FleetMatics Group PLC Trading Down 10.5% Following Analyst Downgrade (FLTX)
FleetMatics Group PLC (NASDAQ:FLTX) shares were down 10.5% during trading on Friday after FBR Capital Markets lowered their price target on the stock from $50.00 to $42.00, Stock Ratings Network reports. FBR Capital Markets currently has an outperform rating on the stock. FleetMatics Group PLC traded as low as $33.54 and last traded at $35.75, with a volume of 5,243,859 shares traded. The stock had previously closed at $39.95.
FLTX has been the subject of a number of other recent research reports. Analysts at First Analysis initiated coverage on shares of FleetMatics Group PLC in a research note on Tuesday, January 14th. They set an “overweight” rating and a $40.16 price target on the stock. Analysts at Midtown Partners initiated coverage on shares of FleetMatics Group PLC in a research note on Tuesday, December 3rd. They set a “neutral” rating on the stock. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $43.69.
In other FleetMatics Group PLC news, CFO Stephen Lifshatz unloaded 7,500 shares of the stock on the open market in a transaction dated Friday, February 14th. The stock was sold at an average price of $38.88, for a total value of $291,600.00. Following the sale, the chief financial officer now directly owns 1 shares in the company, valued at approximately $39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
The stock has a 50-day moving average of $40.03 and a 200-day moving average of $39.44. The company has a market cap of $1.344 billion and a P/E ratio of 73.71.
FleetMatics Group PLC (NASDAQ:FLTX) last announced its earnings results on Thursday, February 20th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.20. The company had revenue of $50.10 million for the quarter, compared to the consensus estimate of $49.04 million. Analysts expect that FleetMatics Group PLC will post $1.12 EPS for the current fiscal year.
Fleetmatics Group PLC (NASDAQ:FLTX) is a provider of fleet management solutions delivered as software-as-a-service (SaaS).
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