Element Fleet Management (TSE:EFN) Sets New 52-Week High - What's Next?

Key Points

• Element Fleet Management's stock reached a new 52-week high, trading at C$37.70 with a volume of over 250,000 shares.
• Multiple analysts have raised their price targets for the stock, with a consensus target of C$40.00 and a rating of "Moderate Buy."
• The company declared a quarterly dividend of $0.13, reflecting an annualized yield of 1.4% and a payout ratio of 36.52%.

Shares of Element Fleet Management Corp. (TSE:EFN - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The company traded as high as C$37.72 and last traded at C$37.70, with a volume of 250582 shares traded. The stock had previously closed at C$37.01.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. National Bankshares upped their price objective on shares of Element Fleet Management from C$46.00 to C$47.00 in a report on Thursday, August 7th. BMO Capital Markets increased their price objective on Element Fleet Management from C$35.00 to C$40.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Scotiabank raised their price objective on Element Fleet Management from C$33.00 to C$40.00 in a research note on Wednesday, July 23rd. TD Securities lifted their price objective on Element Fleet Management from C$41.00 to C$42.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Finally, Raymond James Financial lifted their price target on Element Fleet Management from C$36.00 to C$40.00 and gave the stock a "strong-buy" rating in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of C$40.00.

Element Fleet Management Trading Up 2.7%

The firm has a market capitalization of C$15.26 billion, a P/E ratio of 38.01, a PEG ratio of 2.97 and a beta of 0.54. 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 business has a 50-day moving average price of C$36.55 and a 200-day moving average price of C$32.97.

Element Fleet Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 15th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Monday, June 30th. Element Fleet Management's dividend payout ratio is currently 36.52%.

Insider Buying and Selling at Element Fleet Management

In related news, insider Heath Leslie Valkenburg acquired 813 shares of the stock in a transaction dated Wednesday, September 10th. The shares were bought at an average cost of C$36.90 per share, for a total transaction of C$29,999.70. Following the purchase, the insider owned 4,153 shares in the company, valued at approximately C$153,245.70. This trade represents a 24.34% increase in their position. Corporate 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.