Element Fleet Management (TSE:EFN) Reaches New 12-Month High at $27.51

Element Fleet Management Corp. (TSE:EFN) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as C$27.51 and last traded at C$27.33, with a volume of 239652 shares traded. The stock had previously closed at C$27.00.

Wall Street Analysts Forecast Growth

EFN has been the topic of several recent analyst reports. Scotiabank upped their target price on Element Fleet Management from C$27.00 to C$28.00 in a research report on Wednesday, July 24th. National Bankshares upped their target price on Element Fleet Management from C$33.00 to C$34.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. BMO Capital Markets upped 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 upped 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. Finally, CIBC upped 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. One investment analyst has rated the stock with a sell rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$31.25.

Element Fleet Management Stock Up 1.5 %

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 firm has a market cap of C$11.20 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 2.97 and a beta of 0.90. The business has a fifty day simple moving average of C$25.71 and a 200 day simple moving average of C$23.78.

Element Fleet Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 27th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.48 annualized dividend and a dividend yield of 1.73%. Element Fleet Management’s dividend payout ratio is presently 37.80%.

Insider Activity at Element Fleet Management

In other Element Fleet Management news, Senior Officer William Sutherland bought 4,000 shares of the business’s stock in a transaction on Tuesday, June 18th. The stock was bought at an average price of C$24.90 per share, with a total value of C$99,594.00. In other news, Senior Officer James Halliday sold 32,700 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of C$25.00, for a total transaction of C$817,500.00. Also, Senior Officer William Sutherland purchased 4,000 shares of the stock in a transaction dated Tuesday, June 18th. The shares were purchased at an average price of C$24.90 per share, with a total value of C$99,594.00. Insiders own 0.22% of the company’s stock.

Element Fleet Management Company Profile

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.