Element Fleet Management (TSE:EFN) Price Target Raised to C$35.00 at BMO Capital Markets

Element Fleet Management (TSE:EFN) had its price target upped by BMO Capital Markets from C$33.00 to C$35.00 in a report released on Friday morning,BayStreet.CA reports.

A number of other equities research analysts have also recently issued reports on EFN. National Bankshares dropped their target price on shares of 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. Keefe, Bruyette & Woods upgraded shares of Element Fleet Management to a “hold” rating in a research note on Sunday, April 20th. Raymond James increased their price target on Element Fleet Management from C$34.00 to C$36.00 in a research report on Friday, February 28th. Jefferies Financial Group cut their price objective on Element Fleet Management from C$31.00 to C$30.00 in a research report on Monday, April 21st. Finally, CIBC boosted their price objective on 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. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$34.38.

Element Fleet Management Price Performance

Shares of EFN stock opened at C$31.25 on Friday. 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’s fifty day simple moving average is C$28.93 and its 200 day simple moving average is C$28.95. Element Fleet Management has a one year low of C$22.19 and a one year high of C$31.41. The firm has a market cap of C$8.96 billion, a price-to-earnings ratio of 25.93, a P/E/G 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. Shareholders of record on Tuesday, April 15th were issued a dividend of $0.13 per share. This is a boost from Element Fleet Management’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend was Monday, March 31st. Element Fleet Management’s payout ratio is currently 39.84%.

Insider Activity

In related news, Senior Officer Laura Lee Dottori-Attanasio bought 18,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of C$27.78 per share, with a total value of C$499,991.40. Also, 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 bought at an average price of C$27.06 per share, for a total transaction of C$57,010.36. 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.