Element Fleet Management (TSE:EFN) Stock Price Crosses Below 200 Day Moving Average – Here’s Why

Shares of Element Fleet Management Corp. (TSE:EFN) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$28.44 and traded as low as C$28.29. Element Fleet Management shares last traded at C$28.62, with a volume of 413,529 shares changing hands.

Analyst Upgrades and Downgrades

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

Element Fleet Management Trading Up 0.8 %

The company has a market cap of C$8.43 billion, a PE ratio of 24.42, a price-to-earnings-growth ratio of 2.97 and a beta of 0.91. 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 company has a 50-day moving average of C$28.76 and a 200 day moving average of C$28.45.

Insider Buying and Selling at Element Fleet Management

In other Element Fleet Management news, Senior Officer Heath Leslie Valkenburg acquired 2,550 shares of Element Fleet Management stock in a transaction that occurred on Monday, December 16th. The stock was bought at an average price of C$28.46 per share, with a total value of C$72,571.98. Also, Senior Officer James Halliday sold 33,664 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of C$30.00, for a total transaction of C$1,009,920.00. Insiders acquired 15,550 shares of company stock worth $445,872 over the last 90 days. Company 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.