Element Fleet Management (TSE:EFN) Stock Price Passes Below 200 Day Moving Average – Here’s Why

Element Fleet Management Corp. (TSE:EFN) shares crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$35.88 and traded as low as C$31.19. Element Fleet Management shares last traded at C$31.77, with a volume of 755,395 shares.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Royal Bank Of Canada set a C$47.00 target price on shares of Element Fleet Management and gave the company an “outperform” rating in a report on Monday, January 26th. National Bank Financial raised their price objective on Element Fleet Management from C$48.00 to C$50.00 and gave the company an “outperform” rating in a research note on Wednesday, February 4th. TD Securities lowered their target price on Element Fleet Management from C$42.00 to C$41.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Jefferies Financial Group upgraded Element Fleet Management from a “hold” rating to a “buy” rating in a report on Monday, February 23rd. Finally, Raymond James Financial raised their price target on Element Fleet Management from C$40.00 to C$41.00 in a research report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of C$43.29.

Element Fleet Management Stock Performance

The business’s fifty day simple moving average is C$34.23 and its 200-day simple moving average is C$35.81. The firm has a market cap of C$12.55 billion, a P/E ratio of 45.71, a price-to-earnings-growth ratio of 2.97 and a beta of 0.23. The company has a current ratio of 4.05, a quick ratio of 5.70 and a debt-to-equity ratio of 363.75.

Element Fleet Management (TSE:EFN) last posted its earnings results on Tuesday, February 24th. The financial services provider reported C$0.45 earnings per share for the quarter. Element Fleet Management had a net margin of 10.11% and a return on equity of 8.48%. The company had revenue of C$430.19 million during the quarter. As a group, sell-side analysts expect that Element Fleet Management Corp. will post 1.6884016 earnings per share for the current year.

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.