Element Fleet Management (TSE:EFN) Stock Crosses Above 200 Day Moving Average – Here’s Why

Element Fleet Management Corp. (TSE:EFN) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$30.95 and traded as high as C$32.19. Element Fleet Management shares last traded at C$32.16, with a volume of 592,488 shares trading hands.

Analyst Ratings Changes

EFN has been the subject of a number of recent analyst reports. Royal Bank Of Canada lowered their target price on shares of Element Fleet Management from C$47.00 to C$40.00 and set an “outperform” rating for the company in a research note on Friday, May 8th. TD dropped their target price on shares of 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, Raymond James Financial lowered Element Fleet Management from a “strong-buy” rating to an “outperform” rating and lowered their price target for the company from C$42.50 to C$42.00 in a report on Thursday, May 7th. Eight investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of C$41.88.

Element Fleet Management Stock Performance

The firm’s 50 day moving average price is C$29.16 and its 200-day moving average price is C$30.88. The firm has a market capitalization of C$11.33 billion, a PE ratio of 38.66, a price-to-earnings-growth ratio of 2.97 and a beta of 0.61. The company has a debt-to-equity ratio of 358.10, a quick ratio of 5.70 and a current ratio of -1,554.01.

Element Fleet Management (TSE:EFN) last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported C$0.48 earnings per share for the quarter. Element Fleet Management had a return on equity of 10.62% and a net margin of 12.38%.The business had revenue of C$451.94 million during the quarter. On average, research analysts expect that Element Fleet Management Corp. will post 1.6884016 EPS for the current year.

Element Fleet Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 15th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, June 30th. Element Fleet Management’s dividend payout ratio is presently 52.84%.

Insider Buying and Selling

In other news, Director George Keith Graham purchased 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were acquired at an average cost of C$28.00 per share, with a total value of C$56,000.00. Following the transaction, the director owned 27,000 shares in the company, valued at approximately C$756,000. The trade was a 8.00% increase in their position. Also, insider Laura Lee Dottori-Attanasio bought 35,800 shares of the business’s stock in a transaction on Tuesday, June 16th. The stock was acquired at an average cost of C$27.94 per share, for a total transaction of C$1,000,252.00. Following the acquisition, the insider directly owned 397,600 shares of the company’s stock, valued at C$11,108,944. The trade was a 9.89% increase in their ownership of the stock. Over the last quarter, insiders purchased 38,420 shares of company stock worth $1,073,612. Insiders own 0.26% of the company’s stock.

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.