Element Fleet Management Corp. (TSE:EFN) Receives C$40.00 Consensus Price Target from Analysts

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 an average rating of "Moderate Buy" from the eight research firms that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is C$40.00.

Several equities research analysts recently commented on the company. Scotiabank increased their price target on Element Fleet Management from C$33.00 to C$40.00 in a report on Wednesday, July 23rd. Raymond James Financial boosted their price target on shares of Element Fleet Management from C$36.00 to C$40.00 and gave the company a "strong-buy" rating in a research report on Thursday, August 7th. TD Securities upped their price objective on shares of Element Fleet Management from C$41.00 to C$42.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Royal Bank Of Canada lifted their target price on shares of Element Fleet Management from C$43.00 to C$47.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Finally, BMO Capital Markets increased their price target on shares of Element Fleet Management from C$35.00 to C$40.00 and gave the company an "outperform" rating in a research note on Friday, August 8th.

Insider Buying and Selling

In other Element Fleet Management news, insider Heath Leslie Valkenburg purchased 813 shares of the firm's stock in a transaction dated Wednesday, September 10th. The shares were acquired at an average price of C$36.90 per share, with a total value of C$29,999.70. Following the purchase, the insider directly owned 4,153 shares in the company, valued at approximately C$153,245.70. This trade represents a 24.34% increase in their position. 0.26% of the stock is owned by corporate insiders.

Element Fleet Management Price Performance

TSE EFN traded down C$0.53 during trading hours on Monday, hitting C$37.48. 629,645 shares of the company's stock traded hands, compared to its average volume of 610,897. The company has a market capitalization of C$15.05 billion, a PE ratio of 37.48, a PEG ratio of 2.97 and a beta of 0.54. The company has a debt-to-equity ratio of 303.64, a current ratio of 7.04 and a quick ratio of 5.70. Element Fleet Management has a 52-week low of C$25.00 and a 52-week high of C$38.15. The firm's 50-day moving average is C$36.59 and its 200-day moving average is C$33.07.

Element Fleet Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 15th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.52 annualized dividend and a yield of 1.4%. Element Fleet Management's dividend payout ratio (DPR) is 36.52%.

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.