Insider Buying: Element Fleet Management (TSE:EFN) Insider Acquires 35,800 Shares of Stock

Element Fleet Management Corp. (TSE:EFN) insider Laura Lee Dottori-Attanasio purchased 35,800 shares of the firm’s stock in a transaction on Tuesday, June 16th. The shares were acquired at an average cost of C$27.94 per share, for a total transaction of C$1,000,252.00. Following the completion of the purchase, the insider directly owned 397,600 shares of the company’s stock, valued at approximately C$11,108,944. This represents a 9.89% increase in their position.

Element Fleet Management Trading Up 3.1%

Shares of TSE EFN traded up C$0.87 during mid-day trading on Wednesday, hitting C$28.74. The stock had a trading volume of 1,236,618 shares, compared to its average volume of 1,005,004. The company has a debt-to-equity ratio of 358.10, a quick ratio of 5.70 and a current ratio of -1,554.01. The business has a 50 day moving average price of C$29.27 and a two-hundred day moving average price of C$32.42. The firm has a market cap of C$11.38 billion, a P/E ratio of 38.84, a price-to-earnings-growth ratio of 2.97 and a beta of 0.66. Element Fleet Management Corp. has a 1 year low of C$25.32 and a 1 year high of C$38.26.

Element Fleet Management (TSE:EFN) last issued its quarterly earnings data on Wednesday, May 6th. The financial services provider reported C$0.49 earnings per share (EPS) for the quarter. The business had revenue of C$879.58 million for the quarter. Element Fleet Management had a net margin of 12.38% and a return on equity of 10.62%. On average, equities analysts anticipate that Element Fleet Management Corp. will post 1.6884016 EPS for the current fiscal year.

Element Fleet Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 15th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Tuesday, June 30th. Element Fleet Management’s payout ratio is 52.84%.

Analysts Set New Price Targets

Several analysts recently commented on EFN shares. TD Securities cut their price objective on shares of Element Fleet Management from C$42.00 to C$41.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Jefferies Financial Group raised shares of Element Fleet Management from a “hold” rating to a “buy” rating in a report on Monday, February 23rd. Raymond James Financial downgraded shares of Element Fleet Management from a “strong-buy” rating to an “outperform” rating and dropped their price target for the company from C$42.50 to C$42.00 in a report on Thursday, May 7th. Royal Bank Of Canada dropped their price target on shares of Element Fleet Management from C$47.00 to C$40.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. Finally, TD dropped their price target on shares of Element Fleet Management from C$41.00 to C$38.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Eight equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of C$41.88.

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.