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

Element Fleet Management Corp. (TSE:EFN - Get Free Report)'s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$28.82 and traded as high as C$30.17. Element Fleet Management shares last traded at C$30.02, with a volume of 668,969 shares traded.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on EFN shares. CIBC increased their target price on Element Fleet Management from C$33.00 to C$34.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Raymond James upped their price target on Element Fleet Management from C$34.00 to C$36.00 in a research note on Friday, February 28th. Finally, National Bankshares lowered their price objective on Element Fleet Management from C$41.00 to C$40.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of C$34.00.

Element Fleet Management Stock Performance

The business has a 50 day moving average price of C$28.62 and a 200 day moving average price of C$28.84. The company has a debt-to-equity ratio of 303.64, a current ratio of 7.04 and a quick ratio of 5.70. The stock has a market capitalization of C$8.62 billion, a PE ratio of 24.97, a PEG ratio of 2.97 and a beta of 0.91.

Element Fleet Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 15th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.73%. This is an increase from Element Fleet Management's previous quarterly dividend of $0.12. The ex-dividend date was Monday, March 31st. Element Fleet Management's dividend payout ratio is 39.84%.

Insider Buying and Selling

In related news, Senior Officer Carlos David Madrigal Gonzalez purchased 2,107 shares of Element Fleet Management stock in a transaction dated Thursday, March 13th. The stock was purchased at an average cost of C$27.06 per share, for a total transaction of C$57,010.36. Also, Senior Officer Laura Lee Dottori-Attanasio acquired 18,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average price of C$27.78 per share, for a total transaction of C$499,991.40. 0.26% of the stock is owned by company insiders.

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.