Element Fleet Management (TSE:EFN) Given New C$13.00 Price Target at Royal Bank of Canada

Element Fleet Management (TSE:EFN) had its price objective raised by Royal Bank of Canada from C$12.00 to C$13.00 in a research note released on Thursday morning, BayStreet.CA reports. They currently have a top pick rating on the financial services provider’s stock.

EFN has been the topic of several other research reports. TD Securities boosted their target price on shares of Element Fleet Management from C$11.00 to C$12.00 and gave the stock a buy rating in a report on Thursday. Raymond James set a C$12.50 target price on shares of Element Fleet Management and gave the stock a strong-buy rating in a report on Tuesday. National Bank Financial boosted their target price on shares of Element Fleet Management from C$10.00 to C$12.00 and gave the stock an outperform rating in a report on Wednesday, May 8th. CIBC boosted their target price on shares of Element Fleet Management from C$10.00 to C$12.00 in a report on Wednesday, May 8th. Finally, BMO Capital Markets boosted their target price on shares of Element Fleet Management from C$10.00 to C$12.00 in a report on Thursday, May 9th. One research analyst has rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of C$11.38.

TSE:EFN traded down C$0.35 during trading hours on Thursday, hitting C$10.11. 1,294,872 shares of the stock traded hands, compared to its average volume of 928,440. The company has a current ratio of 12.29, a quick ratio of 11.77 and a debt-to-equity ratio of 347.86. Element Fleet Management has a 1 year low of C$5.80 and a 1 year high of C$10.94. The stock has a market capitalization of $4.54 billion and a P/E ratio of -22.17. The firm has a 50 day moving average of C$9.97.

Element Fleet Management (TSE:EFN) last issued its quarterly earnings results on Tuesday, May 7th. The financial services provider reported C$0.20 earnings per share for the quarter, beating the consensus estimate of C$0.18 by C$0.02. The firm had revenue of C$242.23 million for the quarter, compared to analysts’ expectations of C$231.00 million. As a group, research analysts forecast that Element Fleet Management will post 1.01 earnings per share for the current year.

Element Fleet Management Company Profile

Element Fleet Management Corp. operates as a fleet management company in Canada, the United States, and internationally. The company offers fleet management services, including acquisition, financing, program management, and remarketing services for cars and light duty vehicles, medium and heavy duty trucks, material handling equipment, automobiles, and specialty vehicles and equipment, as well as corporate, municipal, and industrial fleets.

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Analyst Recommendations for Element Fleet Management (TSE:EFN)

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