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 rating of “Buy” from the seven brokerages that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is C$34.00.

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

Element Fleet Management Stock Performance

Shares of EFN stock opened at C$28.47 on Monday. Element Fleet Management has a 52 week low of C$21.20 and a 52 week high of C$30.49. The company has a market capitalization of C$8.16 billion, a price-to-earnings ratio of 23.63, a PEG ratio of 2.97 and a beta of 0.91. The company has a 50-day simple moving average of C$28.53 and a 200 day simple moving average of C$28.81. The company has a debt-to-equity ratio of 303.64, a quick ratio of 5.70 and a current ratio of 7.04.

Element Fleet Management Increases Dividend

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

Insiders Place Their Bets

In other Element Fleet Management news, Senior Officer Carlos David Madrigal Gonzalez bought 2,107 shares of Element Fleet Management stock in a transaction on Thursday, March 13th. The shares were purchased at an average price of C$27.06 per share, with a total value of C$57,010.36. Also, Senior Officer Laura Lee Dottori-Attanasio purchased 18,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of C$27.78 per share, with a total value of C$499,991.40. Corporate 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.