Element Fleet Management (TSE:EFN) Sets New 12-Month High - Still a Buy?

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 share price hit 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. The stock had previously closed at C$35.99.

Analyst Upgrades and Downgrades

EFN has been the topic of a number of recent research reports. Jefferies Financial Group decreased their price target on shares of Element Fleet Management from C$31.00 to C$30.00 in a research note on Monday, April 21st. Royal Bank Of Canada raised Element Fleet Management to a "moderate buy" rating and set a C$43.00 price target for the company in a report on Wednesday, June 18th. National Bankshares lifted their price target on Element Fleet Management from C$40.00 to C$46.00 and gave the company an "outperform" rating in a report on Tuesday, July 29th. Scotiabank lifted their price objective on Element Fleet Management from C$33.00 to C$40.00 in a research report on Wednesday, July 23rd. Finally, Keefe, Bruyette & Woods upgraded Element Fleet Management to a "hold" rating in a research report on Sunday, April 20th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of C$38.13.

Element Fleet Management Stock Up 2.3%

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 firm has a 50 day moving average of C$34.04 and a 200 day moving average of C$31.01. The firm has a market cap of C$10.56 billion, a price-to-earnings ratio of 30.57, a PEG 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. Investors of record on Tuesday, July 15th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Monday, June 30th. Element Fleet Management's payout ratio is presently 39.84%.

Insider Activity

In other news, Director Luis Manuel Enrique Tellez Kuenzler acquired 4,300 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was purchased at an average cost of C$31.58 per share, for a total transaction of C$135,781.10. Insiders own 0.26% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.