Barclays PLC Increases FleetCor Technologies Inc. (FLT) Price Target to $190.00
FleetCor Technologies Inc. (NYSE:FLT) had its target price increased by equities research analysts at Barclays PLC from $170.00 to $190.00 in a report issued on Wednesday, StockTargetPrices.com reports. The brokerage currently has an “overweight” rating on the stock. Barclays PLC’s price objective would indicate a potential upside of 13.33% from the company’s current price.
Other equities research analysts also recently issued reports about the company. Morgan Stanley set a $170.00 target price on FleetCor Technologies and gave the company a “buy” rating in a report on Friday, August 5th. Deutsche Bank AG raised their target price on FleetCor Technologies from $161.00 to $163.00 and gave the company a “buy” rating in a report on Friday, August 5th. Zacks Investment Research upgraded FleetCor Technologies from a “hold” rating to a “buy” rating and set a $169.00 target price on the stock in a report on Monday, July 25th. SunTrust Banks Inc. started coverage on FleetCor Technologies in a report on Friday, June 24th. They set a “buy” rating and a $175.00 target price on the stock. Finally, Jefferies Group raised their target price on FleetCor Technologies from $175.00 to $186.00 and gave the company a “buy” rating in a report on Monday, August 8th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $169.25.
FleetCor Technologies (NYSE:FLT) opened at 167.65 on Wednesday. FleetCor Technologies has a 12 month low of $107.56 and a 12 month high of $170.24. The stock’s 50 day moving average price is $164.64 and its 200-day moving average price is $152.00. The firm has a market capitalization of $15.52 billion, a P/E ratio of 40.19 and a beta of 1.25.
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FleetCor Technologies (NYSE:FLT) last released its quarterly earnings data on Thursday, August 4th. The company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.02. The company had revenue of $417.90 million for the quarter, compared to the consensus estimate of $415.20 million. FleetCor Technologies had a return on equity of 18.16% and a net margin of 22.97%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the business posted $1.48 EPS. On average, analysts forecast that FleetCor Technologies will post $6.85 earnings per share for the current year.
In related news, CEO Ronald Clarke sold 243,617 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $167.37, for a total transaction of $40,774,177.29. Following the completion of the transaction, the chief executive officer now owns 349,283 shares in the company, valued at approximately $58,459,495.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Todd House sold 4,327 shares of the business’s stock in a transaction that occurred on Tuesday, July 12th. The shares were sold at an average price of $150.00, for a total value of $649,050.00. Following the transaction, the insider now owns 11,637 shares of the company’s stock, valued at approximately $1,745,550. The disclosure for this sale can be found here. Corporate insiders own 4.30% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Checchi Capital Advisers LLC raised its position in FleetCor Technologies by 2.0% in the second quarter. Checchi Capital Advisers LLC now owns 776 shares of the company’s stock worth $111,000 after buying an additional 15 shares in the last quarter. Pacer Advisors Inc. raised its position in FleetCor Technologies by 10.4% in the second quarter. Pacer Advisors Inc. now owns 814 shares of the company’s stock worth $117,000 after buying an additional 77 shares in the last quarter. Invictus RG bought a new position in FleetCor Technologies during the second quarter worth about $125,000. Parametric Risk Advisors LLC bought a new position in FleetCor Technologies during the first quarter worth about $142,000. Finally, Advisory Services Network LLC raised its position in FleetCor Technologies by 144.1% in the second quarter. Advisory Services Network LLC now owns 1,084 shares of the company’s stock worth $155,000 after buying an additional 640 shares in the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.
About FleetCor Technologies
FleetCor Technologies, Inc is an independent global provider of fuel cards, commercial payment and data solutions, stored value solutions, and workforce payment products and services to businesses, retailers, commercial fleets, oil companies, petroleum marketers and government entities in countries throughout North America, Latin America, Europe, Australia and New Zealand.
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