FleetCor Technologies, Inc. (NYSE:FLT) has received an average rating of “Buy” from the sixteen brokerages that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $187.92.
Several research analysts have commented on FLT shares. Credit Suisse Group restated an “outperform” rating on shares of FleetCor Technologies in a report on Tuesday, September 5th. Jefferies Group reissued a “buy” rating and set a $197.00 price objective on shares of FleetCor Technologies in a research report on Saturday, September 16th. Oppenheimer reissued an “outperform” rating and set a $185.00 price objective on shares of FleetCor Technologies in a research report on Tuesday, September 26th. Zacks Investment Research raised shares of FleetCor Technologies from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a report on Monday, October 9th. Finally, Morgan Stanley raised their price objective on shares of FleetCor Technologies from $184.00 to $189.00 and gave the stock an “overweight” rating in a report on Wednesday, October 18th.
In related news, insider Kurt Patrick Adams sold 7,099 shares of FleetCor Technologies stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $170.00, for a total value of $1,206,830.00. Following the completion of the sale, the insider now directly owns 9,246 shares in the company, valued at $1,571,820. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.30% of the company’s stock.
A number of institutional investors have recently made changes to their positions in FLT. Advisor Group Inc. boosted its position in FleetCor Technologies by 1.1% in the second quarter. Advisor Group Inc. now owns 3,890 shares of the business services provider’s stock valued at $543,000 after buying an additional 41 shares during the last quarter. Commonwealth Bank of Australia boosted its position in FleetCor Technologies by 13.0% in the 2nd quarter. Commonwealth Bank of Australia now owns 740 shares of the business services provider’s stock worth $105,000 after purchasing an additional 85 shares in the last quarter. Toronto Dominion Bank boosted its position in FleetCor Technologies by 11.1% in the 2nd quarter. Toronto Dominion Bank now owns 1,128 shares of the business services provider’s stock worth $163,000 after purchasing an additional 113 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of FleetCor Technologies by 4.3% during the 2nd quarter. Nordea Investment Management AB now owns 2,859 shares of the business services provider’s stock valued at $412,000 after buying an additional 119 shares in the last quarter. Finally, Commerce Bank lifted its position in shares of FleetCor Technologies by 11.2% during the 2nd quarter. Commerce Bank now owns 1,580 shares of the business services provider’s stock valued at $228,000 after buying an additional 159 shares in the last quarter. Institutional investors and hedge funds own 95.41% of the company’s stock.
Shares of FleetCor Technologies (NYSE FLT) traded down $0.95 during trading on Tuesday, hitting $192.43. 535,053 shares of the stock were exchanged, compared to its average volume of 1,105,486. FleetCor Technologies has a 12 month low of $121.52 and a 12 month high of $194.51. The stock has a market cap of $17,144.62, a PE ratio of 32.73, a price-to-earnings-growth ratio of 1.40 and a beta of 1.53. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.86.
FleetCor Technologies (NYSE:FLT) last announced its quarterly earnings data on Wednesday, November 1st. The business services provider reported $2.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.14 by $0.04. The company had revenue of $577.90 million during the quarter, compared to analysts’ expectations of $576.78 million. FleetCor Technologies had a net margin of 25.66% and a return on equity of 20.99%. The firm’s revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.92 EPS. analysts predict that FleetCor Technologies will post 7.76 earnings per share for the current year.
About FleetCor Technologies
FleetCor Technologies, Inc is a provider of workforce payment products. The Company offers fuel card payments product solutions, corporate payments products, toll products, lodging cards and gift cards. The Company operates through two segments: North America and International. Its products are sold to businesses, retailers, oil companies and marketers and government entities.
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