Element Fleet Management (TSE:EFN) Shares Pass Above 200 Day Moving Average of $21.33

Element Fleet Management Corp. (TSE:EFNGet Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$21.33 and traded as high as C$22.00. Element Fleet Management shares last traded at C$21.84, with a volume of 623,305 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have weighed in on EFN. TD Securities raised their target price on shares of Element Fleet Management from C$25.00 to C$27.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Scotiabank raised their target price on shares of Element Fleet Management from C$25.00 to C$26.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 28th. BMO Capital Markets raised their target price on shares of Element Fleet Management from C$24.00 to C$26.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Raymond James raised their target price on shares of Element Fleet Management from C$26.00 to C$29.00 and gave the company a “strong-buy” rating in a research note on Wednesday, February 28th. Finally, Royal Bank of Canada raised their target price on shares of Element Fleet Management from C$30.00 to C$31.00 and gave the company an “outperform” rating in a research note on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$27.63.

View Our Latest Report on EFN

Element Fleet Management Stock Up 0.6 %

The company has a market cap of C$8.50 billion, a P/E ratio of 19.68, a P/E/G ratio of 2.97 and a beta of 0.84. The company has a debt-to-equity ratio of 280.50, a current ratio of 6.78 and a quick ratio of 5.70. The company’s 50-day moving average is C$22.44 and its two-hundred day moving average is C$21.33.

Element Fleet Management (TSE:EFNGet Free Report) last issued its earnings results on Tuesday, February 27th. The financial services provider reported C$0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.32 by C$0.01. Element Fleet Management had a net margin of 23.38% and a return on equity of 12.30%. The company had revenue of C$333.36 million for the quarter, compared to analysts’ expectations of C$334.92 million. As a group, equities analysts predict that Element Fleet Management Corp. will post 1.4297845 earnings per share for the current fiscal year.

Element Fleet Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Wednesday, March 27th. Element Fleet Management’s dividend payout ratio is currently 43.24%.

Insider Buying and Selling

In related news, Senior Officer James Halliday sold 33,664 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of C$23.01, for a total value of C$774,608.64. In other Element Fleet Management news, Senior Officer Yu Xiang Jin purchased 2,500 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were acquired at an average price of C$22.02 per share, for a total transaction of C$55,050.00. Also, Senior Officer James Halliday sold 33,664 shares of Element Fleet Management stock in a transaction on Friday, March 1st. The stock was sold at an average price of C$23.01, for a total transaction of C$774,608.64. 0.24% of the stock is currently owned by corporate insiders.

Element Fleet Management Company Profile

(Get Free Report)

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.

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