Element Fleet Management (TSE:EFN) Shares Cross Below 200 Day Moving Average – Time to Sell?

Shares of Element Fleet Management Corp. (TSE:EFN) passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of C$28.19 and traded as low as C$21.22. Element Fleet Management shares last traded at C$21.61, with a volume of 2,813,761 shares.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on EFN. Raymond James Financial cut their price objective on Element Fleet Management from C$42.00 to C$32.00 and set an “outperform” rating for the company in a research report on Tuesday, October 6th. RBC Dominion Securities lowered their price target on shares of Element Fleet Management from C$40.00 to C$33.00 and set an “outperform” rating on the stock in a research note on Thursday. Eight investment analysts have rated the stock with a Buy rating. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of C$39.75.

Element Fleet Management Stock Performance

The stock’s 50-day moving average price is C$25.18 and its 200-day moving average price is C$28.07. The company has a debt-to-equity ratio of 357.23, a quick ratio of 5.70 and a current ratio of -1,179.03. The company has a market capitalization of C$8.53 billion, a price-to-earnings ratio of 29.47, a P/E/G ratio of 2.97 and a beta of 0.60.

Element Fleet Management (TSE:EFN) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported C$0.48 EPS for the quarter. The business had revenue of C$451.94 million for the quarter. Element Fleet Management had a return on equity of 10.57% and a net margin of 12.17%. As a group, equities research analysts expect that Element Fleet Management Corp. will post 1.69 earnings per share for the current year.

Insiders Place Their Bets

In other Element Fleet Management news, insider Jose Manuel Tamayo bought 2,343 shares of the business’s stock in a transaction on Wednesday, September 16th. The stock was bought at an average price of C$24.75 per share, for a total transaction of C$57,989.25. Following the completion of the transaction, the insider owned 3,844 shares in the company, valued at approximately C$95,139. The trade was a 156.10% increase in their position. Also, insider Jacob Eisenberg sold 90,855 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of C$26.26, for a total transaction of C$2,385,852.30. Following the completion of the sale, the insider owned 64,897 shares in the company, valued at C$1,704,195.22. This represents a 58.33% decrease in their ownership of the stock. 0.26% of the stock is currently owned by insiders.

Element Fleet Management Company Profile

Element Fleet Management (TSX: EFN) is the largest publicly traded pure play automotive fleet manager in the world and a global leader in intelligent fleet and mobility solutions. Guided by our Purpose to Move the world through intelligent mobility, we help clients manage the vehicles, data, technology, and decisions that keep their businesses moving. Fleet is our foundation, and intelligent mobility is how we lead. By combining deep fleet expertise with connected technologies, data driven intelligence, and strategic partnerships, Element helps clients lower total cost of ownership, improve uptime and driver experience, and build more resilient operations.