Insider Selling: FleetCor Technologies Insider Sells 40,232 Shares of Stock (FLT)
FleetCor Technologies (NYSE:FLT) Insider Timothy Downs sold 40,232 shares of the company’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $148.12, for a total transaction of $5,959,163.84. Following the completion of the sale, the insider now directly owns 31,216 shares of the company’s stock, valued at approximately $4,623,714. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
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 equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $143.00.
FleetCor Technologies (NYSE:FLT) traded down 0.17% during mid-day trading on Monday, hitting $147.86. The stock had a trading volume of 1,190,784 shares. FleetCor Technologies has a 52 week low of $98.41 and a 52 week high of $149.92. The stock’s 50-day moving average is $134.7 and its 200-day moving average is $124.8. The company has a market cap of $12.309 billion and a price-to-earnings ratio of 40.80.
FleetCor Technologies (NYSE:FLT) last announced 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. On average, analysts predict that FleetCor Technologies will post $5.09 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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