National Bank Financial Issues Pessimistic Forecast for Element Fleet Management (TSE:EFN) Stock Price

Element Fleet Management (TSE:EFN) had its target price dropped by analysts at National Bank Financial from C$35.00 to C$30.00 in a research report issued to clients and investors on Thursday, BayStreet reports. The firm presently has an “outperform” rating on the financial services provider’s stock. National Bank Financial‘s target price would suggest a potential upside of 49.40% from the company’s current price.

Several other equities analysts have also weighed in on the stock. Scotia dropped their price objective 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. RBC Dominion Securities reduced their price objective on 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. TD downgraded Element Fleet Management from a “buy” rating to a “hold” rating and decreased their target price for the company from C$31.00 to C$22.00 in a research report on Wednesday. TD Securities lowered Element Fleet Management from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Finally, Raymond James Financial dropped their price target on Element Fleet Management from C$42.00 to C$32.00 and set an “outperform” rating for the company in a report on Tuesday, October 6th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Element Fleet Management currently has an average rating of “Moderate Buy” and a consensus target price of C$32.86.

Element Fleet Management Stock Performance

TSE EFN traded up C$0.62 during trading on Thursday, reaching C$20.08. 2,768,633 shares of the company’s stock were exchanged, compared to its average volume of 1,209,130. The company has a debt-to-equity ratio of 359.10, a current ratio of -1,737.58 and a quick ratio of 5.70. The business has a 50 day moving average price of C$23.15 and a 200-day moving average price of C$28.71. The stock has a market capitalization of C$7.80 billion, a P/E ratio of 27.14, a PEG ratio of 2.97 and a beta of 0.57. Element Fleet Management has a fifty-two week low of C$19.11 and a fifty-two week high of C$38.00.

Element Fleet Management (TSE:EFN) last posted its 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 for the quarter. Sell-side analysts forecast that Element Fleet Management will post 1.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jacob Eisenberg sold 90,855 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of C$26.26, for a total transaction of C$2,385,852.30. Following the sale, 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 position. Also, insider Jose Manuel Tamayo purchased 2,343 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The stock was bought at an average price of C$24.75 per share, for a total transaction of C$57,989.25. Following the transaction, the insider directly owned 3,844 shares of the company’s stock, valued at C$95,139. This trade represents a 156.10% increase in their position. Corporate insiders own 0.26% of the company’s stock.

Element Fleet Management Company Profile

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.