Insider Buying: Element Fleet Management (TSE:EFN) Insider Acquires C$248,325.00 in Stock

Element Fleet Management Corp. (TSE:EFN) insider Laura Lee Dottori-Attanasio purchased 12,900 shares of the business’s stock in a transaction that occurred on Friday, November 6th. The stock was acquired at an average price of C$19.25 per share, with a total value of C$248,325.00. Following the purchase, the insider owned 505,600 shares in the company, valued at C$9,732,800. This represents a 2.62% increase in their ownership of the stock.

Element Fleet Management Stock Performance

TSE EFN opened at C$19.65 on Thursday. The stock has a market capitalization of C$7.63 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 2.97 and a beta of 0.57. Element Fleet Management Corp. has a twelve month low of C$19.11 and a twelve month high of C$38.00. The company has a current ratio of -1,737.58, a quick ratio of 5.70 and a debt-to-equity ratio of 359.10. The stock has a 50-day moving average of C$22.75 and a 200 day moving average of C$28.49.

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 (EPS) for the quarter. Element Fleet Management had a return on equity of 10.87% and a net margin of 12.29%. The company had revenue of C$456.57 million for the quarter. Sell-side analysts anticipate that Element Fleet Management Corp. will post 1.69 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. National Bank Financial decreased their target price on Element Fleet Management from C$35.00 to C$30.00 and set an “outperform” rating on the stock in a research report on Thursday, November 5th. TD cut shares of Element Fleet Management from a “buy” rating to a “hold” rating and dropped their price target for the company from C$31.00 to C$22.00 in a research note on Wednesday, November 4th. Scotia cut their price target 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 report on Monday, October 26th. Raymond James Financial reduced their price objective 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 report on Tuesday, October 6th. Finally, TD Securities cut shares of Element Fleet Management from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 4th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$32.86.

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.