CIBC Issues Positive Forecast for Element Fleet Management (TSE:EFN) Stock Price

Element Fleet Management (TSE:EFN) had its price objective lifted by stock analysts at CIBC from C$30.00 to C$33.00 in a note issued to investors on Thursday, BayStreet.CA reports. CIBC’s price target indicates a potential upside of 15.67% from the stock’s current price.

EFN has been the subject of several other reports. Jefferies Financial Group upped their price objective on shares of Element Fleet Management from C$28.00 to C$31.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Royal Bank of Canada increased their target price on Element Fleet Management from C$33.00 to C$35.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. National Bankshares boosted their price objective on shares of Element Fleet Management from C$34.00 to C$37.00 in a research report on Friday, September 27th. Raymond James increased their target price on shares of Element Fleet Management from C$29.00 to C$30.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 14th. Finally, TD Securities increased their price target on Element Fleet Management from C$30.00 to C$32.00 in a research note on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$32.25.

Element Fleet Management Price Performance

EFN stock opened at C$28.53 on Thursday. The firm’s fifty day moving average is C$28.50 and its 200 day moving average is C$25.81. Element Fleet Management has a 52 week low of C$18.92 and a 52 week high of C$30.04. The firm has a market cap of C$11.51 billion, a P/E ratio of 22.29, a P/E/G ratio of 2.97 and a beta of 0.91. The company has a debt-to-equity ratio of 303.14, a quick ratio of 5.70 and a current ratio of 8.22.

Element Fleet Management (TSE:EFN) last issued its earnings results on Tuesday, August 13th. The financial services provider reported C$0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.37 by C$0.03. The firm had revenue of C$375.68 million for the quarter, compared to analysts’ expectations of C$368.46 million. Element Fleet Management had a net margin of 23.41% and a return on equity of 12.58%. Research analysts predict that Element Fleet Management will post 1.6884016 earnings per share for the current year.

Insider Activity at Element Fleet Management

In related news, Senior Officer Laura Lee Dottori-Attanasio purchased 18,000 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was bought at an average cost of C$27.67 per share, for a total transaction of C$498,074.40. 0.26% of the stock is owned by insiders.

Element Fleet Management Company Profile

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.