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

Shares of Element Fleet Management Corp. (TSE:EFN) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred 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.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on EFN shares. CIBC upped their price objective on shares of Element Fleet Management from C$33.00 to C$34.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Raymond James raised their price target on shares of Element Fleet Management from C$30.00 to C$34.00 in a research note on Thursday, November 14th. TD Securities increased their price objective on shares of Element Fleet Management from C$32.00 to C$33.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Scotiabank cut their price target on shares of Element Fleet Management from C$33.00 to C$32.00 in a report on Thursday, November 14th. Finally, Jefferies Financial Group lowered shares of Element Fleet Management from a “buy” rating to a “hold” rating and dropped their price objective for the company from C$32.00 to C$30.00 in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Element Fleet Management currently has an average rating of “Moderate Buy” and an average target price of C$33.63.

Element Fleet Management Stock Performance

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 stock has a market cap of C$8.43 billion, a P/E ratio of 24.42, a PEG ratio of 2.97 and a beta of 0.91. The stock has a fifty day simple moving average of C$28.76 and a 200-day simple moving average of C$28.45.

Insiders Place Their Bets

In other news, Senior Officer Heath Leslie Valkenburg bought 2,550 shares of the stock in a transaction on Monday, December 16th. The stock was acquired at an average price of C$28.46 per share, with a total value of C$72,571.98. Also, Senior Officer Laura Lee Dottori-Attanasio bought 2,500 shares of the stock in a transaction on Monday, December 23rd. The stock was purchased at an average cost of C$28.78 per share, with a total value of C$71,950.00. Insiders have purchased 15,550 shares of company stock valued at $445,872 in the last 90 days. 0.26% of the stock is currently owned by insiders.

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.