Royal Bank Of Canada upgraded shares of Element Fleet Management Corp (TSE:EFN) from a sector perform rating to an outperform rating in a research note published on Monday, July 24th. Royal Bank Of Canada currently has C$13.00 target price on the financial services provider’s stock.
A number of other equities analysts also recently issued reports on the stock. Credit Suisse Group dropped their price objective on shares of Element Fleet Management Corp from C$16.00 to C$14.50 in a research note on Thursday, May 11th. Barclays PLC dropped their price objective on shares of Element Fleet Management Corp from C$15.00 to C$14.00 and set an overweight rating on the stock in a research note on Monday, May 8th. CSFB dropped their price objective on shares of Element Fleet Management Corp from C$16.00 to C$14.50 in a research note on Thursday, May 11th. TD Securities dropped their price objective on shares of Element Fleet Management Corp from C$15.00 to C$13.00 and set a hold rating on the stock in a research note on Friday, May 5th. Finally, Scotiabank decreased their target price on shares of Element Fleet Management Corp from C$14.00 to C$13.00 and set a sector perform rating for the company in a research report on Friday, June 2nd. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of C$11.20.
Shares of Element Fleet Management Corp (TSE EFN) traded up 1.50% on Monday, hitting $8.82. The stock had a trading volume of 1,965,064 shares. The company has a 50 day moving average price of $9.13 and a 200-day moving average price of $11.19. Element Fleet Management Corp has a 12 month low of $6.20 and a 12 month high of $16.57. The stock has a market cap of $3.42 billion and a PE ratio of 13.16.
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The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.30 dividend on an annualized basis and a yield of 3.40%.
In related news, insider Samir Michael Zabaneh purchased 12,000 shares of the firm’s stock in a transaction on Wednesday, June 21st. The stock was acquired at an average price of C$9.10 per share, with a total value of C$109,200.00. Also, insider Kristi Webb purchased 20,000 shares of the firm’s stock in a transaction on Friday, June 2nd. The stock was bought at an average cost of C$9.59 per share, with a total value of C$191,800.00. Insiders have purchased 45,160 shares of company stock valued at $426,020 in the last three months.
About Element Fleet Management Corp
Element Financial Corporation is an independentfinancial services company that originates, co-invests in and manages asset-based financings with operations in Canada and the United States. The Company operates in four business verticals: Commercial and Vendor Finance, Aviation Finance, Fleet Management and Rail Finance.
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