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

Shares of Element Fleet Management Corp. (TSE:EFN) reached a new 52-week low during trading on Tuesday after Raymond James Financial lowered their price target on the stock from C$42.00 to C$32.00. Raymond James Financial currently has an outperform rating on the stock. Element Fleet Management traded as low as C$21.80 and last traded at C$21.81, with a volume of 184225 shares. The stock had previously closed at C$22.32.

Insider Activity at Element Fleet Management

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

Element Fleet Management Stock Performance

The company has a market cap of C$8.47 billion, a PE ratio of 29.26, a P/E/G ratio of 2.97 and a beta of 0.60. The company has a quick ratio of 5.70, a current ratio of -1,179.03 and a debt-to-equity ratio of 357.23. The stock’s 50 day simple moving average is C$26.32 and its two-hundred day simple moving average is C$28.45.

Element Fleet Management (TSE:EFN) last posted its quarterly earnings results on Wednesday, August 5th. The financial services provider reported C$0.48 earnings per share (EPS) for the quarter. The firm 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%. As a group, research analysts anticipate that Element Fleet Management Corp. will post 1.6884016 earnings per share for the current year.

About Element Fleet Management

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.