Analysts Set Element Fleet Management Corp. (TSE:EFN) Price Target at C$34.00

Element Fleet Management Corp. (TSE:EFN) has been assigned a consensus recommendation of “Buy” from the seven brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is C$34.00.

EFN has been the topic of several analyst reports. National Bankshares lowered their price objective on Element Fleet Management from C$41.00 to C$40.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Raymond James boosted their price target on Element Fleet Management from C$34.00 to C$36.00 in a research note on Friday, February 28th. Finally, CIBC increased their price objective on Element Fleet Management from C$33.00 to C$34.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th.

Insider Buying and Selling at Element Fleet Management

In other Element Fleet Management news, Senior Officer Carlos David Madrigal Gonzalez purchased 2,107 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were acquired at an average price of C$27.06 per share, for a total transaction of C$57,010.36. Also, Senior Officer Laura Lee Dottori-Attanasio acquired 18,000 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of C$27.78 per share, with a total value of C$499,991.40. 0.26% of the stock is owned by corporate insiders.

Element Fleet Management Trading Down 3.4 %

Shares of TSE EFN opened at C$28.47 on Monday. The firm’s 50 day moving average price is C$28.53 and its 200-day moving average price is C$28.81. Element Fleet Management has a 52-week low of C$21.20 and a 52-week high of C$30.49. The company has a debt-to-equity ratio of 303.64, a quick ratio of 5.70 and a current ratio of 7.04. The company has a market cap of C$8.16 billion, a PE ratio of 23.63, a P/E/G ratio of 2.97 and a beta of 0.91.

Element Fleet Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 15th will be issued a $0.13 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.52 annualized dividend and a dividend yield of 1.83%. This is a positive change from Element Fleet Management’s previous quarterly dividend of $0.12. Element Fleet Management’s payout ratio is presently 39.84%.

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.