Element Fleet Management (TSE:EFN) Shares Cross Above 200-Day Moving Average – Should You Sell?

Shares of Element Fleet Management Corp. (TSE:EFN) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$28.04 and traded as high as C$29.35. Element Fleet Management shares last traded at C$29.26, with a volume of 346,968 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. CIBC upped their price target on Element Fleet Management from C$30.00 to C$33.00 in a research note on Thursday, October 31st. Scotiabank cut their target price on Element Fleet Management from C$33.00 to C$32.00 in a research note on Thursday, November 14th. National Bankshares raised their price target on Element Fleet Management from C$37.00 to C$39.00 in a report on Thursday, November 14th. Jefferies Financial Group cut shares of Element Fleet Management from a “buy” rating to a “hold” rating and dropped their price target for the stock from C$32.00 to C$30.00 in a research note on Friday, November 15th. Finally, TD Securities raised their price objective on shares of Element Fleet Management from C$32.00 to C$33.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$33.50.

Element Fleet Management Price Performance

The stock has a market capitalization of C$11.81 billion, a PE ratio of 22.86, a PEG ratio of 2.97 and a beta of 0.91. The firm’s fifty day moving average price is C$29.01 and its two-hundred day moving average price is C$28.04. The company has a quick ratio of 5.70, a current ratio of 8.22 and a debt-to-equity ratio of 303.14.

Insider Activity

In other Element Fleet Management news, Senior Officer Heath Leslie Valkenburg purchased 2,550 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were acquired at an average price of C$28.46 per share, for a total transaction of C$72,571.98. Also, Senior Officer Laura Lee Dottori-Attanasio acquired 2,500 shares of Element Fleet Management stock in a transaction dated Monday, December 23rd. The stock was bought at an average price of C$28.78 per share, with a total value of C$71,950.00. In the last ninety days, insiders have bought 19,625 shares of company stock valued at $562,999 and have sold 38,948 shares valued at $1,154,902. Insiders own 0.26% of the company’s stock.

About Element Fleet Management

Element Financial separated into two independent public companies in October 2016. The former company now consists of Element Fleet Management, a global fleet management company, and ECN Capital, a commercial finance company. Element Fleet Management provides management services and financing for commercial vehicle and equipment fleets.