Element Fleet Management (TSE:EFN) Upgraded at Scotiabank

Element Fleet Management (TSE:EFN) was upgraded by stock analysts at Scotiabank from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. The brokerage presently has a C$26.00 price objective on the financial services provider’s stock. Scotiabank’s target price suggests a potential upside of 18.18% from the stock’s current price.

EFN has been the subject of a number of other research reports. Veritas Investment Research reissued a “reduce” rating on shares of Element Fleet Management in a research report on Thursday, February 29th. CIBC lifted their price objective on shares of Element Fleet Management from C$24.00 to C$25.00 and gave the company an “outperform” rating in a research report on Wednesday, February 28th. Royal Bank of Canada lifted their target price on shares of Element Fleet Management from C$30.00 to C$31.00 and gave the stock an “outperform” rating in a report on Thursday, January 4th. BMO Capital Markets lifted their target price on shares of Element Fleet Management from C$24.00 to C$26.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Finally, TD Securities lifted their target price on shares of Element Fleet Management from C$25.00 to C$27.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. One analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$27.63.

Element Fleet Management Stock Performance

Shares of EFN traded up C$0.23 during midday trading on Tuesday, reaching C$22.00. The stock had a trading volume of 325,529 shares, compared to its average volume of 518,373. The firm has a 50 day simple moving average of C$22.09 and a 200-day simple moving average of C$21.60. Element Fleet Management has a one year low of C$17.13 and a one year high of C$23.46. The firm has a market cap of C$8.56 billion, a PE ratio of 19.79, a P/E/G ratio of 2.97 and a beta of 0.84. The company has a current ratio of 6.78, a quick ratio of 5.70 and a debt-to-equity ratio of 280.50.

Element Fleet Management (TSE:EFN) last announced its quarterly earnings data on Tuesday, February 27th. The financial services provider reported C$0.33 EPS for the quarter, beating analysts’ consensus estimates of C$0.32 by C$0.01. Element Fleet Management had a net margin of 23.38% and a return on equity of 12.30%. The company had revenue of C$333.36 million during the quarter, compared to the consensus estimate of C$334.92 million. As a group, sell-side analysts anticipate that Element Fleet Management will post 1.4296824 EPS for the current year.

Insiders Place Their Bets

In other Element Fleet Management news, Senior Officer Yu Xiang Jin acquired 2,500 shares of the company’s stock in a transaction on Monday, March 25th. The stock was acquired at an average price of C$22.02 per share, for a total transaction of C$55,050.00. In other news, Senior Officer Yu Xiang Jin bought 2,500 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was bought at an average cost of C$22.02 per share, for a total transaction of C$55,050.00. Also, Senior Officer James Halliday sold 33,664 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of C$23.01, for a total transaction of C$774,608.64. Corporate insiders own 0.24% of the company’s stock.

About Element Fleet Management

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.