Element Fleet Management (TSE:EFN) Stock Price Passes Below 200 Day Moving Average – Here’s What Happened

Element Fleet Management Corp. (TSE:EFN)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$36.33 and traded as low as C$34.22. Element Fleet Management shares last traded at C$35.05, with a volume of 645,762 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Royal Bank Of Canada set a C$47.00 price objective on shares of Element Fleet Management and gave the company an “outperform” rating in a research report on Monday, January 26th. Jefferies Financial Group increased their target price on Element Fleet Management from C$41.00 to C$42.00 in a report on Thursday, October 30th. National Bankshares lifted their price target on Element Fleet Management from C$47.00 to C$48.00 and gave the stock an “outperform” rating in a report on Monday, October 27th. Raymond James Financial upped their price objective on Element Fleet Management from C$40.00 to C$41.00 in a research report on Thursday, November 13th. Finally, Scotiabank raised their target price on Element Fleet Management from C$40.00 to C$42.00 and gave the stock an “outperform” rating in a research report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of C$43.14.

Element Fleet Management Stock Performance

The firm has a fifty day simple moving average of C$35.64 and a 200-day simple moving average of C$36.33. The company has a quick ratio of 5.70, a current ratio of 7.04 and a debt-to-equity ratio of 303.64. The company has a market cap of C$14.02 billion, a PE ratio of 32.76, a price-to-earnings-growth ratio of 2.97 and a beta of 0.33.

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

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. 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.