Element Fleet Management Corp (TSE:EFN) Price Target Cut to C$11.00

Element Fleet Management Corp (TSE:EFN) had its target price cut by equities research analysts at Scotiabank from C$13.00 to C$11.00 in a research report issued to clients and investors on Friday. The brokerage presently has a “sector perform” rating on the financial services provider’s stock. Scotiabank’s price objective points to a potential upside of 35.30% from the stock’s current price.

A number of other research firms also recently issued reports on EFN. CSFB cut their target price on shares of Element Fleet Management Corp from C$16.00 to C$14.50 in a research report on Thursday, May 11th. TD Securities upped their target price on shares of Element Fleet Management Corp from C$13.00 to C$13.50 and gave the company a “hold” rating in a research report on Thursday, May 11th. Raymond James Financial, Inc. cut their target price on shares of Element Fleet Management Corp from C$17.00 to C$16.00 and set a “strong-buy” rating on the stock in a research report on Thursday, May 11th. Royal Bank Of Canada downgraded shares of Element Fleet Management Corp from an “outperform” rating to a “sector perform” rating and cut their target price for the company from C$16.00 to C$13.00 in a research report on Monday, April 24th. Finally, Credit Suisse Group cut their target price on shares of Element Fleet Management Corp from C$16.00 to C$14.50 in a research report on Thursday, May 11th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of C$11.65.

Shares of Element Fleet Management Corp (TSE:EFN) opened at 8.13 on Friday. The company has a market capitalization of $3.15 billion and a P/E ratio of 9.80. The company has a 50 day moving average of $9.15 and a 200-day moving average of $11.35. Element Fleet Management Corp has a 12-month low of $6.20 and a 12-month high of $16.57.

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In other news, insider James Halliday purchased 13,160 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The shares were acquired at an average cost of C$9.50 per share, for a total transaction of C$125,020.00. Also, insider Kristi Webb purchased 20,000 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The stock was purchased at an average price of C$9.59 per share, for a total transaction of C$191,800.00. Insiders purchased a total of 45,160 shares of company stock worth $426,020 over the last quarter.

About Element Fleet Management Corp

Element Financial Corporation is an independentfinancial services company that originates, co-invests in and manages asset-based financings with operations in Canada and the United States. The Company operates in four business verticals: Commercial and Vendor Finance, Aviation Finance, Fleet Management and Rail Finance.

Analyst Recommendations for Element Fleet Management Corp (TSE:EFN)

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