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

Key Points

• Element Fleet Management Corp. reached a new 52-week high of C$36.79, with a recent trading price of C$36.55 and a volume of 738,958 shares.
• Analyst ratings vary, with Royal Bank of Canada upgrading the stock to a "moderate buy" and setting a price target of C$43.00, while Jefferies Financial Group lowered their target to C$30.00.
• The company recently announced a quarterly dividend of $0.13 per share, representing an annualized yield of 1.4% and a payout ratio of 39.84%.

Element Fleet Management Corp. (TSE:EFN - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$36.79 and last traded at C$36.55, with a volume of 738958 shares traded. The stock had previously closed at C$35.99.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on EFN. Raymond James Financial upped their price objective on Element Fleet Management from C$36.00 to C$40.00 and gave the company a "strong-buy" rating in a report on Thursday. Royal Bank Of Canada upped their price objective on Element Fleet Management from C$43.00 to C$47.00 and gave the company an "outperform" rating in a report on Friday. BMO Capital Markets upped their price objective on Element Fleet Management from C$35.00 to C$40.00 and gave the company an "outperform" rating in a report on Friday. Jefferies Financial Group cut their price objective on Element Fleet Management from C$31.00 to C$30.00 in a report on Monday, April 21st. Finally, TD Securities upped their price objective on Element Fleet Management from C$41.00 to C$42.00 and gave the company a "buy" rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of C$40.00.

Element Fleet Management Stock 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 firm has a 50-day simple moving average of C$34.43 and a two-hundred day simple moving average of C$31.26. The company has a market capitalization of C$10.54 billion, a price-to-earnings ratio of 30.52, a price-to-earnings-growth ratio of 2.97 and a beta of 0.91.

Element Fleet Management Dividend Announcement

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

Insider Transactions at Element Fleet Management

In other Element Fleet Management news, Director Luis Manuel Enrique Tellez Kuenzler bought 4,300 shares of the stock in a transaction 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. 0.26% of the stock is 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.