The stock of Element Fleet Management Corp (TSE:EFN) hit a new 52-week low and has $10.35 target or 8.00% below today’s $11.25 share price. The 8 months bearish chart indicates high risk for the $4.35 billion company. The 1-year low was reported on Nov, 15 by Barchart.com. If the $10.35 price target is reached, the company will be worth $348.00 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 3.17 million shares traded hands or 134.81% up from the average. Element Fleet Management Corp (TSE:EFN) has declined 14.74% since April 11, 2016 and is downtrending. It has underperformed by 18.67% the S&P500.
Element Fleet Management Corp (TSE:EFN) Ratings Coverage
Out of 5 analysts covering Element Financial Corporation (TSE:EFN), 5 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $27 is the highest target while $14 is the lowest. The $20.72 average target is 84.18% above today’s ($11.25) stock price. Element Financial Corporation has been the topic of 17 analyst reports since August 10, 2015 according to StockzIntelligence Inc. The stock of Element Fleet Management Corp (TSE:EFN) has “Outperform” rating given on Thursday, September 22 by Scotia Capital. The rating was reinitiated by Barclays Capital on Wednesday, September 2 with “Overweight”. The firm has “Outperform” rating given on Thursday, February 4 by RBC Capital Markets. The firm has “Outperform” rating given on Tuesday, September 1 by BMO Capital Markets. Scotia Capital maintained Element Fleet Management Corp (TSE:EFN) rating on Monday, August 10. Scotia Capital has “Outperform” rating and $25 price target. Scotia Capital maintained Element Fleet Management Corp (TSE:EFN) rating on Thursday, October 15. Scotia Capital has “Sector Outperform” rating and $25 price target.
More recent Element Fleet Management Corp (TSE:EFN) news were published by: Marketwatch.com which released: “Element Fleet Management Corp. Opens the Market” on October 03, 2016. Also Forbes.com published the news titled: “Element Fleet Management Getting Very Oversold (EFN)” on November 08, 2016. Valuewalk.com‘s news article titled: “Corsair Capital Management 3Q16 Letter: Long Element Fleet Management Corp” with publication date: November 03, 2016 was also an interesting one.
Element Fleet Management Corp, formerly Element Financial Corp, is a Canada fleet management firm that provides management services and financing for commercial vehicle fleets. The company has a market cap of $4.35 billion. It offers fleet management services that span the total fleet lifecycle, from acquisition and financing, to program management and remarketing. It has a 16.71 P/E ratio. It finances a range of fleet vehicles by way of secured loans, financial leases, conditional sales contracts and operating leases.
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