Jefferies Financial Group Downgrades Element Fleet Management (TSE:EFN) to Hold

Element Fleet Management (TSE:EFN) was downgraded by equities research analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday,BayStreet.CA reports. They currently have a C$30.00 price target on the financial services provider’s stock, down from their prior price target of C$32.00. Jefferies Financial Group’s target price points to a potential upside of 8.70% from the stock’s current price.

Several other brokerages also recently commented on EFN. Scotiabank dropped their price target on Element Fleet Management from C$33.00 to C$32.00 in a research report on Thursday. National Bankshares lifted their price target on Element Fleet Management from C$37.00 to C$39.00 in a research report on Thursday. TD Securities lifted their price target on Element Fleet Management from C$32.00 to C$33.00 and gave the stock a “buy” rating in a research report on Thursday. Raymond James lifted their price target on Element Fleet Management from C$30.00 to C$34.00 in a research report on Thursday. Finally, Royal Bank of Canada boosted their price objective on Element Fleet Management from C$33.00 to C$35.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$33.50.

Element Fleet Management Stock Up 2.0 %

Shares of Element Fleet Management stock traded up C$0.53 during trading on Friday, hitting C$27.60. 289,616 shares of the stock traded hands, compared to its average volume of 543,665. The stock has a market cap of C$11.14 billion, a P/E ratio of 21.52, a PEG 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 has a twelve month low of C$20.62 and a twelve month high of C$30.04. The company has a fifty day moving average price of C$28.68 and a two-hundred day moving average price of C$26.22.

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

Insider Transactions at Element Fleet Management

In other Element Fleet Management news, Senior Officer Laura Lee Dottori-Attanasio purchased 18,000 shares of the company’s stock in a transaction dated 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 currently 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.