Element Fleet Management (TSE:EFN) Stock Crosses Above 200-Day Moving Average – What’s Next?

Element Fleet Management Corp. (TSE:EFN) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$26.18 and traded as high as C$28.65. Element Fleet Management shares last traded at C$28.26, with a volume of 910,511 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. BMO Capital Markets upped their price objective on Element Fleet Management from C$28.00 to C$32.00 in a report on Thursday, August 15th. Jefferies Financial Group lowered shares of Element Fleet Management from a “buy” rating to a “hold” rating and reduced their price objective for the stock from C$32.00 to C$30.00 in a research note on Friday. Royal Bank of Canada increased their target price on shares of Element Fleet Management from C$33.00 to C$35.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. National Bankshares upped their price objective on shares of Element Fleet Management from C$37.00 to C$39.00 in a research report on Thursday. Finally, TD Securities lifted their target price on Element Fleet Management from C$32.00 to C$33.00 and gave the stock a “buy” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$33.50.

Element Fleet Management Stock Up 0.1 %

The firm has a 50 day simple moving average of C$28.66 and a two-hundred day simple moving average of C$26.26. The company has a quick ratio of 5.70, a current ratio of 8.22 and a debt-to-equity ratio of 303.14. The stock has a market capitalization of C$10.94 billion, a P/E ratio of 21.18, a PEG ratio of 2.97 and a beta of 0.91.

Element Fleet Management (TSE:EFN) last announced its quarterly earnings results on Tuesday, August 13th. The financial services provider reported C$0.40 EPS 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 company had revenue of C$375.68 million during the quarter, compared to analysts’ expectations of C$368.46 million. On average, equities research analysts expect that Element Fleet Management Corp. will post 1.6884016 earnings per share for the current year.

Element Fleet Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 15th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.48 dividend on an annualized basis and a yield of 1.77%. Element Fleet Management’s payout ratio is 37.50%.

Insider Activity at Element Fleet Management

In other news, Senior Officer Laura Lee Dottori-Attanasio bought 18,000 shares of Element Fleet Management stock in a transaction dated Thursday, September 5th. The stock was bought at an average cost of C$27.67 per share, for a total transaction of C$498,074.40. 0.26% of the stock is currently owned by company insiders.

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.