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

Element Fleet Management Corp. (TSE:EFN - Get Free Report)'s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$30.61 and traded as high as C$36.35. Element Fleet Management shares last traded at C$35.71, with a volume of 460,424 shares traded.

Wall Street Analysts Forecast Growth

EFN has been the topic of a number of analyst reports. 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. Royal Bank Of Canada upgraded shares of Element Fleet Management to a "moderate buy" rating and set a C$43.00 price objective on the stock in a research report on Wednesday, June 18th. BMO Capital Markets upped their target price on shares of Element Fleet Management from C$33.00 to C$35.00 in a report on Friday, May 2nd. Scotiabank increased their price objective on shares of Element Fleet Management from C$33.00 to C$40.00 in a research note on Wednesday, July 23rd. Finally, Keefe, Bruyette & Woods upgraded shares of Element Fleet Management to a "hold" rating in a research report on Sunday, April 20th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of C$36.38.

Element Fleet Management Stock Performance

The business's 50-day moving average price is C$33.71 and its 200-day moving average price is C$30.74. The company has a current ratio of 7.04, a quick ratio of 5.70 and a debt-to-equity ratio of 303.64. The stock has a market cap of C$10.25 billion, a PE ratio of 29.69, a P/E/G ratio of 2.97 and a beta of 0.91.

Element Fleet Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 15th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend was Monday, June 30th. Element Fleet Management's dividend payout ratio (DPR) is presently 39.84%.

Insider Buying and Selling

In related news, Director Luis Manuel Enrique Tellez Kuenzler bought 4,300 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was bought at an average cost of C$31.58 per share, for a total transaction of C$135,781.10. Also, Senior Officer Carlos David Madrigal Gonzalez sold 10,230 shares of Element Fleet Management stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of C$30.77, for a total transaction of C$314,777.10. 0.26% of the stock is owned by company 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.