FleetCor Technologies, Inc. (FLT) Receives Consensus Rating of “Buy” from Analysts

Shares of FleetCor Technologies, Inc. (NYSE:FLT) have received a consensus recommendation of “Buy” from the sixteen analysts that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $195.64.

Several equities research analysts have recently issued reports on FLT shares. Zacks Investment Research lowered shares of FleetCor Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Morgan Stanley raised their price target on shares of FleetCor Technologies from $184.00 to $189.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 18th. SunTrust Banks set a $180.00 price target on shares of FleetCor Technologies and gave the stock a “buy” rating in a research note on Tuesday, October 24th. Citigroup raised their price target on shares of FleetCor Technologies from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, November 2nd. Finally, Oppenheimer restated an “outperform” rating and set a $185.00 price target on shares of FleetCor Technologies in a research note on Tuesday, September 26th.

In related news, insider Kurt Patrick Adams sold 7,099 shares of FleetCor Technologies stock in a transaction that occurred on Thursday, November 2nd. The shares were 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 approximately $1,571,820. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.60% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. grew its stake in FleetCor Technologies by 207.3% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 6,708 shares of the business services provider’s stock valued at $967,000 after buying an additional 4,525 shares in the last quarter. Davidson Kempner Capital Management LP bought a new position in FleetCor Technologies in the 3rd quarter valued at $11,608,000. California Public Employees Retirement System boosted its holdings in FleetCor Technologies by 4.5% in the 3rd quarter. California Public Employees Retirement System now owns 170,177 shares of the business services provider’s stock valued at $26,338,000 after purchasing an additional 7,377 shares during the period. Ameriprise Financial Inc. boosted its holdings in FleetCor Technologies by 31.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,701,521 shares of the business services provider’s stock valued at $263,344,000 after purchasing an additional 404,670 shares during the period. Finally, Kensico Capital Management Corp boosted its holdings in FleetCor Technologies by 52.5% in the 3rd quarter. Kensico Capital Management Corp now owns 450,000 shares of the business services provider’s stock valued at $69,647,000 after purchasing an additional 155,000 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.

Shares of FleetCor Technologies (NYSE FLT) traded up $3.40 during mid-day trading on Friday, hitting $206.65. 457,218 shares of the stock traded hands, compared to its average volume of 575,485. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.84 and a current ratio of 0.84. FleetCor Technologies has a 12 month low of $121.52 and a 12 month high of $207.03. The stock has a market cap of $18,510.00, a price-to-earnings ratio of 35.14, a P/E/G ratio of 1.27 and a beta of 1.53.

FleetCor Technologies (NYSE:FLT) last issued its quarterly earnings results on Wednesday, November 1st. The business services provider reported $2.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.14 by $0.04. FleetCor Technologies had a net margin of 25.66% and a return on equity of 20.99%. The company had revenue of $577.90 million during the quarter, compared to analyst estimates of $576.78 million. During the same quarter last year, the business posted $1.92 EPS. FleetCor Technologies’s quarterly revenue was up 19.3% compared to the same quarter last year. equities research analysts anticipate that FleetCor Technologies will post 7.76 earnings per share for the current fiscal year.

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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.

Analyst Recommendations for FleetCor Technologies (NYSE:FLT)

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