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

Jefferies Financial Group cut shares of Element Fleet Management (TSE:EFN) from a buy rating to a hold rating in a research note published on Friday morning,BayStreet.CA reports. Jefferies Financial Group currently has C$30.00 target price on the financial services provider’s stock, down from their prior target price of C$32.00.

EFN has been the subject of a number of other reports. Scotiabank lowered their price target on Element Fleet Management from C$33.00 to C$32.00 in a research note on Thursday. CIBC boosted their price objective on Element Fleet Management from C$30.00 to C$33.00 in a research report on Thursday, October 31st. BMO Capital Markets increased their price objective on shares of Element Fleet Management from C$28.00 to C$32.00 in a research report on Thursday, August 15th. National Bankshares lifted their price target on Element Fleet Management from C$37.00 to C$39.00 in a research note on Thursday. Finally, TD Securities boosted their target price on Element Fleet Management from C$32.00 to C$33.00 and gave the company a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$33.50.

Element Fleet Management Stock Performance

Shares of TSE:EFN opened at C$27.11 on Friday. Element Fleet Management has a 1-year low of C$20.62 and a 1-year high of C$30.04. The business has a 50-day moving average price of C$28.66 and a two-hundred day moving average price of C$26.33. The company has a current ratio of 8.22, a quick ratio of 5.70 and a debt-to-equity ratio of 303.14. The stock 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.

Element Fleet Management Dividend Announcement

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

Insider Buying and Selling at Element Fleet Management

In other Element Fleet Management news, Senior Officer Laura Lee Dottori-Attanasio bought 18,000 shares of Element Fleet Management stock in a transaction dated 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. 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.