Element Fleet Management (TSE:EFN) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Shares of Element Fleet Management Corp. (TSE:EFN) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$28.44 and traded as low as C$28.29. Element Fleet Management shares last traded at C$28.62, with a volume of 413,529 shares changing hands.

Wall Street Analysts Forecast Growth

EFN has been the subject of several analyst reports. CIBC lifted their price objective on shares of Element Fleet Management from C$33.00 to C$34.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Raymond James boosted their target price on shares of Element Fleet Management from C$30.00 to C$34.00 in a research report on Thursday, November 14th. Scotiabank cut their target price on shares of Element Fleet Management from C$33.00 to C$32.00 in a research report on Thursday, November 14th. Jefferies Financial Group lowered shares of Element Fleet Management from a “buy” rating to a “hold” rating and cut their target price for the stock from C$32.00 to C$30.00 in a research report on Friday, November 15th. Finally, TD Securities boosted their target price on shares of Element Fleet Management from C$32.00 to C$33.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Element Fleet Management currently has a consensus rating of “Moderate Buy” and an average price target of C$33.63.

Element Fleet Management Stock Performance

The firm’s fifty day moving average price is C$28.77 and its 200-day moving average price is C$28.44. The company has a current ratio of 7.04, a quick ratio of 5.70 and a debt-to-equity ratio of 303.64. The company has a market cap of C$8.20 billion, a P/E ratio of 23.75, a P/E/G ratio of 2.97 and a beta of 0.91.

Insider Transactions at Element Fleet Management

In other Element Fleet Management news, Senior Officer Carlos David Madrigal Gonzalez bought 3,375 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were acquired at an average price of C$28.92 per share, with a total value of C$97,618.50. Also, Senior Officer James Halliday sold 33,664 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of C$30.00, for a total transaction of C$1,009,920.00. In the last 90 days, insiders have purchased 18,925 shares of company stock worth $543,490. 0.26% of the stock is currently owned by company insiders.

Element Fleet Management Company Profile

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.