Deutsche Bank Raises FleetCor Technologies (FLT) Price Target to $225.00
FleetCor Technologies (NYSE:FLT) had its price objective raised by investment analysts at Deutsche Bank from $185.00 to $225.00 in a research note issued on Tuesday. The firm currently has a “buy” rating on the business services provider’s stock. Deutsche Bank’s target price would indicate a potential upside of 22.55% from the stock’s current price.
Several other brokerages also recently weighed in on FLT. Oppenheimer upped their price objective on FleetCor Technologies from $185.00 to $194.00 and gave the stock an “outperform” rating in a research report on Thursday, November 2nd. Credit Suisse Group restated an “outperform” rating on shares of FleetCor Technologies in a research report on Tuesday, September 5th. Zacks Investment Research upgraded FleetCor Technologies from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a research report on Monday, October 9th. Citigroup upped their price objective on FleetCor Technologies from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Finally, Morgan Stanley upped their price objective on FleetCor Technologies from $184.00 to $189.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 18th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $187.31.
Shares of FleetCor Technologies (NYSE FLT) opened at $183.60 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.86. FleetCor Technologies has a 1 year low of $121.52 and a 1 year high of $186.04. The firm has a market capitalization of $16,196.17, a price-to-earnings ratio of 24.47, a P/E/G ratio of 1.32 and a beta of 1.53.
In other FleetCor Technologies news, insider Kurt Patrick Adams sold 7,099 shares of the stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $170.00, for a total value of $1,206,830.00. Following the completion of the transaction, the insider now directly owns 9,246 shares in the company, valued at $1,571,820. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.60% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the business. Commonwealth Bank of Australia raised its position in FleetCor Technologies by 13.0% in the second quarter. Commonwealth Bank of Australia now owns 740 shares of the business services provider’s stock valued at $105,000 after purchasing an additional 85 shares during the last quarter. First Personal Financial Services raised 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 acquiring an additional 263 shares during the last quarter. Fiduciary Trust Co. bought a new position in shares of FleetCor Technologies during the second quarter worth about $115,000. FNY Partners Fund LP bought a new position in shares of FleetCor Technologies during the third quarter worth about $125,000. Finally, Toronto Dominion Bank raised 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 acquiring an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 95.76% of the company’s stock.
About FleetCor Technologies
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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