Element Fleet Management (TSE:EFN) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Shares of Element Fleet Management Corp. (TSE:EFN) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$36.31 and traded as low as C$34.38. Element Fleet Management shares last traded at C$34.50, with a volume of 824,632 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Scotiabank lifted their price target on Element Fleet Management from C$40.00 to C$42.00 and gave the stock an “outperform” rating in a research note on Friday, October 24th. National Bankshares lifted their target price on shares of Element Fleet Management from C$47.00 to C$48.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Raymond James Financial increased their price target on shares of Element Fleet Management from C$40.00 to C$41.00 in a research report on Thursday, November 13th. Finally, Jefferies Financial Group raised their price target on shares of Element Fleet Management from C$41.00 to C$42.00 in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of C$42.00.

Element Fleet Management Stock Performance

The business has a fifty day moving average of C$36.40 and a 200 day moving average of C$36.31. The company has a market cap of C$13.80 billion, a P/E ratio of 32.24, a P/E/G ratio of 2.97 and a beta of 0.33. The company has a quick ratio of 5.70, a current ratio of 7.04 and a debt-to-equity ratio of 303.64.

Element Fleet Management (TSE:EFN) last issued its quarterly earnings data on Wednesday, November 12th. The financial services provider reported C$0.33 earnings per share (EPS) for the quarter. Element Fleet Management had a net margin of 16.46% and a return on equity of 11.33%. The business had revenue of C$306.39 million for the quarter. On average, equities analysts predict that Element Fleet Management Corp. will post 1.6884016 EPS for the current year.

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. The company’s suite of fleet management services deals with acquisition and financing, to program management and remarketing. ECN Capital operates across North America in three verticals of the equipment finance market: commercial and vendor finance, rail finance, and commercial aviation finance.