Element Fleet Management (TSE:EFN) Price Target Raised to C$28.00

Element Fleet Management (TSE:EFN) had its price objective increased by Scotiabank from C$27.00 to C$28.00 in a research report report published on Wednesday, BayStreet.CA reports.

A number of other research analysts have also recently issued reports on the stock. BMO Capital Markets lifted their price objective on shares of Element Fleet Management from C$26.00 to C$28.00 in a report on Thursday, May 16th. CIBC lifted their price target on Element Fleet Management from C$25.00 to C$26.00 and gave the company an outperform rating in a research note on Thursday, May 16th. National Bankshares increased their price objective on Element Fleet Management from C$31.00 to C$33.00 and gave the stock an outperform rating in a research note on Thursday, May 16th. Finally, TD Securities lifted their target price on Element Fleet Management from C$27.00 to C$28.00 and gave the company a buy rating in a research report on Wednesday, May 15th. One analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of C$28.63.

Element Fleet Management Price Performance

EFN stock opened at C$26.56 on Wednesday. The company has a debt-to-equity ratio of 315.13, a current ratio of 8.32 and a quick ratio of 5.70. The company’s 50-day moving average is C$24.96 and its 200-day moving average is C$23.27. The stock has a market capitalization of C$10.33 billion, a PE ratio of 21.95, a price-to-earnings-growth ratio of 2.97 and a beta of 0.83. Element Fleet Management has a 1 year low of C$18.50 and a 1 year high of C$26.92.

Element Fleet Management (TSE:EFN) last announced its quarterly earnings data on Tuesday, May 14th. The financial services provider reported C$0.36 EPS for the quarter, beating analysts’ consensus estimates of C$0.31 by C$0.05. Element Fleet Management had a return on equity of 12.40% and a net margin of 23.30%. The firm had revenue of C$353.83 million during the quarter, compared to analysts’ expectations of C$333.85 million. Equities research analysts expect that Element Fleet Management will post 1.5226286 EPS for the current fiscal year.

Element Fleet Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a $0.12 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.48 annualized dividend and a yield of 1.81%. Element Fleet Management’s dividend payout ratio is currently 39.67%.

Insider Activity at Element Fleet Management

In other news, Senior Officer William Sutherland acquired 4,000 shares of Element Fleet Management stock in a transaction on Tuesday, June 18th. The stock was acquired at an average cost of C$24.90 per share, with a total value of C$99,594.00. In other news, Director George Keith Graham sold 25,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of C$24.70, for a total value of C$617,500.00. Also, Senior Officer William Sutherland purchased 4,000 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were acquired at an average price of C$24.90 per share, with a total value of C$99,594.00. Over the last 90 days, insiders purchased 5,550 shares of company stock worth $132,034 and sold 68,974 shares worth $1,716,749. 0.23% of the stock is owned by company insiders.

Element Fleet Management Company Profile

Element Fleet Management Corp. operates as a fleet management company primarily in Canada, Mexico, Australia, and New Zealand. The company offers end-to-end fleet cars, trucks, and material handling support equipment acquisition; and end-to-end electric vehicle fleet including fleet planning, charging infrastructure solutions, acquisition, financing, maintenance, and remarketing.