Element Fleet Management (TSE:EFN) Rating Lowered to “Outperform” at Raymond James Financial

Element Fleet Management (TSE:EFN) was downgraded by analysts at Raymond James Financial from a “strong-buy” rating to an “outperform” rating in a report issued on Thursday,BayStreet.CA reports. They presently have a C$42.00 target price on the financial services provider’s stock, down from their prior target price of C$42.50. Raymond James Financial’s price objective would suggest a potential upside of 42.81% from the company’s previous close.

Several other research analysts also recently weighed in on the stock. Royal Bank Of Canada set a C$47.00 target price on shares of Element Fleet Management and gave the company an “outperform” rating in a research note on Monday, January 26th. TD Securities lowered their price target on shares of Element Fleet Management from C$42.00 to C$41.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Jefferies Financial Group raised shares of Element Fleet Management from a “hold” rating to a “buy” rating in a research report on Monday, February 23rd. Finally, National Bank Financial upped their price objective on shares of Element Fleet Management from C$48.00 to C$50.00 and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Seven equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Element Fleet Management presently has an average rating of “Buy” and an average price target of C$43.43.

Element Fleet Management Price Performance

TSE:EFN traded down C$1.56 during trading hours on Thursday, reaching C$29.41. 918,242 shares of the company traded hands, compared to its average volume of 859,255. The company has a debt-to-equity ratio of 363.75, a current ratio of 4.05 and a quick ratio of 5.70. The firm’s 50-day moving average is C$31.69 and its 200-day moving average is C$34.40. The stock has a market cap of C$11.68 billion, a P/E ratio of 42.62, a P/E/G ratio of 2.97 and a beta of 0.32. Element Fleet Management has a 1-year low of C$29.07 and a 1-year high of C$38.26.

Element Fleet Management (TSE:EFN) last released its quarterly earnings results on Wednesday, February 25th. The financial services provider reported C$0.45 earnings per share for the quarter. Element Fleet Management had a return on equity of 10.09% and a net margin of 12.07%.The company had revenue of C$430.19 million during the quarter. Equities research analysts expect that Element Fleet Management will post 1.6884016 earnings per share for the current fiscal year.

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. The company’s suite of fleet management services deals with acquisition and financing, to program management and remarketing. ECN Capital operates across North America in three verticals of the equipment finance market: commercial and vendor finance, rail finance, and commercial aviation finance.