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

Key Points

• Element Fleet Management's stock price recently crossed above its 200-day moving average, reaching C$36.57, indicating a potential upward trend in its market performance.
• Multiple analysts have raised their price targets for Element Fleet Management, with BMO Capital Markets and Royal Bank of Canada projecting targets of C$40.00 and C$47.00, respectively, and the stock currently holding an average rating of "Moderate Buy."
• The company declared a quarterly dividend of $0.13, translating to an annual yield of 1.4%, with a payout ratio of 39.84%.

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$31.94 and traded as high as C$36.57. Element Fleet Management shares last traded at C$36.56, with a volume of 1,114,578 shares.

Analyst Ratings Changes

Several brokerages recently issued reports on EFN. BMO Capital Markets boosted their price target 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. Royal Bank Of Canada increased their target price on Element Fleet Management from C$43.00 to C$47.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. TD Securities raised their target price on shares of Element Fleet Management from C$41.00 to C$42.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. National Bankshares boosted their price target on Element Fleet Management from C$46.00 to C$47.00 in a research note on Thursday, August 7th. Finally, Raymond James Financial raised their price objective on Element Fleet Management from C$36.00 to C$40.00 and gave the company a "strong-buy" rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Element Fleet Management currently has a consensus rating of "Moderate Buy" and a consensus price target of C$40.00.

Element Fleet Management Stock Down 0.1%

The company's fifty day moving average is C$35.74 and its 200-day moving average is C$32.12. The company has a quick ratio of 5.70, a current ratio of 7.04 and a debt-to-equity ratio of 303.64. The company has a market cap of C$14.69 billion, a PE ratio of 36.60, a PEG ratio of 2.97 and a beta of 0.49.

Element Fleet Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 15th were given a $0.13 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.4%. Element Fleet Management's dividend payout ratio (DPR) is presently 36.52%.

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.