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

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

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

Element Fleet Management Stock Performance

Shares of EFN opened at C$27.11 on Thursday. Element Fleet Management has a one year low of C$20.62 and a one year high of C$30.04. The stock has a 50-day moving average of C$28.66 and a two-hundred day moving average of C$26.30. The company has a debt-to-equity ratio of 303.14, a quick ratio of 5.70 and a current ratio of 8.22. The stock has a market cap 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.

Element Fleet Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 15th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend was Friday, September 27th. Element Fleet Management’s dividend payout ratio (DPR) is presently 37.50%.

Insider Transactions at Element Fleet Management

In other news, Senior Officer Laura Lee Dottori-Attanasio acquired 18,000 shares of Element Fleet Management stock in a transaction on Thursday, September 5th. The stock was bought at an average price of C$27.67 per share, for a total transaction of C$498,074.40. Corporate 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.