William Blair Begins Coverage on FleetCor Technologies Inc. (FLT)
William Blair assumed coverage on shares of FleetCor Technologies Inc. (NYSE:FLT) in a note issued to investors on Thursday. The firm set an “outperform” rating on the stock.
FLT has been the subject of a number of other reports. SunTrust Banks Inc. assumed coverage on shares of FleetCor Technologies in a research note on Friday, June 24th. They issued a “buy” rating and a $175.00 price objective for the company. JPMorgan Chase & Co. raised shares of FleetCor Technologies from a “neutral” rating to an “overweight” rating and set a $159.00 price target for the company in a research report on Tuesday, July 12th. Zacks Investment Research raised shares of FleetCor Technologies from a “hold” rating to a “buy” rating and set a $169.00 price objective for the company in a research report on Monday, July 25th. Oppenheimer Holdings Inc. raised shares of FleetCor Technologies from a “market perform” rating to an “outperform” rating and set a $180.00 price objective for the company in a research report on Friday, August 5th. Finally, Barclays PLC increased their price target on shares of FleetCor Technologies from $160.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, August 5th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. FleetCor Technologies presently has an average rating of “Buy” and an average price target of $171.00.
FleetCor Technologies (NYSE:FLT) traded down 1.88% during trading on Thursday, hitting $168.74. 967,469 shares of the company traded hands. The stock has a market capitalization of $15.62 billion, a PE ratio of 40.46 and a beta of 1.24. The company’s 50 day moving average is $168.68 and its 200-day moving average is $155.35. FleetCor Technologies has a 52 week low of $107.56 and a 52 week high of $174.96.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/13/william-blair-begins-coverage-on-fleetcor-technologies-inc-flt.html
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, 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 business had revenue of $417.90 million for the quarter, compared to analysts’ expectations of $415.20 million. During the same quarter in the previous year, the business posted $1.48 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. Analysts predict that FleetCor Technologies will post $6.86 earnings per share for the current year.
In other news, CEO Ronald Clarke sold 243,617 shares of the business’s stock in a transaction dated 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 directly owns 349,283 shares of the company’s stock, valued at $58,459,495.71. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Todd House sold 8,000 shares of the business’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $163.00, for a total value of $1,304,000.00. Following the transaction, the insider now directly owns 19,637 shares of the company’s stock, valued at $3,200,831. The disclosure for this sale can be found here. Insiders own 4.30% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Soroban Capital Partners LP increased its position in shares of FleetCor Technologies by 18.5% in the first quarter. Soroban Capital Partners LP now owns 995,000 shares of the company’s stock worth $148,006,000 after buying an additional 155,000 shares in the last quarter. Southpoint Capital Advisors LP acquired a new stake in FleetCor Technologies during the first quarter valued at $70,656,000. Hillman Co. boosted its stake in FleetCor Technologies by 34.9% in the second quarter. Hillman Co. now owns 239,144 shares of the company’s stock valued at $34,229,000 after buying an additional 61,850 shares during the last quarter. Geode Capital Management LLC boosted its stake in FleetCor Technologies by 4.8% in the first quarter. Geode Capital Management LLC now owns 459,691 shares of the company’s stock valued at $68,338,000 after buying an additional 21,234 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in FleetCor Technologies by 63.3% in the first quarter. Wellington Management Group LLP now owns 1,303,071 shares of the company’s stock valued at $193,832,000 after buying an additional 505,080 shares during the last quarter. 92.15% of the stock is owned by institutional investors and hedge funds.
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.
Receive News & Ratings for FleetCor Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FleetCor Technologies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.