Element Fleet Management (TSE:EFN) Share Price Passes Above 200-Day Moving Average – Here’s Why

Shares of Element Fleet Management Corp. (TSE:EFN) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$25.11 and traded as high as C$29.67. Element Fleet Management shares last traded at C$29.50, with a volume of 843,109 shares.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Royal Bank of Canada increased their price target 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. BMO Capital Markets raised their target price on Element Fleet Management from C$28.00 to C$32.00 in a research report on Thursday, August 15th. Raymond James raised their target price on Element Fleet Management from C$29.00 to C$30.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 14th. CIBC raised their target price on Element Fleet Management from C$28.00 to C$30.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Finally, National Bankshares raised their target price on Element Fleet Management from C$34.00 to C$37.00 in a research report on Friday, September 27th. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$31.88.

Element Fleet Management Stock Performance

The firm has a 50 day simple moving average of C$27.66 and a 200-day simple moving average of C$25.14. 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 company has a market cap of C$11.91 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 2.97 and a beta of 0.91.

Element Fleet Management (TSE:EFN) last issued its quarterly earnings data 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. Element Fleet Management had a return on equity of 12.58% and a net margin of 23.41%. The business had revenue of C$375.68 million during the quarter, compared to analysts’ expectations of C$368.46 million. As a group, analysts predict that Element Fleet Management Corp. will post 1.6869159 EPS for the current fiscal year.

Element Fleet Management Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Friday, September 27th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.63%. Element Fleet Management’s payout ratio is presently 38.10%.

Insider Activity

In related news, Senior Officer Laura Lee Dottori-Attanasio bought 18,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was purchased at an average cost of C$27.67 per share, for a total transaction of C$498,074.40. Insiders own 0.26% of the company’s stock.

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.