Element Fleet Management (OTCMKTS:ELEEF) Shares Gap Up – Here’s Why

Element Fleet Management Corp. (OTCMKTS:ELEEF) gapped up prior to trading on Tuesday . The stock had previously closed at $18.63, but opened at $19.79. Element Fleet Management shares last traded at $19.98, with a volume of 2,000 shares changing hands.

Analysts Set New Price Targets

Separately, Jefferies Financial Group raised Element Fleet Management to a “buy” rating in a report on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to MarketBeat, Element Fleet Management has a consensus rating of “Buy”.

Element Fleet Management Stock Performance

The firm’s 50 day simple moving average is $21.31 and its 200-day simple moving average is $23.60. The company has a debt-to-equity ratio of 3.55, a quick ratio of 7.73 and a current ratio of 7.73. The company has a market capitalization of $8.02 billion and a price-to-earnings ratio of 27.34.

Element Fleet Management (OTCMKTS:ELEEF) last announced its earnings results on Wednesday, May 6th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. Element Fleet Management had a net margin of 23.95% and a return on equity of 23.87%. The company had revenue of $323.52 million for the quarter, compared to the consensus estimate of $311.40 million.

About Element Fleet Management

Element Fleet Management (OTCMKTS:ELEEF) is a leading global fleet management company headquartered in Toronto, Ontario. It provides comprehensive fleet leasing and management solutions for corporate and public sector clients, aiming to optimize vehicle acquisition, utilization and disposal strategies. The company focuses on delivering customizable programs that enhance operational efficiency and reduce total cost of ownership for light-, medium- and heavy-duty vehicles across diverse industries.

Element’s service portfolio encompasses full-service leasing and financing, maintenance management, policy administration, telematics and data analytics, fuel management and end-of-lease remarketing.