Element Fleet Management Corp. (TSE:EFN) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Element Fleet Management Corp. has received a consensus rating of “Moderate Buy” from eight brokerages, with an average 1-year price target of C$40.00.
• The company recently announced a quarterly dividend of $0.13 per share, resulting in an annualized dividend yield of 1.4% and a payout ratio of 36.52%.
• Insider Heath Leslie Valkenburg increased their position in the company by 24.34%, acquiring 813 shares at an average price of C$36.90.

Element Fleet Management Corp. (TSE:EFN - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the eight brokerages that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have 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 issued ratings on the stock in the last year is C$40.00.

Several analysts have weighed in on the company. Royal Bank Of Canada lifted their target price on Element Fleet Management from C$43.00 to C$47.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. TD Securities lifted their target price on Element Fleet Management from C$41.00 to C$42.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. National Bankshares lifted their target price on Element Fleet Management from C$46.00 to C$47.00 in a research note on Thursday, August 7th. Raymond James Financial lifted their target price on Element Fleet Management from C$36.00 to C$40.00 and gave the company a "strong-buy" rating in a research note on Thursday, August 7th. Finally, BMO Capital Markets boosted their price objective on Element Fleet Management from C$35.00 to C$40.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th.

Element Fleet Management Stock Up 2.7%

Shares of Element Fleet Management stock opened at C$38.01 on Monday. The business's fifty day moving average price is C$36.55 and its two-hundred day moving average price is C$33.00. The company has a debt-to-equity ratio of 303.64, a current ratio of 7.04 and a quick ratio of 5.70. The company has a market capitalization of C$15.26 billion, a P/E ratio of 38.01, a PEG ratio of 2.97 and a beta of 0.54. Element Fleet Management has a 1-year low of C$25.00 and a 1-year high of C$38.15.

Element Fleet Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 15th were issued a $0.13 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.52 annualized dividend and a dividend yield of 1.4%. Element Fleet Management's dividend payout ratio is 36.52%.

Insider Buying and Selling at Element Fleet Management

In other news, insider Heath Leslie Valkenburg acquired 813 shares of the business's stock in a transaction dated Wednesday, September 10th. The stock was acquired at an average price of C$36.90 per share, for a total transaction of C$29,999.70. Following the completion of the acquisition, the insider directly owned 4,153 shares in the company, valued at C$153,245.70. This represents a 24.34% increase in their position. 0.26% of the stock is currently 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.

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