National Bankshares Forecasts Strong Price Appreciation for Element Fleet Management (TSE:EFN) Stock

Element Fleet Management (TSE:EFN) had its price objective upped by research analysts at National Bankshares from C$48.00 to C$50.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. National Bankshares’ target price would suggest a potential upside of 41.08% from the stock’s previous close.

Several other brokerages have also commented on EFN. Scotiabank boosted their price target on Element Fleet Management from C$40.00 to C$42.00 and gave the stock an “outperform” rating in a research note on Friday, October 24th. Raymond James Financial lifted their price objective on Element Fleet Management from C$40.00 to C$41.00 in a report on Thursday, November 13th. Jefferies Financial Group upped their target price on Element Fleet Management from C$41.00 to C$42.00 in a report on Thursday, October 30th. Finally, Royal Bank Of Canada set a C$47.00 price target on Element Fleet Management and gave the company an “outperform” rating in a research report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of C$43.43.

Element Fleet Management Stock Performance

TSE:EFN opened at C$35.44 on Wednesday. The firm’s fifty day simple moving average is C$35.56 and its 200-day simple moving average is C$36.32. The company has a quick ratio of 5.70, a current ratio of 7.04 and a debt-to-equity ratio of 303.64. The stock has a market cap of C$14.17 billion, a PE ratio of 33.12, a price-to-earnings-growth ratio of 2.97 and a beta of 0.31. Element Fleet Management has a fifty-two week low of C$25.76 and a fifty-two week high of C$38.26.

Element Fleet Management (TSE:EFN) last released its quarterly earnings data on Wednesday, November 12th. The financial services provider reported C$0.33 EPS for the quarter. Element Fleet Management had a net margin of 16.46% and a return on equity of 11.33%. The firm had revenue of C$306.39 million for the quarter. Analysts expect that Element Fleet Management will post 1.6884016 earnings per share for the current fiscal year.

Element Fleet Management Company Profile

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. The company’s suite of fleet management services deals with acquisition and financing, to program management and remarketing. ECN Capital operates across North America in three verticals of the equipment finance market: commercial and vendor finance, rail finance, and commercial aviation finance.