Raymond James Raises Element Fleet Management (TSE:EFN) Price Target to C$34.00

Element Fleet Management (TSE:EFN) had its price objective increased by Raymond James from C$30.00 to C$34.00 in a research report released on Thursday,BayStreet.CA reports.

A number of other brokerages have also recently issued reports on EFN. TD Securities boosted their target price on shares of Element Fleet Management from C$32.00 to C$33.00 and gave the company a “buy” rating in a report on Thursday. CIBC upped their target price on Element Fleet Management from C$30.00 to C$33.00 in a research note on Thursday, October 31st. Jefferies Financial Group lifted their price target on Element Fleet Management from C$28.00 to C$31.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Royal Bank of Canada upped their price objective on shares of Element Fleet Management from C$33.00 to C$35.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Finally, Scotiabank dropped their target price on shares of Element Fleet Management from C$33.00 to C$32.00 in a research report on Thursday. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$33.50.

Element Fleet Management Price Performance

EFN opened at C$27.11 on Thursday. The firm has a 50-day moving average price of C$28.66 and a 200-day moving average price of C$26.33. Element Fleet Management has a twelve month low of C$20.62 and a twelve month high of C$30.04. The company has a quick ratio of 5.70, a current ratio of 8.22 and a debt-to-equity ratio of 303.14. The company has a market capitalization of C$10.94 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 2.97 and a beta of 0.91.

Element Fleet Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 15th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.77%. The ex-dividend date was Friday, September 27th. Element Fleet Management’s dividend payout ratio (DPR) is presently 37.50%.

Insider Transactions at Element Fleet Management

In related news, Senior Officer Laura Lee Dottori-Attanasio acquired 18,000 shares of Element Fleet Management stock in a transaction dated Thursday, September 5th. The shares were purchased at an average cost of C$27.67 per share, with a total value of C$498,074.40. Company insiders own 0.26% of the company’s stock.

Element Fleet Management Company Profile

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.