Element Fleet Management (TSE:EFN) Shares Pass Above 200 Day Moving Average - Time to Sell?

Key Points

• Element Fleet Management Corp. shares surpassed their 200-day moving average, reaching a high of C$37.92 during trading, with the last trade at C$37.42.
• Several analysts have raised their price targets for the stock, with Scotiabank increasing its target from C$33.00 to C$40.00, contributing to a consensus rating of "Moderate Buy."
• Insider Heath Leslie Valkenburg purchased 813 shares at C$36.90 each, increasing his ownership in the company by 24.34%.

Shares of Element Fleet Management Corp. (TSE:EFN - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$33.97 and traded as high as C$37.92. Element Fleet Management shares last traded at C$37.42, with a volume of 409,630 shares trading hands.

Analyst Upgrades and Downgrades

EFN has been the subject of several research reports. Scotiabank lifted their price target on Element Fleet Management from C$33.00 to C$40.00 in a report on Wednesday, July 23rd. National Bankshares boosted their price objective on Element Fleet Management from C$46.00 to C$47.00 in a research report on Thursday, August 7th. Raymond James Financial upped their price target on Element Fleet Management from C$36.00 to C$40.00 and gave the company a "strong-buy" rating in a research report on Thursday, August 7th. BMO Capital Markets boosted their price objective on Element Fleet Management from C$35.00 to C$40.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Finally, TD Securities upped their price target 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. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of C$40.00.

Element Fleet Management Stock Up 1.2%

The company has a 50 day moving average of C$36.74 and a 200-day moving average of C$33.97. The company has a debt-to-equity ratio of 303.64, a current ratio of 7.04 and a quick ratio of 5.70. The company has a market cap of C$15.02 billion, a P/E ratio of 37.42, a price-to-earnings-growth ratio of 2.97 and a beta of 0.49.

Insider Activity

In other Element Fleet Management news, insider Heath Leslie Valkenburg bought 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 completion of the purchase, the insider directly owned 4,153 shares of the company's stock, valued at C$153,245.70. This trade represents a 24.34% increase in their ownership of the stock. 0.26% of the stock is owned by 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.

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