Element Fleet Management (TSE:EFN) Given New C$33.00 Price Target at CIBC

Element Fleet Management (TSE:EFN) had its price objective raised by CIBC from C$30.00 to C$33.00 in a research note published on Thursday morning, BayStreet.CA reports.

Other analysts also recently issued reports about the stock. TD Securities upped their target price on shares of Element Fleet Management from C$30.00 to C$32.00 in a research report on Friday, September 20th. Scotiabank upped their price objective on shares of Element Fleet Management from C$27.00 to C$28.00 in a report on Wednesday, July 24th. Raymond James raised their target price on shares of Element Fleet Management from C$29.00 to C$30.00 and gave the company a “strong-buy” rating in a research note on Wednesday, August 14th. Jefferies Financial Group boosted 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. Finally, Royal Bank of Canada raised their price target 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. One investment analyst has rated the stock with a sell rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Element Fleet Management presently has a consensus rating of “Moderate Buy” and a consensus price target of C$32.25.

Element Fleet Management Stock Performance

Shares of EFN opened at C$28.53 on Thursday. Element Fleet Management has a one year low of C$18.92 and a one year high of C$30.04. The company has a 50-day simple moving average of C$28.50 and a two-hundred day simple moving average of C$25.87. The company has a debt-to-equity ratio of 303.14, a current ratio of 8.22 and a quick ratio of 5.70. The firm has a market capitalization of C$11.51 billion, a PE ratio of 22.29, a price-to-earnings-growth ratio of 2.97 and a beta of 0.91.

Element Fleet Management (TSE:EFN) last released its earnings results on Tuesday, August 13th. The financial services provider reported C$0.40 EPS for the quarter, beating analysts’ consensus estimates of C$0.37 by C$0.03. The company had revenue of C$375.68 million during the quarter, compared to analysts’ expectations of C$368.46 million. Element Fleet Management had a return on equity of 12.58% and a net margin of 23.41%. On average, analysts anticipate that Element Fleet Management will post 1.6884016 EPS for the current fiscal year.

Element Fleet Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 15th were given a $0.12 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.48 annualized dividend and a yield of 1.68%. Element Fleet Management’s payout ratio is 37.50%.

Insider Activity

In other Element Fleet Management news, Senior Officer Laura Lee Dottori-Attanasio bought 18,000 shares of the business’s 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. Insiders own 0.26% 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.