Element Fleet Management (TSE:EFN) Stock Price Expected to Rise, TD Securities Analyst Says

Element Fleet Management (TSE:EFN) had its price objective hoisted by equities research analysts at TD Securities from C$32.00 to C$33.00 in a report released on Thursday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. TD Securities’ price objective points to a potential upside of 22.22% from the stock’s current price.

Several other analysts have also recently weighed in on the company. National Bankshares raised their price target on Element Fleet Management from C$34.00 to C$37.00 in a report on Friday, September 27th. BMO Capital Markets raised their target price on shares of Element Fleet Management from C$28.00 to C$32.00 in a research note on Thursday, August 15th. Raymond James boosted their price target on shares of Element Fleet Management from C$29.00 to C$30.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, August 14th. CIBC raised their price objective on shares of Element Fleet Management from C$30.00 to C$33.00 in a research report on Thursday, October 31st. Finally, Jefferies Financial Group upped their target price on shares of Element Fleet Management from C$28.00 to C$31.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Element Fleet Management currently has an average rating of “Moderate Buy” and a consensus target price of C$33.63.

Element Fleet Management Price Performance

EFN stock traded down C$1.26 during mid-day trading on Thursday, reaching C$27.00. 999,959 shares of the company traded hands, compared to its average volume of 539,419. The company has a fifty day moving average price of C$28.68 and a 200-day moving average price of C$26.22. Element Fleet Management has a 52-week low of C$20.55 and a 52-week high of C$30.04. The company has a market capitalization of C$10.90 billion, a P/E ratio of 20.99, a P/E/G ratio of 2.97 and a beta of 0.91. The company has a debt-to-equity ratio of 303.14, a current ratio of 8.22 and a quick ratio of 5.70.

Element Fleet Management (TSE:EFN) last issued its quarterly earnings data on Tuesday, August 13th. The financial services provider reported C$0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of C$368.46 million. As a group, analysts anticipate that Element Fleet Management will post 1.6884016 earnings per share for the current year.

Insider Activity

In related news, Senior Officer Laura Lee Dottori-Attanasio acquired 18,000 shares of Element Fleet Management stock in a transaction on Thursday, September 5th. The shares were acquired at an average cost of C$27.67 per share, with a total value of C$498,074.40. Insiders own 0.26% of the company’s stock.

About Element Fleet Management

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.