FleetCor Technologies (NYSE:FLT) had its price target raised by equities researchers at Credit Suisse Group from $186.00 to $206.00 in a note issued to investors on Wednesday. The firm presently has a “neutral” rating on the business services provider’s stock. Credit Suisse Group’s price objective suggests a potential upside of 2.08% from the stock’s previous close.
Several other research firms have also issued reports on FLT. Zacks Investment Research lowered FleetCor Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday. Wells Fargo & Co set a $225.00 price objective on FleetCor Technologies and gave the company a “buy” rating in a research note on Wednesday, January 10th. Deutsche Bank lifted their price objective on FleetCor Technologies from $185.00 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, December 5th. Barclays lifted their price objective on FleetCor Technologies from $180.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, November 2nd. Finally, Morgan Stanley lifted their price objective on FleetCor Technologies from $189.00 to $194.00 and gave the company an “overweight” rating in a research note on Thursday, November 2nd. Two equities 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 company’s stock. The company has an average rating of “Buy” and an average target price of $195.64.
FleetCor Technologies (FLT) traded down $1.47 during trading hours on Wednesday, reaching $201.80. The company had a trading volume of 348,900 shares, compared to its average volume of 604,230. The company has a market capitalization of $18,240.00, a price-to-earnings ratio of 34.32, a price-to-earnings-growth ratio of 1.27 and a beta of 1.53. FleetCor Technologies has a 12 month low of $121.52 and a 12 month high of $206.20. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.86.
FleetCor Technologies (NYSE:FLT) last posted its quarterly earnings data on Wednesday, November 1st. The business services provider reported $2.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.14 by $0.04. The company had revenue of $577.90 million during the quarter, compared to analyst estimates of $576.78 million. FleetCor Technologies had a return on equity of 20.99% and a net margin of 25.66%. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter last year, the company earned $1.92 earnings per share. equities analysts predict that FleetCor Technologies will post 7.76 earnings per share for the current year.
In other FleetCor Technologies news, insider Kurt Patrick Adams sold 7,099 shares of FleetCor Technologies stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $170.00, for a total transaction of $1,206,830.00. Following the completion of the sale, the insider now owns 9,246 shares of the company’s stock, valued at $1,571,820. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 4.60% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Capital Research Global Investors lifted its stake in shares of FleetCor Technologies by 156.8% in the 2nd quarter. Capital Research Global Investors now owns 5,377,010 shares of the business services provider’s stock valued at $775,419,000 after acquiring an additional 3,283,010 shares during the last quarter. Steadfast Capital Management LP lifted its stake in shares of FleetCor Technologies by 251.4% in the 2nd quarter. Steadfast Capital Management LP now owns 2,049,719 shares of the business services provider’s stock valued at $295,590,000 after acquiring an additional 1,466,464 shares during the last quarter. FMR LLC lifted its stake in shares of FleetCor Technologies by 50.4% in the 2nd quarter. FMR LLC now owns 3,979,648 shares of the business services provider’s stock valued at $573,905,000 after acquiring an additional 1,334,164 shares during the last quarter. Tiger Global Management LLC lifted its stake in shares of FleetCor Technologies by 62.8% in the 2nd quarter. Tiger Global Management LLC now owns 2,278,774 shares of the business services provider’s stock valued at $328,622,000 after acquiring an additional 879,049 shares during the last quarter. Finally, Southpoint Capital Advisors LP bought a new stake in shares of FleetCor Technologies in the 2nd quarter valued at about $86,526,000. 95.21% of the stock is owned by hedge funds and other institutional investors.
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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.