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

Key Points

• Element Fleet Management shares rose 2.2% and crossed above their 200-day moving average of C$30.95, trading as high as C$32.19.
• Analysts remain broadly optimistic, with eight Buy ratings and a consensus rating of “Buy”; the average price target is C$41.88, despite recent target reductions from several firms.
• The company reported quarterly EPS of C$0.49 on revenue of C$879.58 million and pays a quarterly dividend of C$0.15, equivalent to a 1.9% annual yield. Insider activity was mixed, with recent purchases alongside a significant insider sale.

Element Fleet Management Corp. (TSE:EFN - Get Free Report)'s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$30.95 and traded as high as C$32.19. Element Fleet Management shares last traded at C$32.16, with a volume of 592,488 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on EFN. TD dropped their target price on Element Fleet Management from C$41.00 to C$38.00 and set a "buy" rating on the stock in a research report on Friday, May 8th. Raymond James Financial lowered Element Fleet Management from a "strong-buy" rating to an "outperform" rating and decreased their price objective for the company from C$42.50 to C$42.00 in a research note on Thursday, May 7th. Finally, Royal Bank Of Canada dropped their price objective on Element Fleet Management from C$47.00 to C$40.00 and set an "outperform" rating on the stock in a report on Friday, May 8th. Eight analysts have rated the stock with a Buy rating, According to data from MarketBeat, Element Fleet Management presently has a consensus rating of "Buy" and an average target price of C$41.88.

Element Fleet Management Trading Up 2.2%

The stock has a market cap of C$12.74 billion, a PE ratio of 43.46, a PEG ratio of 2.97 and a beta of 0.61. The company has a current ratio of -1,554.01, a quick ratio of 5.70 and a debt-to-equity ratio of 358.10. The firm has a fifty day simple moving average of C$29.06 and a two-hundred day simple moving average of C$30.95.

Element Fleet Management (TSE:EFN - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The financial services provider reported C$0.49 EPS for the quarter. The company had revenue of C$879.58 million during the quarter. Element Fleet Management had a return on equity of 10.62% and a net margin of 12.38%. As a group, equities analysts expect that Element Fleet Management Corp. will post 1.6884016 earnings per share for the current fiscal year.

Element Fleet Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 15th were given a dividend of $0.15 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.60 dividend on an annualized basis and a yield of 1.9%. Element Fleet Management's dividend payout ratio (DPR) is presently 52.84%.

Insider Transactions at Element Fleet Management

In other news, Director George Keith Graham acquired 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 16th. The shares were bought at an average cost of C$28.00 per share, with a total value of C$56,000.00. Following the acquisition, the director owned 27,000 shares in the company, valued at approximately C$756,000. This represents a 8.00% increase in their position. Also, insider James Halliday sold 67,102 shares of the business's stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of C$28.07, for a total value of C$1,883,553.14. Following the completion of the sale, the insider owned 54,301 shares of the company's stock, valued at C$1,524,229.07. The trade was a 55.27% decrease in their position. In the last three months, insiders bought 38,420 shares of company stock worth $1,073,612. 0.26% of the stock is currently owned by corporate 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. The company's suite of fleet management services deals with acquisition and financing, to program management and remarketing. ECN Capital operates across North America in three verticals of the equipment finance market: commercial and vendor finance, rail finance, and commercial aviation finance.

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