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

Shares of Element Fleet Management Corp. (TSE:EFN) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$34.39 and traded as high as C$37.82. Element Fleet Management shares last traded at C$37.71, with a volume of 297,404 shares traded.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. National Bankshares boosted their price objective on Element Fleet Management from C$46.00 to C$47.00 in a research report on Thursday, August 7th. BMO Capital Markets boosted their price objective on Element Fleet Management from C$35.00 to C$40.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Scotiabank upped their price target on Element Fleet Management from C$40.00 to C$42.00 and gave the company an “outperform” rating in a research report on Friday. Raymond James Financial upped their price target on Element Fleet Management from C$36.00 to C$40.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 7th. Finally, TD Securities upped their price target on Element Fleet Management from C$41.00 to C$42.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Element Fleet Management currently has an average rating of “Moderate Buy” and an average target price of C$40.25.

Element Fleet Management Price Performance

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 business has a 50-day moving average price of C$36.77 and a 200 day moving average price of C$34.39. The stock has a market cap of C$15.14 billion, a PE ratio of 37.71, a PEG ratio of 2.97 and a beta of 0.49.

Insider Transactions at Element Fleet Management

In related news, insider Heath Leslie Valkenburg acquired 813 shares of the company’s stock in a transaction that occurred on Wednesday, September 10th. The shares were acquired at an average price of C$36.90 per share, with a total value of C$29,999.70. Following the acquisition, the insider owned 4,153 shares of the company’s stock, valued at approximately C$153,245.70. This trade represents a 24.34% increase in their position. Company 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.