Short Interest in FleetCor Technologies Drops By 56.9% (FLT)
FleetCor Technologies (NYSE:FLT) was the target of a significant decline in short interest during the month of July. As of July 31st, there was short interest totalling 439,437 shares, a decline of 56.9% from the July 15th total of 1,019,465 shares, Analyst Ratings Network reports. Currently, 0.6% of the company’s stock are short sold. Based on an average daily trading volume, of 499,638 shares, the short-interest ratio is currently 0.9 days.
A number of research firms have recently commented on FLT. Analysts at Jefferies Group raised their price target on shares of FleetCor Technologies from $139.00 to $149.00 in a research note on Monday, August 4th. They now have a “buy” rating on the stock. Separately, analysts at Barclays reiterated an “overweight” rating on shares of FleetCor Technologies in a research note on Friday, August 1st. They now have a $155.00 price target on the stock, up previously from $150.00. Finally, analysts at Piper Jaffray initiated coverage on shares of FleetCor Technologies in a research note on Wednesday, July 16th. They set a “neutral” rating and a $134.00 price target on the stock. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. FleetCor Technologies has an average rating of “Buy” and a consensus price target of $143.00.
Shares of FleetCor Technologies (NYSE:FLT) opened at 148.60 on Wednesday. FleetCor Technologies has a one year low of $96.40 and a one year high of $148.68. The stock has a 50-day moving average of $133.4 and a 200-day moving average of $124.2. The company has a market cap of $12.371 billion and a price-to-earnings ratio of 40.54.
FleetCor Technologies (NYSE:FLT) last released its earnings results on Thursday, July 31st. The company reported $1.27 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.25 by $0.02. The company had revenue of $273.50 million for the quarter, compared to the consensus estimate of $273.70 million. During the same quarter in the prior year, the company posted $1.00 earnings per share. The company’s quarterly revenue was up 23.8% on a year-over-year basis. Analysts expect that FleetCor Technologies will post $5.09 EPS 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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