SunTrust Banks, Inc. Reiterates $180.00 Price Target for FleetCor Technologies, Inc. (FLT)
FleetCor Technologies, Inc. (NYSE:FLT) has been given a $180.00 price objective by research analysts at SunTrust Banks, Inc. in a note issued to investors on Tuesday. The brokerage presently has a “buy” rating on the business services provider’s stock. SunTrust Banks, Inc.’s price objective suggests a potential upside of 9.87% from the company’s current price.
Other equities analysts also recently issued reports about the company. William Blair reissued an “outperform” rating on shares of FleetCor Technologies in a research report on Wednesday, July 12th. Zacks Investment Research downgraded FleetCor Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Citigroup Inc. reissued a “buy” rating and issued a $180.00 target price (up from $165.00) on shares of FleetCor Technologies in a research report on Thursday, July 13th. BidaskClub raised FleetCor Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. Finally, Keefe, Bruyette & Woods set a $202.00 target price on FleetCor Technologies and gave the company a “buy” rating in a research report on Monday, August 7th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $180.08.
FleetCor Technologies (NYSE FLT) opened at 163.83 on Tuesday. FleetCor Technologies has a 1-year low of $121.52 and a 1-year high of $176.42. The stock has a 50 day moving average price of $154.61 and a 200-day moving average price of $146.80. The stock has a market cap of $15.05 billion, a PE ratio of 32.39 and a beta of 1.44.
FleetCor Technologies (NYSE:FLT) last posted its earnings results on Thursday, August 3rd. The business services provider reported $1.83 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.83. FleetCor Technologies had a return on equity of 20.87% and a net margin of 23.28%. The company had revenue of $541.24 million during the quarter, compared to analyst estimates of $528.33 million. During the same quarter in the prior year, the business earned $1.56 earnings per share. FleetCor Technologies’s revenue was up 29.5% on a year-over-year basis. On average, equities analysts expect that FleetCor Technologies will post $8.38 EPS for the current year.
FleetCor Technologies declared that its board has approved a stock buyback program on Thursday, August 3rd that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the business services provider to reacquire up to 1.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.
In other FleetCor Technologies news, CEO Andrew Blazye sold 8,353 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 24,766 shares in the company, valued at $3,566,304. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 15,758 shares of company stock valued at $2,274,115. Insiders own 4.60% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Fox Run Management L.L.C. lifted its position in FleetCor Technologies by 75.0% in the third quarter. Fox Run Management L.L.C. now owns 6,300 shares of the business services provider’s stock valued at $975,000 after acquiring an additional 2,700 shares during the last quarter. APG Asset Management N.V. lifted its position in FleetCor Technologies by 4.9% in the third quarter. APG Asset Management N.V. now owns 49,078 shares of the business services provider’s stock valued at $7,596,000 after acquiring an additional 2,300 shares during the last quarter. Oakbrook Investments LLC purchased a new stake in FleetCor Technologies in the third quarter valued at $233,000. Tributary Capital Management LLC lifted its position in FleetCor Technologies by 7.3% in the third quarter. Tributary Capital Management LLC now owns 15,240 shares of the business services provider’s stock valued at $2,359,000 after acquiring an additional 1,040 shares during the last quarter. Finally, Shell Asset Management Co. lifted its position in FleetCor Technologies by 105.6% in the third quarter. Shell Asset Management Co. now owns 11,933 shares of the business services provider’s stock valued at $1,696,000 after acquiring an additional 6,129 shares during the last quarter. 97.65% of the stock is owned by hedge funds and other institutional investors.
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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