Element Fleet Management Corp (EFN) Upgraded to Outperform by Royal Bank Of Canada

Royal Bank Of Canada upgraded shares of Element Fleet Management Corp (TSE:EFN) from a sector perform rating to an outperform rating in a research note issued to investors on Monday, July 24th. Royal Bank Of Canada currently has C$13.00 target price on the financial services provider’s stock.

A number of other brokerages have also recently weighed in on EFN. CSFB decreased their price objective on Element Fleet Management Corp from C$16.00 to C$14.50 in a research note on Thursday, May 11th. Raymond James Financial, Inc. decreased their price objective on Element Fleet Management Corp from C$17.00 to C$16.00 and set a strong-buy rating for the company in a research note on Thursday, May 11th. TD Securities decreased their price objective on Element Fleet Management Corp from C$15.00 to C$13.00 and set a hold rating for the company in a research note on Friday, May 5th. Scotiabank decreased their price target on Element Fleet Management Corp from C$14.00 to C$13.00 and set a sector perform rating for the company in a research note on Friday, June 2nd. Finally, Barclays PLC decreased their price target on Element Fleet Management Corp from C$15.00 to C$14.00 and set an overweight rating for the company in a research note on Monday, May 8th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and a consensus price target of C$13.70.

Shares of Element Fleet Management Corp (TSE EFN) opened at 8.50 on Monday. The company has a market capitalization of $3.31 billion and a price-to-earnings ratio of 10.24. Element Fleet Management Corp has a one year low of $6.20 and a one year high of $16.57. The company’s 50 day moving average is $9.17 and its 200 day moving average is $11.38.

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In related news, insider Samir Michael Zabaneh acquired 12,000 shares of Element Fleet Management Corp stock in a transaction that occurred on Wednesday, June 21st. The shares were purchased at an average price of C$9.10 per share, for a total transaction of C$109,200.00. Also, insider James Halliday acquired 13,160 shares of Element Fleet Management Corp stock in a transaction that occurred on Thursday, June 1st. The shares were bought at an average price of C$9.50 per share, for a total transaction of C$125,020.00. Insiders have acquired 45,160 shares of company stock worth $426,020 in the last quarter.

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.