CIBC Issues Positive Forecast for Element Fleet Management (TSE:EFN) Stock Price

Element Fleet Management (TSE:EFN) had its price objective boosted by equities researchers at CIBC from C$33.00 to C$34.00 in a research note issued on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the financial services provider’s stock. CIBC’s target price would suggest a potential upside of 16.76% from the company’s current price.

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

Element Fleet Management Stock Up 0.9 %

Shares of EFN stock traded up C$0.25 during trading on Thursday, hitting C$29.12. 78,603 shares of the company were exchanged, compared to its average volume of 399,990. The firm has a market capitalization of C$11.75 billion, a price-to-earnings ratio of 22.75, a P/E/G ratio of 2.97 and a beta of 0.91. 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 business’s 50-day simple moving average is C$29.13 and its 200 day simple moving average is C$28.19. Element Fleet Management has a twelve month low of C$21.20 and a twelve month high of C$30.49.

Insider Transactions at Element Fleet Management

In related news, Senior Officer Carlos David Madrigal Gonzalez bought 3,375 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was acquired at an average price of C$28.92 per share, for a total transaction of C$97,618.50. Also, Senior Officer Laura Lee Dottori-Attanasio acquired 2,500 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were bought at an average price of C$28.78 per share, with a total value of C$71,950.00. In the last three months, insiders acquired 19,625 shares of company stock valued at $562,999 and sold 38,948 shares valued at $1,154,902. 0.26% of the stock is owned by insiders.

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.