FleetCor Technologies Receives Average Recommendation of “Buy” from Analysts (NYSE:FLT)
FleetCor Technologies (NYSE:FLT) has earned an average rating of “Buy” from the eight ratings firms that are covering the stock, AmericanBankingNews.com reports. Two investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $132.76.
In other FleetCor Technologies news, Insider William Schmit unloaded 21,968 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $131.43, for a total transaction of $2,887,254.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of FleetCor Technologies (NYSE:FLT) opened at 129.68 on Tuesday. FleetCor Technologies has a 1-year low of $84.56 and a 1-year high of $134.02. The stock has a 50-day moving average of $130.3 and a 200-day moving average of $119.9. The company has a market cap of $10.755 billion and a price-to-earnings ratio of 37.14. FleetCor Technologies also was the target of a significant increase in short interest in the month of June. As of June 13th, there was short interest totalling 855,620 shares, an increase of 69.0% from the May 30th total of 506,251 shares. Currently, 1.1% of the company’s shares are short sold. Based on an average daily volume of 558,077 shares, the short-interest ratio is presently 1.5 days.
FleetCor Technologies (NYSE:FLT) last posted its quarterly earnings results on Thursday, May 1st. The company reported $1.12 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.90 earnings per share. The company’s revenue for the quarter was up 31.1% on a year-over-year basis. On average, analysts predict that FleetCor Technologies will post $5.05 earnings per share for the current fiscal year.
FLT has been the subject of a number of recent research reports. Analysts at Goldman Sachs initiated coverage on shares of FleetCor Technologies in a research note on Tuesday. They set a “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.
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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