Element Fleet Management Corp (TSE:EFN) had its price target lowered by equities researchers at TD Securities from C$13.50 to C$11.00 in a research note issued to investors on Friday. The brokerage currently has a “hold” rating on the financial services provider’s stock. TD Securities’ price target points to a potential upside of 15.42% from the stock’s previous close.
EFN has been the subject of several other research reports. Royal Bank Of Canada lowered shares of Element Fleet Management Corp from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from C$16.00 to C$13.00 in a research report on Monday, April 24th. Scotiabank reduced their price target on shares of Element Fleet Management Corp from C$14.00 to C$13.00 and set a “sector perform” rating for the company in a research report on Friday, June 2nd. Credit Suisse Group reduced their price target on shares of Element Fleet Management Corp from C$16.00 to C$14.50 in a research report on Thursday, May 11th. CSFB reduced their target price on shares of Element Fleet Management Corp from C$16.00 to C$14.50 in a report on Thursday, May 11th. Finally, Raymond James Financial, Inc. reduced their target price on shares of Element Fleet Management Corp from C$17.00 to C$16.00 and set a “strong-buy” rating for the company in a report on Thursday, May 11th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of C$14.10.
Element Fleet Management Corp (EFN) opened at 9.53 on Friday. Element Fleet Management Corp has a 52-week low of $6.20 and a 52-week high of $16.57. The stock has a 50 day moving average of $9.25 and a 200-day moving average of $11.55. The company has a market capitalization of $3.71 billion and a price-to-earnings ratio of 11.48.
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In other Element Fleet Management Corp news, insider Samir Michael Zabaneh purchased 12,000 shares of the company’s stock in a transaction on Wednesday, June 21st. The stock was acquired at an average cost of C$9.10 per share, for a total transaction of C$109,200.00. Also, Director Paul Damp purchased 5,000 shares of the company’s stock in a transaction on Friday, May 5th. The stock was acquired at an average price of C$25.00 per share, with a total value of C$125,000.00. Insiders purchased a total of 58,160 shares of company stock valued at $751,020 over the last three months.
About Element Fleet Management Corp
Element Financial Corporation is an independentfinancial services company that originates, co-invests in and manages asset-based financings with operations in Canada and the United States. The Company operates in four business verticals: Commercial and Vendor Finance, Aviation Finance, Fleet Management and Rail Finance.
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