Element Fleet Management (TSE:EFN) Given New C$34.00 Price Target at CIBC

Element Fleet Management (TSE:EFN) had its price objective boosted by analysts at CIBC from C$33.00 to C$34.00 in a research note issued on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. CIBC’s price objective would suggest a potential upside of 19.09% from the company’s current price.

A number of other equities research analysts also recently commented on the company. TD Securities upped 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, November 14th. National Bankshares upped their price target on Element Fleet Management from C$37.00 to C$39.00 in a research note on Thursday, November 14th. Jefferies Financial Group lowered shares of Element Fleet Management from a “buy” rating to a “hold” rating and reduced their price objective for the stock from C$32.00 to C$30.00 in a research note on Friday, November 15th. Raymond James upped their target price on shares of Element Fleet Management from C$30.00 to C$34.00 in a research note on Thursday, November 14th. Finally, Scotiabank reduced their price target on shares of Element Fleet Management from C$33.00 to C$32.00 in a research report on Thursday, November 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$33.63.

Element Fleet Management Price Performance

EFN opened at C$28.55 on Thursday. The company has a fifty day moving average price of C$29.12 and a two-hundred day moving average price of C$28.22. The firm has a market capitalization of C$11.52 billion, a PE ratio of 22.30, a P/E/G ratio of 2.97 and a beta of 0.91. Element Fleet Management has a 52 week low of C$21.20 and a 52 week high of C$30.49. The company has a debt-to-equity ratio of 303.14, a quick ratio of 5.70 and a current ratio of 8.22.

Insiders Place Their Bets

In other news, Senior Officer James Halliday sold 33,664 shares of Element Fleet Management stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of C$30.00, for a total value of C$1,009,920.00. Also, Senior Officer Laura Lee Dottori-Attanasio bought 2,500 shares of Element Fleet Management stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average price of C$28.78 per share, with a total value of C$71,950.00. In the last 90 days, insiders bought 19,625 shares of company stock worth $562,999 and sold 38,948 shares worth $1,154,902. Corporate insiders own 0.26% of the company’s stock.

About Element Fleet Management

Element Financial separated into two independent public companies in October 2016. The former company now consists of Element Fleet Management, a global fleet management company, and ECN Capital, a commercial finance company. Element Fleet Management provides management services and financing for commercial vehicle and equipment fleets.