Element Fleet Management Corp. (TSE:EFN) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Element Fleet Management Corp. (TSE:EFNGet Rating) have earned an average recommendation of “Buy” from the nine brokerages that are currently covering the stock, Marketbeat reports. Six analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is C$19.17.

A number of research analysts recently commented on EFN shares. Scotiabank boosted their price objective on shares of Element Fleet Management from C$16.00 to C$17.50 in a research report on Thursday, August 11th. CIBC boosted their price objective on shares of Element Fleet Management from C$15.50 to C$17.00 and gave the company an “outperform” rating in a research report on Thursday, August 11th. TD Securities raised shares of Element Fleet Management from a “hold” rating to a “buy” rating and boosted their price objective for the company from C$13.00 to C$19.00 in a research report on Thursday, August 11th. National Bankshares boosted their price objective on shares of Element Fleet Management from C$20.00 to C$24.00 and gave the company an “outperform” rating in a research report on Thursday, August 11th. Finally, BMO Capital Markets raised shares of Element Fleet Management from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from C$13.50 to C$19.00 in a research report on Thursday, August 11th.

Element Fleet Management Stock Down 0.1 %

EFN stock opened at C$16.70 on Friday. Element Fleet Management has a 52-week low of C$10.99 and a 52-week high of C$17.87. The company’s 50 day simple moving average is C$15.62 and its 200-day simple moving average is C$13.70. The company has a debt-to-equity ratio of 248.26, a current ratio of 6.66 and a quick ratio of 6.29. The firm has a market capitalization of C$6.59 billion and a P/E ratio of 19.65.

Element Fleet Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Thursday, September 29th will be issued a dividend of $0.078 per share. This is an increase from Element Fleet Management’s previous quarterly dividend of $0.08. This represents a $0.31 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Wednesday, September 28th. Element Fleet Management’s dividend payout ratio is currently 35.00%.

Insider Buying and Selling

In related news, Senior Officer James Halliday sold 33,133 shares of the company’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of C$17.31, for a total transaction of C$573,532.23. Following the completion of the sale, the insider now directly owns 85,001 shares of the company’s stock, valued at approximately C$1,471,367.31.

About Element Fleet Management

(Get Rating)

Element Fleet Management Corp. operates as a fleet management company primarily in Canada, the United States, Mexico, Australia, and New Zealand. The company offers fleet management services comprising vehicle acquisition, financing, program management, and remarketing services to corporate, commercial, government, and public service vehicle fleets.

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Analyst Recommendations for Element Fleet Management (TSE:EFN)

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