Element Fleet Management (TSE:EFN) Stock Bumped Down to Hold by TD Securities

TD Securities lowered shares of Element Fleet Management (TSE:EFN) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday,Zacks reports.

EFN has been the subject of several other reports. Scotia decreased their price objective on shares of Element Fleet Management from C$41.00 to C$32.00 and set a “sector outperform” rating for the company in a research report on Monday, October 26th. Raymond James Financial lowered their target price on shares of Element Fleet Management from C$42.00 to C$32.00 and set an “outperform” rating for the company in a research note on Tuesday, October 6th. National Bank Financial dropped their target price 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 report on Wednesday, October 28th. TD lowered shares of Element Fleet Management from a “buy” rating to a “hold” rating and cut their price target for the company from C$31.00 to C$22.00 in a research note on Wednesday. Finally, RBC Dominion Securities decreased their price target on shares of Element Fleet Management from C$40.00 to C$33.00 and set an “outperform” rating for the company in a report on Thursday, October 15th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$33.57.

Element Fleet Management Trading Down 10.9%

Shares of TSE:EFN opened at C$19.97 on Wednesday. The business’s 50-day moving average is C$23.42 and its 200 day moving average is C$28.86. The company has a debt-to-equity ratio of 3.35, a current ratio of -1,737.58 and a quick ratio of 5.70. Element Fleet Management has a 1 year low of C$19.39 and a 1 year high of C$38.00. The firm has a market capitalization of C$7.81 billion, a P/E ratio of 26.99, a P/E/G ratio of 2.97 and a beta of 0.60.

Element Fleet Management (TSE:EFN) last issued its quarterly earnings results on Tuesday, November 3rd. The financial services provider reported C$0.50 earnings per share for the quarter. Element Fleet Management had a return on equity of 10.87% and a net margin of 12.29%. The business had revenue of C$456.57 million during the quarter. On average, research analysts predict that Element Fleet Management will post 1.69 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Jacob Eisenberg sold 90,855 shares of the 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 transaction, the insider directly owned 64,897 shares of the company’s stock, valued at approximately C$1,704,195.22. This represents a 58.33% decrease in their ownership of the stock. Also, insider Jose Manuel Tamayo acquired 2,343 shares of Element Fleet Management stock in a transaction dated Wednesday, September 16th. The stock was 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 purchase, the insider owned 3,844 shares of the company’s stock, valued at approximately C$95,139. The trade was a 156.10% increase in their ownership of the stock. 0.26% of the stock is currently owned by 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.