Element Fleet Management (TSE:EFN) Hits New 12-Month High Following Analyst Upgrade

Key Points

• Element Fleet Management has reached a new 1-year high, trading at C$36.73, with an average consensus target price of C$36.38 from analysts.
• The company announced a quarterly dividend of $0.13 per share, resulting in an annual yield of 1.45% and a payout ratio of 39.84%.
• Recent insider activity includes a purchase of 4,300 shares by Director Luis Manuel Enrique Tellez Kuenzler and a sale of 10,230 shares by Senior Officer Carlos David Madrigal Gonzalez.

Element Fleet Management Corp. (TSE:EFN - Get Free Report) shares hit a new 52-week high on Tuesday after TD Securities raised their price target on the stock from C$34.00 to C$41.00. TD Securities currently has a buy rating on the stock. Element Fleet Management traded as high as C$36.73 and last traded at C$36.27, with a volume of 47193 shares trading hands. The stock had previously closed at C$35.89.

Several other brokerages also recently weighed in on EFN. Scotiabank upped their target price on shares of Element Fleet Management from C$33.00 to C$40.00 in a report on Wednesday, July 23rd. Royal Bank Of Canada raised shares of Element Fleet Management to a "moderate buy" rating and set a C$43.00 target price for the company in a report on Wednesday, June 18th. Keefe, Bruyette & Woods raised shares of Element Fleet Management to a "hold" rating in a report on Sunday, April 20th. Jefferies Financial Group dropped their price objective on shares of Element Fleet Management from C$31.00 to C$30.00 in a report on Monday, April 21st. Finally, National Bankshares increased their price objective on shares of Element Fleet Management from C$40.00 to C$46.00 and gave the company an "outperform" rating in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of C$38.13.

Insider Activity at Element Fleet Management

In other Element Fleet Management news, Director Luis Manuel Enrique Tellez Kuenzler purchased 4,300 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was purchased at an average price of C$31.58 per share, with a total value of C$135,781.10. Insiders own 0.26% of the company's stock.

Element Fleet Management Price Performance

The company has a current ratio of 7.04, a quick ratio of 5.70 and a debt-to-equity ratio of 303.64. The company has a market capitalization of C$10.32 billion, a PE ratio of 29.87, a price-to-earnings-growth ratio of 2.97 and a beta of 0.91. The stock's 50-day moving average is C$34.04 and its two-hundred day moving average is C$30.97.

Element Fleet Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 15th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Monday, June 30th. Element Fleet Management's dividend payout ratio is 39.84%.

Element Fleet Management Company Profile

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.