.00 in a research report on Thursday. TD Securities boosted their price target on Element Fleet Management from C$32.00 to C$33.00 and gave the stock a “buy” rating in a research report on Thursday. Jefferies Financial Group upped their price target on Element Fleet Management from C$28.00 to C$31.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Finally, CIBC raised their price objective on Element Fleet Management from C$30.00 to C$33.00 in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$33.63.

Element Fleet Management Stock Down 4.5 %

Shares of TSE:EFN traded down C$1.26 during trading on Thursday, reaching C$27.00. 999,959 shares of the company traded hands, compared to its average volume of 539,419. Element Fleet Management has a 1-year low of C$20.55 and a 1-year high of C$30.04. The company has a quick ratio of 5.70, a current ratio of 8.22 and a debt-to-equity ratio of 303.14. The firm has a market cap of C$10.90 billion, a P/E ratio of 20.99, a price-to-earnings-growth ratio of 2.97 and a beta of 0.91. The firm has a fifty day simple moving average of C$28.68 and a 200 day simple moving average of C$26.22.

Element Fleet Management (TSE:EFN) last issued its earnings results on Tuesday, August 13th. The financial services provider reported C$0.40 earnings per share for the quarter, topping the consensus estimate of C$0.37 by C$0.03. Element Fleet Management had a return on equity of 12.58% and a net margin of 23.41%. The company had revenue of C$375.68 million for the quarter, compared to analyst estimates of C$368.46 million. Analysts anticipate that Element Fleet Management will post 1.6884016 earnings per share for the current fiscal year.

Insider Activity at Element Fleet Management

In other news, Senior Officer Laura Lee Dottori-Attanasio acquired 18,000 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were purchased at an average cost of C$27.67 per share, for a total transaction of C$498,074.40. 0.26% of the stock is currently owned by company insiders.

Element Fleet Management Company Profile

Element Fleet Management Corp. operates as a fleet management company primarily in Canada, Mexico, Australia, and New Zealand. The company offers end-to-end fleet cars, trucks, and material handling support equipment acquisition; and end-to-end electric vehicle fleet including fleet planning, charging infrastructure solutions, acquisition, financing, maintenance, and remarketing.