Element Fleet Management (TSE:EFN) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Element Fleet Management Corp. (TSE:EFN) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$28.55 and traded as high as C$29.20. Element Fleet Management shares last traded at C$28.88, with a volume of 348,656 shares trading hands.

Wall Street Analysts Forecast Growth

EFN has been the subject of a number of recent analyst reports. TD Securities upped their price objective on shares of Element Fleet Management from C$32.00 to C$33.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. National Bankshares upped their target price on shares of Element Fleet Management from C$37.00 to C$39.00 in a research note on Thursday, November 14th. CIBC upped their target price on shares of Element Fleet Management from C$33.00 to C$34.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Scotiabank reduced their target price on shares of Element Fleet Management from C$33.00 to C$32.00 in a research note on Thursday, November 14th. Finally, Jefferies Financial Group lowered shares of Element Fleet Management from a “buy” rating to a “hold” rating and reduced their target price for the stock from C$32.00 to C$30.00 in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$33.63.

Element Fleet Management Stock Performance

The stock’s 50 day moving average price is C$28.79 and its 200 day moving average price is C$28.55. 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 company has a market capitalization of C$8.28 billion, a price-to-earnings ratio of 23.97, a P/E/G ratio of 2.97 and a beta of 0.91.

Insider Transactions at Element Fleet Management

In other Element Fleet Management news, Senior Officer Heath Leslie Valkenburg purchased 2,550 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were acquired at an average price of C$28.46 per share, for a total transaction of C$72,571.98. Also, Senior Officer Laura Lee Dottori-Attanasio bought 10,500 shares of Element Fleet Management stock in a transaction that occurred on Friday, December 13th. The shares were bought at an average cost of C$28.70 per share, with a total value of C$301,350.00. Insiders acquired a total of 15,550 shares of company stock worth $445,872 in the last three months. 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.