Element Fleet Management (TSE:EFN) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Element Fleet Management Corp. (TSE:EFN) 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 Ratings Changes

Several research analysts recently issued reports on EFN shares. CIBC increased their price target on shares of Element Fleet Management from C$30.00 to C$33.00 in a research report on Thursday, October 31st. National Bankshares increased their target price on Element Fleet Management from C$34.00 to C$37.00 in a report on Friday, September 27th. Royal Bank of Canada boosted their price target on Element Fleet Management from C$33.00 to C$35.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. BMO Capital Markets increased their price objective on Element Fleet Management from C$28.00 to C$32.00 in a research note on Thursday, August 15th. Finally, Raymond James boosted their target price on shares of Element Fleet Management from C$29.00 to C$30.00 and gave the company a “strong-buy” rating in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Element Fleet Management has an average rating of “Moderate Buy” and an average target price of C$32.25.

Element Fleet Management Price Performance

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’s 50-day moving average price is C$28.68 and its 200-day moving average price is C$26.18. The company has a market capitalization of C$11.41 billion, a price-to-earnings ratio of 22.08, a price-to-earnings-growth ratio of 2.97 and a beta of 0.91.

Element Fleet Management (TSE:EFN) last announced its quarterly earnings data on Tuesday, August 13th. The financial services provider reported C$0.40 earnings per share for the quarter, topping the consensus estimate of C$0.37 by C$0.03. The firm had revenue of C$375.68 million during the quarter, compared to analysts’ expectations of C$368.46 million. Element Fleet Management had a return on equity of 12.58% and a net margin of 23.41%. Equities research analysts anticipate that Element Fleet Management Corp. will post 1.6884016 earnings per share for the current year.

Element Fleet Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 15th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date was Friday, September 27th. Element Fleet Management’s dividend payout ratio (DPR) is currently 37.50%.

Insider Buying and Selling

In related news, Senior Officer Laura Lee Dottori-Attanasio bought 18,000 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were purchased at an average price of C$27.67 per share, with a total value of C$498,074.40. 0.26% of the stock is owned by insiders.

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.