Element Fleet Management (TSE:EFN) Hits New 52-Week High - Here's Why

Element Fleet Management Corp. (TSE:EFN - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$33.27 and last traded at C$33.27, with a volume of 259749 shares traded. The stock had previously closed at C$32.38.

Analysts Set New Price Targets

A number of analysts have recently weighed in on EFN shares. Jefferies Financial Group reduced their price objective on shares of Element Fleet Management from C$31.00 to C$30.00 in a research note on Monday, April 21st. National Bankshares cut their target price on shares of Element Fleet Management from C$41.00 to C$40.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. Royal Bank Of Canada raised Element Fleet Management to a "moderate buy" rating and set a C$43.00 price target on the stock in a research report on Wednesday. Raymond James Financial lifted their price objective on Element Fleet Management from C$34.00 to C$36.00 in a research note on Friday, February 28th. Finally, Keefe, Bruyette & Woods upgraded Element Fleet Management to a "hold" rating in a research note on Sunday, April 20th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of C$35.38.

Element Fleet Management Stock Down 0.0%

The firm has a market cap of C$9.49 billion, a price-to-earnings ratio of 27.47, a P/E/G ratio of 2.97 and a beta of 0.91. The company has a debt-to-equity ratio of 303.64, a quick ratio of 5.70 and a current ratio of 7.04. The firm has a fifty day simple moving average of C$31.51 and a 200-day simple moving average of C$29.67.

Element Fleet Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 15th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date was Monday, March 31st. This is an increase from Element Fleet Management's previous quarterly dividend of $0.12. Element Fleet Management's dividend payout ratio is 39.84%.

Insider Activity at Element Fleet Management

In other news, Senior Officer Carlos David Madrigal Gonzalez sold 10,230 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of C$30.77, for a total value of C$314,777.10. Also, Director Luis Manuel Enrique Tellez Kuenzler bought 4,300 shares of Element Fleet Management stock in a transaction that occurred on Tuesday, May 13th. The stock was bought at an average price of C$31.58 per share, for a total transaction of C$135,781.10. 0.26% of the stock is currently owned by insiders.

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.