Element Fleet Management (TSE:EFN) Raised to “Moderate Buy” at Royal Bank Of Canada

Royal Bank Of Canada upgraded shares of Element Fleet Management (TSE:EFN) to a moderate buy rating in a report released on Wednesday, Marketbeat reports. Royal Bank Of Canada currently has C$43.00 price target on the financial services provider’s stock.

A number of other research analysts also recently issued reports on EFN. Jefferies Financial Group cut their price objective on shares of Element Fleet Management from C$31.00 to C$30.00 in a research report on Monday, April 21st. BMO Capital Markets lifted their price target on shares of Element Fleet Management from C$33.00 to C$35.00 in a report on Friday, May 2nd. Keefe, Bruyette & Woods upgraded Element Fleet Management to a “hold” rating in a research note on Sunday, April 20th. Raymond James Financial upped their target price on Element Fleet Management from C$34.00 to C$36.00 in a research report on Friday, February 28th. Finally, National Bankshares lowered their price target on Element Fleet Management from C$41.00 to C$40.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$35.38.

Element Fleet Management Stock Performance

Shares of Element Fleet Management stock opened at C$33.20 on Wednesday. The company has a market capitalization of C$9.52 billion, a PE ratio of 27.55, a P/E/G ratio of 2.97 and a beta of 0.91. The company has a 50-day simple moving average of C$31.69 and a two-hundred day simple moving average of C$29.72. Element Fleet Management has a one year low of C$23.71 and a one year high of C$33.37. The company has a debt-to-equity ratio of 303.64, a quick ratio of 5.70 and a current ratio of 7.04.

Element Fleet Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 15th were issued a dividend of $0.13 per share. The ex-dividend date was Monday, March 31st. This is a positive change from Element Fleet Management’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.57%. Element Fleet Management’s payout ratio is 39.84%.

Insider Activity at Element Fleet Management

In other Element Fleet Management news, Senior Officer Carlos David Madrigal Gonzalez sold 10,230 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of C$30.77, for a total transaction of C$314,777.10. Also, Director Luis Manuel Enrique Tellez Kuenzler acquired 4,300 shares of the firm’s stock in a transaction on Tuesday, May 13th. The shares were acquired at an average price of C$31.58 per share, with a total value of C$135,781.10. 0.26% of the stock is owned by insiders.

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.