Element Fleet Management (TSE:EFN) Stock Price Passes Above Two Hundred Day Moving Average of $24.45

Element Fleet Management Corp. (TSE:EFN)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$24.45 and traded as high as C$28.78. Element Fleet Management shares last traded at C$28.41, with a volume of 364,074 shares traded.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on EFN shares. Jefferies Financial Group lifted their target price on Element Fleet Management from C$28.00 to C$31.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Royal Bank of Canada raised their target price on Element Fleet Management from C$33.00 to C$35.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. National Bankshares boosted their price target on shares of Element Fleet Management from C$33.00 to C$34.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Scotiabank raised their price objective on shares of Element Fleet Management from C$27.00 to C$28.00 in a report on Wednesday, July 24th. Finally, Raymond James upped their target price on shares of Element Fleet Management from C$29.00 to C$30.00 and gave the company a “strong-buy” rating in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$31.25.

Element Fleet Management Stock Up 1.2 %

The firm has a 50 day moving average price of C$26.90 and a 200-day moving average price of C$24.45. The company has a debt-to-equity ratio of 303.14, a current ratio of 8.22 and a quick ratio of 5.70. The firm has a market cap of C$11.47 billion, a price-to-earnings ratio of 22.37, a price-to-earnings-growth ratio of 2.97 and a beta of 0.91.

Element Fleet Management (TSE:EFN) last posted its quarterly earnings results on Tuesday, August 13th. The financial services provider reported C$0.40 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.37 by C$0.03. The company had revenue of C$375.68 million for the quarter, compared to the consensus estimate of C$368.46 million. Element Fleet Management had a return on equity of 12.58% and a net margin of 23.41%. As a group, equities analysts predict that Element Fleet Management Corp. will post 1.6868327 EPS for the current fiscal year.

Element Fleet Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Friday, September 27th. Element Fleet Management’s dividend payout ratio is currently 37.80%.

Insider Buying and Selling

In related news, Senior Officer Laura Lee Dottori-Attanasio bought 18,000 shares of Element Fleet Management stock in a transaction that occurred on Thursday, September 5th. The stock was purchased at an average cost of C$27.67 per share, with a total value of C$498,074.40. 0.23% of the stock is owned by company insiders.

About Element Fleet Management

Element Fleet Management Corp. operates as a fleet management company primarily in Canada, Mexico, Australia, and New Zealand. The company offers end-to-end fleet cars, trucks, and material handling support equipment acquisition; and end-to-end electric vehicle fleet including fleet planning, charging infrastructure solutions, acquisition, financing, maintenance, and remarketing.