FleetCor Technologies Inc. (FLT) Receives Consensus Rating of “Buy” from Analysts
Shares of FleetCor Technologies Inc. (NYSE:FLT) have been given a consensus rating of “Buy” by the sixteen analysts that are covering the stock. Three equities research analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $171.00.
A number of research analysts recently commented on the stock. Barclays PLC boosted their price objective on shares of FleetCor Technologies from $160.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, August 5th. Morgan Stanley set a $170.00 target price on shares of FleetCor Technologies and gave the stock a “buy” rating in a research report on Friday, August 5th. Credit Suisse Group AG reissued a “hold” rating and issued a $150.00 target price on shares of FleetCor Technologies in a research report on Friday, August 5th. JPMorgan Chase & Co. boosted their target price on shares of FleetCor Technologies from $159.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, August 5th. Finally, Jefferies Group boosted their target price on shares of FleetCor Technologies from $175.00 to $186.00 and gave the stock a “buy” rating in a research report on Monday, August 8th.
Shares of FleetCor Technologies (NYSE:FLT) traded up 0.72% on Wednesday, reaching $172.30. 110,040 shares of the company’s stock traded hands. The firm has a market capitalization of $15.95 billion, a P/E ratio of 41.31 and a beta of 1.24. The company’s 50-day moving average is $168.58 and its 200-day moving average is $155.23. FleetCor Technologies has a 52 week low of $107.56 and a 52 week high of $174.96.
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FleetCor Technologies (NYSE:FLT) last announced its quarterly earnings data on Thursday, August 4th. The company reported $1.56 EPS for the quarter, beating the Zacks’ consensus estimate of $1.54 by $0.02. FleetCor Technologies had a net margin of 22.97% and a return on equity of 18.16%. The firm had revenue of $417.90 million for the quarter, compared to the consensus estimate of $415.20 million. During the same period in the previous year, the firm posted $1.48 earnings per share. The firm’s revenue was up 3.3% on a year-over-year basis. Equities research analysts anticipate that FleetCor Technologies will post $6.86 earnings per share for the current fiscal year.
In related news, Director Joseph W. Farrelly sold 1,200 shares of the company’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $168.73, for a total transaction of $202,476.00. Following the completion of the transaction, the director now directly owns 3,224 shares in the company, valued at approximately $543,985.52. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Todd House sold 4,347 shares of the business’s stock in a transaction on Friday, July 15th. The shares were sold at an average price of $151.99, for a total transaction of $660,700.53. Following the completion of the sale, the insider now directly owns 15,984 shares in the company, valued at approximately $2,429,408.16. The disclosure for this sale can be found here. Corporate insiders own 4.30% of the company’s stock.
A number of large investors have recently made changes to their positions in FLT. Aperio Group LLC raised its stake in shares of FleetCor Technologies by 56.9% in the first quarter. Aperio Group LLC now owns 14,360 shares of the company’s stock valued at $2,136,000 after buying an additional 5,206 shares during the period. Nisa Investment Advisors L.L.C. acquired a new stake in shares of FleetCor Technologies during the first quarter valued at about $431,000. BlackRock Inc. raised its stake in shares of FleetCor Technologies by 154.9% in the first quarter. BlackRock Inc. now owns 152,664 shares of the company’s stock valued at $22,708,000 after buying an additional 92,762 shares during the period. BlackRock Group LTD raised its stake in shares of FleetCor Technologies by 14.1% in the first quarter. BlackRock Group LTD now owns 513,887 shares of the company’s stock valued at $76,440,000 after buying an additional 63,466 shares during the period. Finally, BlackRock Institutional Trust Company N.A. raised its stake in shares of FleetCor Technologies by 4.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,026,748 shares of the company’s stock valued at $301,479,000 after buying an additional 93,087 shares during the period. 92.15% of the stock is currently owned by hedge funds and other institutional investors.
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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