Element Fleet Management (TSE:EFN) Share Price Passes Above 200-Day Moving Average – Here’s Why

Element Fleet Management Corp. (TSE:EFN) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-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 trading hands.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Raymond James Financial lowered Element Fleet Management from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the stock from C$42.50 to C$42.00 in a report on Thursday, May 7th. Royal Bank Of Canada reduced their target price on Element Fleet Management from C$47.00 to C$40.00 and set an “outperform” rating for the company in a report on Friday, May 8th. Finally, TD decreased their target price 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. Eight investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Element Fleet Management has a consensus rating of “Buy” and a consensus target price of C$41.88.

Element Fleet Management Stock Performance

The firm has a market capitalization of C$12.67 billion, a price-to-earnings ratio of 43.23, a price-to-earnings-growth ratio of 2.97 and a beta of 0.61. The company has a debt-to-equity ratio of 358.10, a quick ratio of 5.70 and a current ratio of -1,554.01. The stock’s fifty day moving average is C$28.69 and its two-hundred day moving average is C$31.07.

Element Fleet Management (TSE:EFN) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported C$0.49 earnings per share for the quarter. The business had revenue of C$879.58 million during the quarter. Element Fleet Management had a net margin of 12.38% and a return on equity of 10.62%. Analysts forecast that Element Fleet Management Corp. will post 1.6884016 earnings per share for the current year.

Element Fleet Management Dividend Announcement

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

Insiders Place Their Bets

In other news, insider Laura Lee Dottori-Attanasio purchased 35,800 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were bought at an average price of C$27.94 per share, for a total transaction of C$1,000,252.00. Following the completion of the purchase, the insider owned 397,600 shares of the company’s stock, valued at C$11,108,944. This trade represents a 9.89% increase in their ownership of the stock. Also, insider James Halliday sold 67,102 shares of Element Fleet Management 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 value of C$1,883,553.14. Following the sale, the insider directly owned 54,301 shares in the company, valued at approximately C$1,524,229.07. This trade represents a 55.27% decrease in their position. In the last 90 days, insiders bought 38,420 shares of company stock worth $1,073,612. Insiders own 0.26% of the company’s stock.

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.