Insider Selling: Ronald Clarke Sells 750,000 Shares of FleetCor Technologies Stock (FLT)
FleetCor Technologies (NYSE:FLT) CEO Ronald Clarke sold 750,000 shares of the stock on the open market in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $104.86, for a total transaction of $78,645,000.00. Following the completion of the sale, the chief executive officer now directly owns 411,283 shares in the company. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on FLT shares. Analysts at Raymond James raised their price target on shares of FleetCor Technologies (NYSE:FLT) from $98.00 to $115.00 in a research note to investors on Wednesday. Separately, analysts at Barclays Capital raised their price target on shares of FleetCor Technologies (NYSE:FLT) from $115.00 to $120.00 in a research note to investors on Wednesday. They now have an “overweight” rating on the stock. Finally, analysts at Evercore Partners raised their price target on shares of FleetCor Technologies (NYSE:FLT) from $97.00 to $120.00 in a research note to investors on Thursday, August 22nd. They now have an “overweight” rating on the stock.
Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $97.30.
Shares of FleetCor Technologies (NYSE:FLT) traded down 0.01% on Friday, hitting $107.23. 496,622 shares of the company’s stock traded hands. FleetCor Technologies has a 52-week low of $43.06 and a 52-week high of $110.42. The stock’s 50-day moving average is $99.32 and its 200-day moving average is $84.57. The company has a market cap of $8.775 billion and a P/E ratio of 35.44.
FleetCor Technologies (NYSE:FLT) last released its earnings data on Thursday, August 1st. The company reported $1.00 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.95 by $0.05. The company had revenue of $220.90 million for the quarter, compared to the consensus estimate of $201.78 million. During the same quarter last year, the company posted $0.73 earnings per share. FleetCor Technologies’s revenue was up 28.6% compared to the same quarter last year. On average, analysts predict that FleetCor Technologies will post $3.91 earnings per share for the current fiscal year.
FleetCor Technologies, Inc, is an independent global provider of fuel cards and workforce payment products and services to businesses, commercial fleets, major oil companies, petroleum marketers and government entities in countries throughout North America, Latin America and Europe.
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