Element Fleet Management (TSE:EFN) Hits New 1-Year Low After Analyst Downgrade

Element Fleet Management Corp. (TSE:EFN – Get Free Report)’s stock price reached a new 52-week low during trading on Monday after TD lowered their price target on the stock from C$38.00 to C$31.00. TD currently has a buy rating on the stock. Element Fleet Management traded as low as C$21.04 and last traded at C$21.06, with a volume of 154,915 shares traded. The stock had previously closed at C$21.53.

A number of other research analysts also recently issued reports on the company. RBC Dominion Securities cut 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 research note on Thursday, October 15th. Raymond James Financial decreased their target price on shares of Element Fleet Management from C$42.00 to C$32.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 6th. Eight analysts have rated the stock with a Buy rating. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of C$38.88.

Check Out Our Latest Stock Analysis on EFN

Insiders Place Their Bets

In other Element Fleet Management news, insider Jacob Eisenberg sold 90,855 shares of Element Fleet Management stock in a transaction that occurred on 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 sale, the insider owned 64,897 shares of the company’s stock, valued at C$1,704,195.22. The trade was 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 shares were acquired at an average cost of C$24.75 per share, for a total transaction of C$57,989.25. Following the purchase, the insider owned 3,844 shares of the company’s stock, valued at C$95,139. This represents a 156.10% increase in their ownership of the stock. 0.26% of the stock is currently owned by corporate insiders.

Element Fleet Management Stock Down 0.5%

The company has a debt-to-equity ratio of 357.23, a quick ratio of 5.70 and a current ratio of -1,179.03. The company’s fifty day moving average price is C$24.73 and its 200-day moving average price is C$27.89. The stock has a market cap of C$8.33 billion, a P/E ratio of 28.76, a price-to-earnings-growth ratio of 2.97 and a beta of 0.60.

Element Fleet Management (TSE:EFN – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported C$0.48 earnings per share (EPS) for the quarter. The company had revenue of C$451.94 million during the quarter. Element Fleet Management had a return on equity of 10.57% and a net margin of 12.17%. Equities analysts forecast that Element Fleet Management Corp. will post 1.69 EPS for the current year.

Element Fleet Management Company Profile

(Get Free Report)

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.

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