Element Fleet Management (TSE:EFN) Shares Pass Above 200-Day Moving Average - What's Next?

Key Points

• Element Fleet Management shares surpassed their two hundred day moving average, trading as high as C$37.26 while the current trading price is C$37.18.
• Several analysts have raised their price targets for Element Fleet Management, with TD Securities increasing its target from C$41.00 to C$42.00 and National Bankshares raising its target from C$46.00 to C$47.00.
• The company recently declared a quarterly dividend of $0.13 per share, reflecting an annualized dividend of $0.52 and a yield of 1.4%.

Element Fleet Management Corp. (TSE:EFN - Get Free Report) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$32.63 and traded as high as C$37.26. Element Fleet Management shares last traded at C$37.18, with a volume of 547,477 shares.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. TD Securities raised their price target on Element Fleet Management from C$41.00 to C$42.00 and gave the stock 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 research report on Friday, August 8th. National Bankshares raised their price objective on shares of Element Fleet Management from C$46.00 to C$47.00 in a research report on Thursday, August 7th. 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 research report on Friday, August 8th. Finally, Raymond James Financial raised their price objective on shares of 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. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of C$40.00.

Element Fleet Management Stock Performance

The stock's 50-day moving average price is C$36.31 and its 200-day moving average price is C$32.63. The company has a debt-to-equity ratio of 303.64, a quick ratio of 5.70 and a current ratio of 7.04. The company has a market capitalization of C$14.93 billion, a price-to-earnings ratio of 37.18, a P/E/G ratio of 2.97 and a beta of 0.54.

Element Fleet Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 15th were given 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 dividend payout ratio (DPR) is presently 36.52%.

Insider Activity

In related news, insider Heath Leslie Valkenburg purchased 813 shares of Element Fleet Management stock in a transaction dated Wednesday, September 10th. The stock was bought at an average cost of C$36.90 per share, for a total transaction of C$29,999.70. Following the transaction, the insider owned 4,153 shares in the company, valued at approximately C$153,245.70. The trade was a 24.34% increase in their ownership of the stock. 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.

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