Element Fleet Management (EFN) Rating Increased to Outperform Market Weight at National Bank Financial

Element Fleet Management (TSE:EFN) was upgraded by equities researchers at National Bank Financial from a “sector perform market weight” rating to an “outperform market weight” rating in a research report issued to clients and investors on Thursday.

A number of other equities analysts have also issued reports on the company. CIBC increased their price objective on Element Fleet Management from C$6.50 to C$7.00 in a report on Wednesday, August 15th. Cormark increased their price objective on Element Fleet Management from C$6.50 to C$7.00 in a report on Wednesday, August 15th. Finally, Royal Bank of Canada increased their price objective on Element Fleet Management from C$8.00 to C$9.00 and gave the stock an “outperform” rating in a report on Tuesday, August 14th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Element Fleet Management presently has a consensus rating of “Buy” and an average target price of C$7.65.

Shares of TSE:EFN traded up C$0.14 during trading on Thursday, hitting C$8.25. 1,933,100 shares of the company traded hands, compared to its average volume of 2,413,158. Element Fleet Management has a one year low of C$3.21 and a one year high of C$11.03.

Element Fleet Management (TSE:EFN) last posted its earnings results on Monday, August 13th. The financial services provider reported C$0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.17 by C$0.02. The company had revenue of C$219.44 million for the quarter, compared to the consensus estimate of C$216.00 million.

Element Fleet Management Company Profile

Element Fleet Management Corp. operates as a fleet management company in Canada, the United States, and internationally. The company offers fleet management services, including acquisition, financing, program management, and remarketing services for cars and light duty vehicles, medium and heavy duty trucks, material handling equipment, automobiles, and specialty vehicles and equipment, as well as corporate, municipal, and industrial fleets.

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Analyst Recommendations for Element Fleet Management (TSE:EFN)

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