Element Fleet Management (TSE:EFN) Stock Gets Price Target Reduction from RBC Dominion Securities

Element Fleet Management (TSE:EFN) had its price objective trimmed by RBC Dominion Securities from C$40.00 to C$33.00 in a research report report published on Thursday,BayStreet reports. They currently have an outperform rating on the financial services provider’s stock.

Separately, Raymond James Financial dropped their target price on Element Fleet Management from C$42.00 to C$32.00 and set an “outperform” rating for the company in a report on Tuesday, October 6th. Eight equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of C$39.75.

Element Fleet Management Stock Performance

TSE:EFN opened at C$21.53 on Thursday. The firm has a market capitalization of C$8.43 billion, a PE ratio of 29.09, a price-to-earnings-growth 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. Element Fleet Management has a 12-month low of C$21.20 and a 12-month high of C$38.26. The firm has a 50-day moving average price of C$25.02 and a 200 day moving average price of C$28.03.

Element Fleet Management (TSE:EFN) last released its quarterly earnings data on Wednesday, August 5th. The financial services provider reported C$0.48 earnings per share for the quarter. Element Fleet Management had a return on equity of 10.57% and a net margin of 12.17%. The company had revenue of C$451.94 million for the quarter. Research analysts anticipate that Element Fleet Management will post 1.69 earnings per share for the current fiscal year.

Insider Transactions at Element Fleet Management

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

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.