Shares of FleetCor Technologies, Inc. (NYSE:FLT) have earned an average rating of “Buy” from the fifteen ratings firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $179.64.

Several brokerages have recently weighed in on FLT. Zacks Investment Research upgraded shares of FleetCor Technologies from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a research report on Monday. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $185.00 target price on shares of FleetCor Technologies in a research report on Tuesday, September 26th. Jefferies Group LLC reiterated a “buy” rating and set a $197.00 target price on shares of FleetCor Technologies in a research report on Saturday, September 16th. Credit Suisse Group reiterated an “outperform” rating on shares of FleetCor Technologies in a research report on Tuesday, September 5th. Finally, BidaskClub upgraded shares of FleetCor Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th.

Shares of FleetCor Technologies (NYSE:FLT) traded down 0.76% during trading on Thursday, reaching $160.35. 587,022 shares of the company’s stock were exchanged. FleetCor Technologies has a 52-week low of $121.52 and a 52-week high of $176.42. The company has a market capitalization of $14.73 billion, a PE ratio of 31.70 and a beta of 1.44. The company has a 50 day moving average price of $149.77 and a 200-day moving average price of $145.91.

FleetCor Technologies (NYSE:FLT) last issued its earnings results on Thursday, August 3rd. The business services provider reported $1.83 earnings per share for the quarter, meeting the consensus estimate of $1.83. FleetCor Technologies had a net margin of 23.28% and a return on equity of 20.87%. The business had revenue of $541.24 million for the quarter, compared to analyst estimates of $528.33 million. During the same period in the previous year, the business earned $1.56 EPS. The firm’s revenue was up 29.5% on a year-over-year basis. On average, equities analysts forecast that FleetCor Technologies will post $8.38 earnings per share for the current year.

FleetCor Technologies declared that its board has approved a share buyback plan on Thursday, August 3rd that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the business services provider to purchase up to 1.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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In other FleetCor Technologies news, CEO Andrew Blazye sold 8,353 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $144.00, for a total value of $1,202,832.00. Following the transaction, the chief executive officer now directly owns 24,766 shares in the company, valued at $3,566,304. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders sold 15,758 shares of company stock worth $2,274,115. Company insiders own 4.30% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Commonwealth Bank of Australia lifted its position in shares of FleetCor Technologies by 13.0% during the second quarter. Commonwealth Bank of Australia now owns 740 shares of the business services provider’s stock worth $105,000 after purchasing an additional 85 shares in the last quarter. First Personal Financial Services lifted its position in shares of FleetCor Technologies by 49.9% during the second quarter. First Personal Financial Services now owns 790 shares of the business services provider’s stock worth $114,000 after purchasing an additional 263 shares in the last quarter. Fiduciary Trust Co. acquired a new position in shares of FleetCor Technologies during the second quarter worth approximately $115,000. Tower Research Capital LLC TRC lifted its position in shares of FleetCor Technologies by 1.1% during the first quarter. Tower Research Capital LLC TRC now owns 1,059 shares of the business services provider’s stock worth $160,000 after purchasing an additional 12 shares in the last quarter. Finally, Toronto Dominion Bank lifted its position in shares of FleetCor Technologies by 11.1% during the second quarter. Toronto Dominion Bank now owns 1,128 shares of the business services provider’s stock worth $163,000 after purchasing an additional 113 shares in the last quarter. Institutional investors own 97.61% of the company’s stock.

FleetCor Technologies Company Profile

FleetCor Technologies, Inc is a provider of workforce payment products. The Company offers fuel card payments product solutions, corporate payments products, toll products, lodging cards and gift cards. The Company operates through two segments: North America and International. Its products are sold to businesses, retailers, oil companies and marketers and government entities.

Analyst Recommendations for FleetCor Technologies (NYSE:FLT)

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