Element Fleet Management (TSE:EFN) Cut to Hold at Jefferies Financial Group

Jefferies Financial Group downgraded shares of Element Fleet Management (TSE:EFN) from a buy rating to a hold rating in a research note released on Friday,BayStreet.CA reports. The brokerage currently has C$30.00 price target on the financial services provider’s stock, down from their previous price target of C$32.00.

A number of other research firms have also issued reports on EFN. Scotiabank reduced their target price on Element Fleet Management from C$33.00 to C$32.00 in a report on Thursday. National Bankshares increased their price objective on Element Fleet Management from C$37.00 to C$39.00 in a report on Thursday. BMO Capital Markets lifted their price objective on shares of Element Fleet Management from C$28.00 to C$32.00 in a research note on Thursday, August 15th. CIBC upped their price target on Element Fleet Management from C$30.00 to C$33.00 in a research note on Thursday, October 31st. Finally, TD Securities increased their price target on Element Fleet Management from C$32.00 to C$33.00 and gave the company a “buy” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on 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 Trading Up 0.1 %

TSE:EFN opened at C$27.11 on Friday. The stock has a fifty day simple moving average of C$28.66 and a 200 day simple moving average of C$26.33. 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 firm has a market capitalization of C$10.94 billion, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of 2.97 and a beta of 0.91. Element Fleet Management has a 1-year low of C$20.62 and a 1-year high of C$30.04.

Element Fleet Management Announces Dividend

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

Insider Activity at Element Fleet Management

In other news, Senior Officer Laura Lee Dottori-Attanasio bought 18,000 shares of Element Fleet Management stock in a transaction that occurred on Thursday, September 5th. The stock was purchased at an average cost of C$27.67 per share, with a total value of C$498,074.40. 0.26% of the stock is owned by corporate insiders.

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.