Element Fleet Management Corp. (TSE:EFN) Receives C$34.00 Consensus Target Price from Brokerages

Element Fleet Management Corp. (TSE:EFN) has been assigned a consensus recommendation of “Buy” from the seven ratings firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is C$34.00.

Several research firms recently commented on EFN. National Bankshares cut their target price on shares of Element Fleet Management from C$41.00 to C$40.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. CIBC lifted their price target on shares of Element Fleet Management from C$33.00 to C$34.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Finally, Raymond James boosted their price objective on shares of Element Fleet Management from C$34.00 to C$36.00 in a research note on Friday, February 28th.

Element Fleet Management Stock Performance

TSE:EFN opened at C$28.47 on Monday. The stock’s 50-day moving average is C$28.53 and its 200-day moving average is C$28.81. Element Fleet Management has a 1-year low of C$21.20 and a 1-year high of C$30.49. 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$8.16 billion, a P/E ratio of 23.63, a price-to-earnings-growth ratio of 2.97 and a beta of 0.91.

Element Fleet Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 15th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from Element Fleet Management’s previous quarterly dividend of $0.12. Element Fleet Management’s dividend payout ratio (DPR) is currently 39.84%.

Insider Buying and Selling at Element Fleet Management

In other Element Fleet Management news, Senior Officer Carlos David Madrigal Gonzalez purchased 2,107 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were 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 dated Tuesday, March 4th. The stock was bought at an average price of C$27.78 per share, with a total value of C$499,991.40. 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.