Element Fleet Management Corp (TSE:EFN) was downgraded by analysts at Raymond James Financial, Inc. from a “strong-buy” rating to an “outperform” rating in a report released on Thursday, StockTargetPrices.com reports. They currently have a C$13.00 target price on the financial services provider’s stock, down from their previous target price of C$16.00. Raymond James Financial, Inc.’s price objective indicates a potential upside of 49.43% from the company’s current price.
A number of other equities analysts also recently weighed in on the company. Credit Suisse Group reduced their price target on Element Fleet Management Corp from C$16.00 to C$14.50 in a research report on Thursday, May 11th. Barclays PLC reduced 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 report on Monday, May 8th. CSFB reduced their price target on Element Fleet Management Corp from C$16.00 to C$14.50 in a research report on Thursday, May 11th. Royal Bank Of Canada downgraded Element Fleet Management Corp from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from C$16.00 to C$13.00 in a research report on Monday, April 24th. Finally, TD Securities reduced their price target on Element Fleet Management Corp from C$13.50 to C$11.00 and set a “hold” rating for the company in a research report on Friday, July 28th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of C$11.20.
Shares of Element Fleet Management Corp (TSE EFN) traded up 0.57% during trading on Thursday, reaching $8.75. 795,166 shares of the company traded hands. The stock’s 50 day moving average price is $9.13 and its 200-day moving average price is $11.24. Element Fleet Management Corp has a 12 month low of $6.20 and a 12 month high of $16.57. The stock has a market cap of $3.39 billion and a P/E ratio of 13.06.
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In related news, insider Kristi Webb acquired 20,000 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were bought at an average price of C$9.59 per share, for a total transaction of C$191,800.00. Also, insider Samir Michael Zabaneh acquired 12,000 shares of the company’s stock in a transaction dated Wednesday, June 21st. The shares were bought at an average price of C$9.10 per share, for a total transaction of C$109,200.00. In the last quarter, insiders have bought 45,160 shares of company stock worth $426,020.
Element Fleet Management Corp Company Profile
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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