National Bankshares Raises Element Fleet Management (TSE:EFN) Price Target to C$37.00

Element Fleet Management (TSE:EFN) had its price objective upped by National Bankshares from C$34.00 to C$37.00 in a research report sent to investors on Friday morning, BayStreet.CA reports.

Several other research firms also recently issued reports on EFN. TD Securities increased their price objective on shares of Element Fleet Management from C$30.00 to C$32.00 in a report on Friday, September 20th. Scotiabank lifted their price objective on Element Fleet Management from C$27.00 to C$28.00 in a report on Wednesday, July 24th. CIBC boosted their price objective on Element Fleet Management from C$28.00 to C$30.00 and gave the stock an outperform rating in a research note on Monday, July 29th. Royal Bank of Canada raised their target price on Element Fleet Management from C$33.00 to C$35.00 and gave the company an outperform rating in a research report on Wednesday, August 14th. Finally, Jefferies Financial Group boosted their price target on Element Fleet Management from C$28.00 to C$31.00 and gave the stock a buy rating in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of C$31.88.

Element Fleet Management Stock Performance

TSE EFN opened at C$28.76 on Friday. The stock has a market capitalization of C$11.61 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 2.97 and a beta of 0.91. The stock has a 50-day moving average of C$27.14 and a 200 day moving average of C$24.67. 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 twelve month low of C$18.50 and a twelve month high of C$28.89.

Element Fleet Management (TSE:EFN) last announced its earnings results on Tuesday, August 13th. The financial services provider reported C$0.40 earnings per share for the quarter, topping the consensus estimate of C$0.37 by C$0.03. Element Fleet Management had a return on equity of 12.58% and a net margin of 23.41%. The business had revenue of C$375.68 million during the quarter, compared to the consensus estimate of C$368.46 million. Sell-side analysts anticipate that Element Fleet Management will post 1.6895933 EPS for the current fiscal year.

Element Fleet Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 15th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.48 dividend on an annualized basis and a yield of 1.67%. Element Fleet Management’s payout ratio is 38.10%.

Insider Buying and Selling at Element Fleet Management

In related news, Senior Officer Laura Lee Dottori-Attanasio purchased 18,000 shares of Element Fleet Management stock in a transaction dated Thursday, September 5th. The shares were acquired at an average price of C$27.67 per share, for a total transaction of C$498,074.40. 0.23% of the stock is owned by company 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.