Barclays PLC Raises FleetCor Technologies Inc. (FLT) Price Target to $190.00
FleetCor Technologies Inc. (NYSE:FLT) had its price objective boosted by investment analysts at Barclays PLC from $170.00 to $190.00 in a research report issued on Wednesday. The firm currently has an “overweight” rating on the stock. Barclays PLC’s price objective suggests a potential upside of 13.33% from the stock’s previous close.
A number of other equities analysts also recently issued reports on the company. Monness Crespi & Hardt increased their target price on FleetCor Technologies from $173.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday. JPMorgan Chase & Co. reissued a “hold” rating on shares of FleetCor Technologies in a research note on Monday, June 6th. Deutsche Bank AG reissued a “buy” rating and set a $163.00 target price (down from $180.00) on shares of FleetCor Technologies in a research note on Thursday, September 1st. Zacks Investment Research downgraded FleetCor Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, August 10th. Finally, SunTrust Banks Inc. initiated coverage on FleetCor Technologies in a research note on Friday, June 24th. They set a “buy” rating and a $175.00 target price for the company. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. FleetCor Technologies has a consensus rating of “Buy” and a consensus price target of $169.25.
Shares of FleetCor Technologies (NYSE:FLT) opened at 167.65 on Wednesday. The stock has a 50 day moving average price of $164.64 and a 200-day moving average price of $152.00. FleetCor Technologies has a 52-week low of $107.56 and a 52-week high of $170.24. The stock has a market capitalization of $15.52 billion, a PE ratio of 40.19 and a beta of 1.25.
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FleetCor Technologies (NYSE:FLT) last posted its quarterly earnings data on Thursday, August 4th. The company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.02. The company earned $417.90 million during the quarter, compared to analysts’ expectations of $415.20 million. FleetCor Technologies had a return on equity of 18.16% and a net margin of 22.97%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the firm earned $1.48 EPS. On average, equities research analysts anticipate that FleetCor Technologies will post $6.85 EPS for the current fiscal year.
In related news, EVP Charles Richard Freund sold 21,969 shares of FleetCor Technologies stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $149.00, for a total value of $3,273,381.00. Following the transaction, the executive vice president now owns 30,663 shares in the company, valued at $4,568,787. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ronald Clarke sold 243,617 shares of FleetCor Technologies stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $167.37, for a total value 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 disclosure for this sale can be found here. Insiders own 4.30% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio boosted its position in shares of FleetCor Technologies by 5.2% in the second quarter. Public Employees Retirement System of Ohio now owns 35,579 shares of the company’s stock worth $5,092,000 after buying an additional 1,753 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of FleetCor Technologies by 5.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 120,409 shares of the company’s stock worth $17,235,000 after buying an additional 6,310 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of FleetCor Technologies by 11.8% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 27,327 shares of the company’s stock worth $3,911,000 after buying an additional 2,877 shares during the last quarter. Amalgamated Bank boosted its position in shares of FleetCor Technologies by 119.3% in the second quarter. Amalgamated Bank now owns 6,661 shares of the company’s stock worth $1,097,000 after buying an additional 3,624 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in shares of FleetCor Technologies by 2.5% in the second quarter. Legal & General Group Plc now owns 296,553 shares of the company’s stock worth $42,446,000 after buying an additional 7,297 shares during the last quarter. Hedge funds and other institutional investors own 92.15% of the company’s stock.
FleetCor Technologies Company Profile
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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