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

Element Fleet Management (TSE:EFN) had its price target cut by Scotiabank from C$33.00 to C$32.00 in a research report sent to investors on Thursday morning,BayStreet.CA reports.

A number of other equities research analysts also recently weighed in on EFN. CIBC raised their target price on Element Fleet Management from C$30.00 to C$33.00 in a report on Thursday, October 31st. National Bankshares raised their price objective on Element Fleet Management from C$34.00 to C$37.00 in a research note on Friday, September 27th. Raymond James boosted their target price on Element Fleet Management from C$29.00 to C$30.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, August 14th. TD Securities raised their price target on shares of Element Fleet Management from C$32.00 to C$33.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Jefferies Financial Group lifted their price target on shares of Element Fleet Management from C$28.00 to C$31.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. 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 MarketBeat, Element Fleet Management has a consensus rating of “Moderate Buy” and an average price target of C$33.50.

Element Fleet Management Stock Performance

TSE EFN opened at C$27.11 on Thursday. The firm’s 50 day simple moving average is C$28.66 and its 200 day simple moving average is C$26.33. The firm has a market capitalization of C$10.94 billion, a price-to-earnings ratio of 21.18, a P/E/G ratio of 2.97 and a beta of 0.91. The company has a current ratio of 8.22, a quick ratio of 5.70 and a debt-to-equity ratio of 303.14. Element Fleet Management has a 1 year low of C$20.62 and a 1 year high of C$30.04.

Element Fleet Management Announces Dividend

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

Insider Buying and Selling

In other news, Senior Officer Laura Lee Dottori-Attanasio bought 18,000 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was acquired at an average price of C$27.67 per share, with a total value of C$498,074.40. 0.26% of the stock is currently owned by insiders.

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.