FleetCor Technologies, Inc. (FLT) Given Average Recommendation of “Buy” by Brokerages
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.
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.
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