Element Fleet Management (TSE:EFN) Sets New 52-Week High - Should You Buy?

Element Fleet Management Corp. (TSE:EFN - Get Free Report) shares reached a new 52-week high during 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 trading hands. The stock had previously closed at C$32.38.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on EFN shares. Royal Bank Of Canada upgraded Element Fleet Management to a "moderate buy" rating and set a C$43.00 target price on the stock in a report on Wednesday. BMO Capital Markets raised their price target on Element Fleet Management from C$33.00 to C$35.00 in a research report on Friday, May 2nd. Raymond James Financial lifted their price objective on Element Fleet Management from C$34.00 to C$36.00 in a report on Friday, February 28th. Jefferies Financial Group decreased their price objective on Element Fleet Management from C$31.00 to C$30.00 in a research report on Monday, April 21st. Finally, Keefe, Bruyette & Woods upgraded shares of Element Fleet Management to a "hold" rating in a report on Sunday, April 20th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Element Fleet Management has a consensus rating of "Moderate Buy" and an average target price of C$35.38.

Element Fleet Management Trading Up 0.3%

The company has a quick ratio of 5.70, a current ratio of 7.04 and a debt-to-equity ratio of 303.64. The company has a market capitalization of C$9.52 billion, a P/E ratio of 27.55, a price-to-earnings-growth ratio of 2.97 and a beta of 0.91. The business has a fifty day moving average price of C$31.69 and a 200 day moving average price of C$29.72.

Element Fleet Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 15th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date was Monday, March 31st. This is a positive change from Element Fleet Management's previous quarterly dividend of $0.12. Element Fleet Management's dividend payout ratio (DPR) is currently 39.84%.

Insiders Place Their Bets

In other Element Fleet Management news, Director Luis Manuel Enrique Tellez Kuenzler purchased 4,300 shares of the stock in a transaction on Tuesday, May 13th. The shares were purchased at an average cost of C$31.58 per share, for a total transaction of C$135,781.10. Also, 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 transaction of C$314,777.10. Insiders own 0.26% of the company's stock.

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.