Element Fleet Management (TSE:EFN) Reaches New 1-Year High Following Analyst Upgrade

Element Fleet Management Corp. (TSE:EFN) reached a new 52-week high during trading on Monday after National Bankshares raised their price target on the stock from C$47.00 to C$48.00. National Bankshares currently has an outperform rating on the stock. Element Fleet Management traded as high as C$38.18 and last traded at C$38.13, with a volume of 100416 shares changing hands. The stock had previously closed at C$37.71.

Several other equities analysts have also commented on the stock. TD Securities upped their price target on shares of Element Fleet Management from C$41.00 to C$42.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Scotiabank boosted their target price on shares of Element Fleet Management from C$40.00 to C$42.00 and gave the company an “outperform” rating in a research note on Friday. BMO Capital Markets boosted their price objective on Element Fleet Management from C$35.00 to C$40.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Royal Bank Of Canada boosted their price objective on Element Fleet Management from C$43.00 to C$47.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Finally, Raymond James Financial boosted their price objective on Element Fleet Management from C$36.00 to C$40.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$40.38.

Insiders Place Their Bets

In other news, insider Heath Leslie Valkenburg bought 813 shares of the business’s stock in a transaction on Wednesday, September 10th. The stock was purchased at an average cost of C$36.90 per share, for a total transaction of C$29,999.70. Following the completion of the transaction, the insider directly owned 4,153 shares of the company’s stock, valued at approximately C$153,245.70. This trade represents a 24.34% increase in their position. 0.26% of the stock is owned by company insiders.

Element Fleet Management Stock Up 1.1%

The company has a market capitalization of C$15.30 billion, a price-to-earnings ratio of 38.11, a P/E/G ratio of 2.97 and a beta of 0.49. The stock’s fifty day simple moving average is C$36.79 and its two-hundred day simple moving average is C$34.54. The company has a debt-to-equity ratio of 303.64, a quick ratio of 5.70 and a current ratio of 7.04.

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.