Element Fleet Management (TSE:EFN) Reaches New 1-Year Low – Time to Sell?

Shares of Element Fleet Management Corp. (TSE:EFN) hit a new 52-week low during trading on Wednesday. The company traded as low as C$19.56 and last traded at C$20.05, with a volume of 651,400 shares changing hands. The stock had previously closed at C$22.42.

Analysts Set New Price Targets

A number of analysts have recently weighed in on EFN shares. Scotia reduced their target price on shares of Element Fleet Management from C$41.00 to C$32.00 and set a “sector outperform” rating on the stock in a research report on Monday, October 26th. TD lowered their price target on shares of Element Fleet Management from C$38.00 to C$31.00 and set a “buy” rating for the company in a research report on Monday, October 19th. National Bank Financial dropped their price objective on shares of Element Fleet Management from C$50.00 to C$35.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 28th. RBC Dominion Securities lowered their price target on Element Fleet Management from C$40.00 to C$33.00 and set an “outperform” rating for the company in a research report on Thursday, October 15th. Finally, Raymond James Financial cut their price objective on shares of Element Fleet Management from C$42.00 to C$32.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 6th. Eight research analysts have rated the stock with a Buy rating. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of C$34.86.

Element Fleet Management Stock Performance

The company has a market capitalization of C$7.64 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 2.97 and a beta of 0.60. The company has a current ratio of -1,179.03, a quick ratio of 5.70 and a debt-to-equity ratio of 357.23. The business’s fifty day moving average is C$23.57 and its two-hundred day moving average is C$28.93.

Element Fleet Management (TSE:EFN) last issued its earnings results on Tuesday, November 3rd. The financial services provider reported C$0.50 EPS for the quarter. The business had revenue of C$456.57 million for the quarter. Element Fleet Management had a return on equity of 10.57% and a net margin of 12.17%. Equities research analysts predict that Element Fleet Management Corp. will post 1.69 earnings per share for the current year.

Insiders Place Their Bets

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 value of C$2,385,852.30. Following the completion of the sale, the insider directly 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 bought 2,343 shares of the firm’s stock in a transaction on Wednesday, September 16th. The stock was acquired at an average cost of C$24.75 per share, with a total value of C$57,989.25. Following the transaction, the insider owned 3,844 shares in the company, valued at C$95,139. The trade was a 156.10% increase in their position. Corporate insiders own 0.26% of the company’s stock.

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.