Element Fleet Management (TSE:EFN) Share Price Crosses Above 50 Day Moving Average – Time to Sell?

Element Fleet Management Corp. (TSE:EFN)’s stock price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$28.33 and traded as high as C$30.04. Element Fleet Management shares last traded at C$29.80, with a volume of 625,917 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Raymond James Financial lowered Element Fleet Management from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the company from C$42.50 to C$42.00 in a research note on Thursday, May 7th. TD lowered their target price on Element Fleet Management from C$41.00 to C$38.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Finally, Royal Bank Of Canada dropped their target price on Element Fleet Management from C$47.00 to C$40.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. Eight analysts have rated the stock with a Buy rating, According to MarketBeat.com, Element Fleet Management currently has a consensus rating of “Buy” and an average price target of C$41.88.

Element Fleet Management Price Performance

The stock’s fifty day moving average is C$28.24 and its 200-day moving average is C$31.57. The stock has a market capitalization of C$11.80 billion, a PE ratio of 40.27, a P/E/G ratio of 2.97 and a beta of 0.61. The company has a debt-to-equity ratio of 358.10, a current ratio of -1,554.01 and a quick ratio of 5.70.

Element Fleet Management (TSE:EFN) last released its quarterly earnings data on Wednesday, May 6th. The financial services provider reported C$0.49 earnings per share for the quarter. The company had revenue of C$879.58 million during the quarter. Element Fleet Management had a net margin of 12.38% and a return on equity of 10.62%. As a group, equities analysts predict that Element Fleet Management Corp. will post 1.6884016 earnings per share for the current fiscal year.

Element Fleet Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 15th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Tuesday, June 30th. Element Fleet Management’s payout ratio is currently 52.84%.

Insider Buying and Selling

In related news, insider James Halliday sold 67,102 shares of the company’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of C$28.07, for a total value of C$1,883,553.14. Following the completion of the transaction, the insider owned 54,301 shares of the company’s stock, valued at approximately C$1,524,229.07. This represents a 55.27% decrease in their position. Also, insider Laura Lee Dottori-Attanasio purchased 35,800 shares of the stock in a transaction on Tuesday, June 16th. The shares were acquired at an average price of C$27.94 per share, for a total transaction of C$1,000,252.00. Following the transaction, the insider directly owned 397,600 shares of the company’s stock, valued at C$11,108,944. This represents a 9.89% increase in their position. In the last 90 days, insiders acquired 38,420 shares of company stock valued at $1,073,612. 0.26% of the stock is owned by company 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. The company’s suite of fleet management services deals with acquisition and financing, to program management and remarketing. ECN Capital operates across North America in three verticals of the equipment finance market: commercial and vendor finance, rail finance, and commercial aviation finance.