Element Fleet Management (TSE:EFN) Share Price Passes Below 200-Day Moving Average – Should You Sell?

Element Fleet Management Corp. (TSE:EFN) 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 changing hands.

Analyst Upgrades and Downgrades

EFN has been the topic of several research analyst reports. Royal Bank Of Canada set a C$47.00 target price on Element Fleet Management and gave the stock an “outperform” rating in a research note on Monday, January 26th. Jefferies Financial Group upped their price target on shares of Element Fleet Management from C$41.00 to C$42.00 in a report on Thursday, October 30th. Raymond James Financial lifted their target price on shares of Element Fleet Management from C$40.00 to C$41.00 in a report on Thursday, November 13th. Scotiabank upped their price target on Element Fleet Management from C$40.00 to C$42.00 and gave the stock an “outperform” rating in a report on Friday, October 24th. Finally, National Bankshares upped their price objective on shares of Element Fleet Management from C$47.00 to C$48.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Element Fleet Management presently has an average rating of “Buy” and a consensus target price of C$43.14.

Element Fleet Management Stock Performance

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 market cap of C$14.02 billion, a price-to-earnings ratio of 32.76, a PEG ratio of 2.97 and a beta of 0.33. The firm has a 50 day simple moving average of C$35.64 and a 200-day simple moving average of C$36.33.

Element Fleet Management (TSE:EFN) last released its earnings results on Wednesday, November 12th. The financial services provider reported C$0.33 earnings per share for the quarter. Element Fleet Management had a return on equity of 11.33% and a net margin of 16.46%.The company had revenue of C$306.39 million during the quarter. As a group, analysts predict 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.