FleetCor Technologies Given Average Recommendation of “Buy” by Brokerages (NYSE:FLT)
FleetCor Technologies (NYSE:FLT) has received an average recommendation of “Buy” from the eight ratings firms that are presently covering the stock, Analyst Ratings Net reports. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $132.76.
Several analysts have recently commented on the stock. Analysts at Goldman Sachs initiated coverage on shares of FleetCor Technologies in a research note on Tuesday. They set a “conviction-buy” rating on the stock. Separately, analysts at Raymond James reiterated an “outperform” rating on shares of FleetCor Technologies in a research note on Friday, May 2nd. They now have a $125.00 price target on the stock. Finally, analysts at Evercore Partners raised their price target on shares of FleetCor Technologies to $156.00 in a research note on Friday, May 2nd.
Shares of FleetCor Technologies (NYSE:FLT) traded down 0.84% on Tuesday, hitting $129.92. The stock had a trading volume of 221,559 shares. FleetCor Technologies has a 1-year low of $83.45 and a 1-year high of $134.02. The stock’s 50-day moving average is $129.4 and its 200-day moving average is $119.6. The company has a market cap of $10.775 billion and a price-to-earnings ratio of 37.77. FleetCor Technologies also was the recipient of a large growth in short interest in the month of June. As of June 13th, there was short interest totalling 855,620 shares, a growth of 69.0% from the May 30th total of 506,251 shares. Based on an average daily trading volume, of 558,077 shares, the days-to-cover ratio is presently 1.5 days. Currently, 1.1% of the shares of the company are short sold.
FleetCor Technologies (NYSE:FLT) last announced its earnings results on Thursday, May 1st. The company reported $1.12 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.07 by $0.05. The company had revenue of $253.90 million for the quarter, compared to the consensus estimate of $242.61 million. During the same quarter last year, the company posted $0.90 earnings per share. FleetCor Technologies’s revenue was up 31.1% compared to the same quarter last year. Analysts expect that FleetCor Technologies will post $5.04 EPS for the current fiscal year.
In other FleetCor Technologies news, Insider William Schmit sold 21,968 shares of the company’s stock on the open market in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $131.43, for a total transaction of $2,887,254.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
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.