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.

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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.

Analyst Recommendations for FleetCor Technologies (NYSE:FLT)

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