Element Fleet Management (TSE:EFN) Stock Price Passes Above 200-Day Moving Average - Here's What Happened

Element Fleet Management Corp. (TSE:EFN - Get Free Report)'s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$29.60 and traded as high as C$32.98. Element Fleet Management shares last traded at C$32.68, with a volume of 425,089 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. BMO Capital Markets increased their price objective on Element Fleet Management from C$33.00 to C$35.00 in a research note on Friday, May 2nd. National Bankshares lowered their price target on shares of Element Fleet Management from C$41.00 to C$40.00 and set an "outperform" rating for the company in a report on Thursday, February 27th. Keefe, Bruyette & Woods raised shares of Element Fleet Management to a "hold" rating in a report on Sunday, April 20th. Jefferies Financial Group decreased their price objective on shares of Element Fleet Management from C$31.00 to C$30.00 in a research report on Monday, April 21st. Finally, Raymond James increased their target price on shares of Element Fleet Management from C$34.00 to C$36.00 in a report on Friday, February 28th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Element Fleet Management has an average rating of "Moderate Buy" and an average price target of C$34.38.

Element Fleet Management Stock Performance

The company's 50-day moving average price is C$31.15 and its 200 day moving average price is C$29.60. The stock has a market capitalization of C$9.28 billion, a PE ratio of 26.87, a PEG ratio of 2.97 and a beta of 0.91. The company has a debt-to-equity ratio of 303.64, a quick ratio of 5.70 and a current ratio of 7.04.

Element Fleet Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 15th were paid a $0.13 dividend. This is an increase from Element Fleet Management's previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Monday, March 31st. Element Fleet Management's dividend payout ratio is presently 39.84%.

Insider Buying and Selling at Element Fleet Management

In other Element Fleet Management news, Senior Officer Carlos David Madrigal Gonzalez sold 10,230 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of C$30.77, for a total transaction of C$314,777.10. Also, Director Luis Manuel Enrique Tellez Kuenzler bought 4,300 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were acquired at an average price of C$31.58 per share, for a total transaction of C$135,781.10. 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.