Element Fleet Management (TSE:EFN) Sets New 52-Week High - Still a Buy?

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) reached a new 52-week high during trading on Friday . The stock traded as high as C$37.72 and last traded at C$37.70, with a volume of 250582 shares trading hands. The stock had previously closed at C$37.01.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EFN. National Bankshares increased their price objective on shares of Element Fleet Management from C$46.00 to C$47.00 in a research note on Thursday, August 7th. Scotiabank raised their price objective on shares of Element Fleet Management from C$33.00 to C$40.00 in a report on Wednesday, July 23rd. TD Securities raised their price objective on shares of Element Fleet Management from C$41.00 to C$42.00 and gave the company a "buy" rating in a report on Thursday, August 7th. BMO Capital Markets raised their price objective on shares of Element Fleet Management from C$35.00 to C$40.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Finally, Royal Bank Of Canada raised their price objective on shares of Element Fleet Management from C$43.00 to C$47.00 and gave the company an "outperform" rating in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of C$40.00.

Element Fleet Management Stock Down 1.4%

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 stock has a market capitalization of C$15.05 billion, a PE ratio of 37.48, a P/E/G ratio of 2.97 and a beta of 0.54. The stock's fifty day simple moving average is C$36.59 and its 200-day simple moving average is C$33.07.

Element Fleet Management Announces Dividend

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

Insider Buying and Selling at Element Fleet Management

In related news, insider Heath Leslie Valkenburg purchased 813 shares of the business's stock in a transaction that occurred on Wednesday, September 10th. The shares were bought at an average cost of C$36.90 per share, with a total value of C$29,999.70. Following the acquisition, the insider owned 4,153 shares of the company's stock, valued at C$153,245.70. This represents a 24.34% increase in their ownership of the stock. Company 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.