Element Financial (EFN) Stock Price Down 4.8%

Element Financial Corp (TSE:EFN) shares dropped 4.8% on Tuesday . The company traded as low as C$5.04 and last traded at C$5.15. Approximately 1,840,474 shares changed hands during mid-day trading, a decline of 34% from the average daily volume of 2,798,302 shares. The stock had previously closed at C$5.41.

EFN has been the subject of a number of analyst reports. Royal Bank of Canada decreased their price objective on shares of Element Financial from C$12.00 to C$8.00 and set an “outperform” rating for the company in a research report on Tuesday, February 6th. Barclays reduced their price target on shares of Element Financial from C$12.00 to C$11.00 in a research report on Tuesday, February 6th. CIBC downgraded shares of Element Financial from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from C$12.00 to C$8.50 in a research report on Tuesday, February 6th. National Bank Financial downgraded shares of Element Financial from a “sector perform” rating to an “underperform” rating and reduced their price target for the stock from C$10.50 to C$8.00 in a research report on Tuesday, February 6th. Finally, TD Securities upped their price target on shares of Element Financial from C$9.50 to C$10.50 in a research report on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of C$9.45.

The stock has a market cap of $1,840.00, a PE ratio of 20.71 and a beta of 0.74.

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About Element Financial

Element Fleet Management Corp. operates as a fleet management company in North America. 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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