Element Fleet Management (TSE:EFN) Sets New 12-Month High – Time to Buy?

Shares of Element Fleet Management Corp. (TSE:EFN) hit a new 52-week high on Monday . The stock traded as high as C$29.07 and last traded at C$29.04, with a volume of 129123 shares trading hands. The stock had previously closed at C$28.79.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on EFN shares. BMO Capital Markets lifted their price target on shares of Element Fleet Management from C$28.00 to C$32.00 in a research note on Thursday, August 15th. 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. Scotiabank boosted their price target on Element Fleet Management from C$27.00 to C$28.00 in a research note on Wednesday, July 24th. TD Securities raised their price objective on Element Fleet Management from C$30.00 to C$32.00 in a research note on Friday, September 20th. Finally, Raymond James boosted their target price on shares of Element Fleet Management from C$29.00 to C$30.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$31.88.

Element Fleet Management Stock Up 0.2 %

The firm has a market cap of C$11.73 billion, a price-to-earnings ratio of 23.06, a price-to-earnings-growth ratio of 2.97 and a beta of 0.91. The stock has a 50-day moving average of C$27.48 and a 200-day moving average of C$24.97. The company has a current ratio of 8.22, a quick ratio of 5.70 and a debt-to-equity ratio of 303.14.

Element Fleet Management (TSE:EFN) last posted its earnings results on Tuesday, August 13th. The financial services provider reported C$0.40 EPS for the quarter, beating the consensus estimate of C$0.37 by C$0.03. The firm had revenue of C$375.68 million for the quarter, compared to analysts’ expectations 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, sell-side analysts forecast that Element Fleet Management Corp. will post 1.6869159 EPS for the current fiscal year.

Element Fleet Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 15th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend is Friday, September 27th. Element Fleet Management’s dividend payout ratio is currently 38.10%.

Insider Buying and Selling

In other news, Senior Officer Laura Lee Dottori-Attanasio bought 18,000 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were purchased at an average cost of C$27.67 per share, with a total value of C$498,074.40. 0.26% of the stock is owned by corporate insiders.

Element Fleet Management Company Profile

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.