Scotiabank Cuts Element Fleet Management (TSE:EFN) Price Target to C$32.00

Element Fleet Management (TSE:EFN) had its price objective trimmed by Scotiabank from C$33.00 to C$32.00 in a research note published on Thursday morning,BayStreet.CA reports.

Several other equities analysts have also issued reports on EFN. Jefferies Financial Group lifted their price target on Element Fleet Management from C$28.00 to C$31.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. National Bankshares increased their price objective on shares of Element Fleet Management from C$34.00 to C$37.00 in a research note on Friday, September 27th. CIBC upped their price target on Element Fleet Management from C$30.00 to C$33.00 in a research report on Thursday, October 31st. Royal Bank of Canada upped their target price on shares of Element Fleet Management from C$33.00 to C$35.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Finally, BMO Capital Markets upped their target price on shares of Element Fleet Management from C$28.00 to C$32.00 in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$33.50.

Element Fleet Management Stock Performance

Shares of Element Fleet Management stock opened at C$27.11 on Thursday. The firm has a market capitalization of C$10.94 billion, a P/E ratio of 21.18, a P/E/G ratio of 2.97 and a beta of 0.91. The company has a current ratio of 8.22, a quick ratio of 5.70 and a debt-to-equity ratio of 303.14. Element Fleet Management has a 12 month low of C$20.62 and a 12 month high of C$30.04. The business has a fifty day simple moving average of C$28.66 and a two-hundred day simple moving average of C$26.30.

Element Fleet Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 15th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date was Friday, September 27th. Element Fleet Management’s dividend payout ratio (DPR) is 37.50%.

Insiders Place Their Bets

In other news, Senior Officer Laura Lee Dottori-Attanasio acquired 18,000 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were bought at an average price of C$27.67 per share, with a total value of C$498,074.40. 0.26% of the stock is owned by insiders.

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.