Scotia Issues Pessimistic Forecast for Element Fleet Management (TSE:EFN) Stock Price

Element Fleet Management (TSE:EFN) had its target price dropped by investment analysts at Scotia from C$41.00 to C$32.00 in a report issued on Monday, BayStreet reports. The firm currently has a “sector outperform” rating on the financial services provider’s stock. Scotia‘s target price suggests a potential upside of 50.59% from the stock’s previous close.

A number of other research firms also recently weighed in on EFN. Raymond James Financial lowered their price target on 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. TD cut their price objective on Element Fleet Management from C$38.00 to C$31.00 and set a “buy” rating for the company in a report on Monday, October 19th. Finally, RBC Dominion Securities reduced their price objective on Element Fleet Management from C$40.00 to C$33.00 and set an “outperform” rating on the stock in a research report on Thursday, October 15th. Eight equities research analysts have rated the stock with a Buy rating. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of C$37.62.

Element Fleet Management Price Performance

Shares of Element Fleet Management stock traded down C$0.20 on Monday, hitting C$21.25. 542,381 shares of the company traded hands, compared to its average volume of 1,128,081. Element Fleet Management has a 12-month low of C$20.39 and a 12-month high of C$38.26. 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 company has a market cap of C$8.32 billion, a P/E ratio of 28.72, a P/E/G ratio of 2.97 and a beta of 0.60. The firm’s 50-day simple moving average is C$24.33 and its 200 day simple moving average is C$27.69.

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

Insider Buying and Selling at Element Fleet Management

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

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.