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

Key Points

• Element Fleet Management shares moved above their 200-day moving average, reaching C$31.79 and closing around C$31.58, compared with a 200-day average of C$31.08.
• Analysts remain broadly positive, with eight Buy ratings and an average price target of C$41.88, although TD, RBC, and Raymond James recently lowered their individual targets or ratings.
• The company reported quarterly EPS of C$0.49 on C$879.58 million in revenue and pays a quarterly dividend of C$0.15, equal to a 1.9% annual yield.

Element Fleet Management Corp. (TSE:EFN - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$31.08 and traded as high as C$31.79. Element Fleet Management shares last traded at C$31.58, with a volume of 985,479 shares changing hands.

Analysts Set New Price Targets

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

Element Fleet Management Trading Up 0.7%

The company has a quick ratio of 5.70, a current ratio of -1,554.01 and a debt-to-equity ratio of 358.10. The company has a market cap of C$12.51 billion, a P/E ratio of 42.68, a P/E/G ratio of 2.97 and a beta of 0.61. The business has a 50-day moving average price of C$28.60 and a two-hundred day moving average price of C$31.08.

Element Fleet Management (TSE:EFN - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported C$0.49 earnings per share (EPS) for the quarter. The business had revenue of C$879.58 million for the quarter. Element Fleet Management had a return on equity of 10.62% and a net margin of 12.38%. On average, analysts predict that Element Fleet Management Corp. will post 1.6884016 EPS for the current year.

Element Fleet Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 15th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Tuesday, June 30th. Element Fleet Management's dividend payout ratio (DPR) is 52.84%.

Insider Transactions at Element Fleet Management

In other Element Fleet Management news, Director George Keith Graham purchased 2,000 shares of the company's stock in a transaction that occurred on Tuesday, June 16th. The stock was acquired at an average cost of C$28.00 per share, with a total value of C$56,000.00. Following the completion of the purchase, the director directly 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 stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of C$28.07, for a total transaction of C$1,883,553.14. Following the completion of the transaction, the insider owned 54,301 shares in the company, valued at C$1,524,229.07. This represents a 55.27% decrease in their ownership of the stock. Insiders acquired a total of 38,420 shares of company stock worth $1,073,612 in the last quarter. 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. 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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