Element Fleet Management (TSE:EFN) Reaches New 1-Year High - Time to Buy?

Element Fleet Management Corp. (TSE:EFN - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$35.83 and last traded at C$35.75, with a volume of 621695 shares changing hands. The stock had previously closed at C$35.49.

Analysts Set New Price Targets

EFN has been the subject of a number of recent analyst reports. Royal Bank Of Canada upgraded Element Fleet Management to a "moderate buy" rating and set a C$43.00 price objective for the company in a research report on Wednesday, June 18th. Keefe, Bruyette & Woods upgraded Element Fleet Management to a "hold" rating in a research report on Sunday, April 20th. BMO Capital Markets boosted their price objective on Element Fleet Management from C$33.00 to C$35.00 in a research report on Friday, May 2nd. Finally, Jefferies Financial Group cut their price objective on Element Fleet Management from C$31.00 to C$30.00 in a research report on Monday, April 21st. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of C$35.38.

Element Fleet Management Price Performance

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 stock has a market capitalization of C$10.25 billion, a PE ratio of 29.67, a PEG ratio of 2.97 and a beta of 0.91. The company has a 50-day moving average of C$33.06 and a 200 day moving average of C$30.35.

Element Fleet Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 15th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend was Monday, June 30th. Element Fleet Management's payout ratio is 39.84%.

Insider Transactions at Element Fleet Management

In other news, Director Luis Manuel Enrique Tellez Kuenzler bought 4,300 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were purchased at an average price of C$31.58 per share, with a total value 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 value of C$314,777.10. 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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