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

Key Points

• Element Fleet Management reached a new 52-week high with a share price of C$37.06 after an upgrade from the Royal Bank of Canada, which raised its price target from C$43.00 to C$47.00.
• The company has received multiple mixed ratings from analysts, with one upgrade to a "strong-buy" and an overall consensus rating of "Moderate Buy" with a target price of C$40.00.
• Element Fleet Management also announced a quarterly dividend of $0.13, representing an annualized amount of $0.52 and a yield of 1.4%.

Element Fleet Management Corp. (TSE:EFN - Get Free Report) hit a new 52-week high during trading on Monday after Royal Bank Of Canada raised their price target on the stock from C$43.00 to C$47.00. Royal Bank Of Canada currently has an outperform rating on the stock. Element Fleet Management traded as high as C$37.07 and last traded at C$37.06, with a volume of 37503 shares. The stock had previously closed at C$36.77.

EFN has been the topic of several other reports. TD Securities lifted their price target on Element Fleet Management from C$41.00 to C$42.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. BMO Capital Markets lifted their price target on Element Fleet Management from C$35.00 to C$40.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Scotiabank lifted their price target on Element Fleet Management from C$33.00 to C$40.00 in a research report on Wednesday, July 23rd. National Bankshares lifted their price target on Element Fleet Management from C$46.00 to C$47.00 in a research report on Thursday, August 7th. Finally, Keefe, Bruyette & Woods upgraded Element Fleet Management to a "hold" rating in a research report on Sunday, April 20th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$40.00.

Element Fleet Management Stock Down 0.3%

The stock has a market cap of C$10.70 billion, a PE ratio of 31.00, a price-to-earnings-growth ratio of 2.97 and a beta of 0.91. The firm has a fifty day moving average of C$34.83 and a 200 day moving average of C$31.47. The company has a quick ratio of 5.70, a current ratio of 7.04 and a debt-to-equity ratio of 303.64.

Element Fleet Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 15th were paid a dividend of $0.13 per share. The ex-dividend date was Monday, June 30th. This represents a $0.52 annualized dividend and a dividend yield of 1.4%. Element Fleet Management's dividend payout ratio is 39.84%.

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.