FleetCor Technologies, Inc. (NYSE:FLT) has been given a consensus recommendation of “Buy” by the sixteen research firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $209.21.
Several analysts have recently commented on the company. Wells Fargo & Co set a $225.00 price objective on FleetCor Technologies and gave the company a “buy” rating in a report on Wednesday, January 10th. Zacks Investment Research lowered FleetCor Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Credit Suisse Group increased their price objective on FleetCor Technologies from $209.00 to $211.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Oppenheimer increased their price objective on FleetCor Technologies from $185.00 to $194.00 and gave the company an “outperform” rating in a report on Thursday, November 2nd. Finally, Deutsche Bank increased their price objective on FleetCor Technologies from $185.00 to $225.00 and gave the company a “buy” rating in a report on Tuesday, December 5th.
Shares of FleetCor Technologies (FLT) traded up $0.57 during midday trading on Wednesday, reaching $194.77. The company’s stock had a trading volume of 714,175 shares, compared to its average volume of 620,660. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market cap of $17,304.33, a PE ratio of 24.56, a PEG ratio of 1.22 and a beta of 1.52. FleetCor Technologies has a 1-year low of $121.52 and a 1-year high of $213.74.
Hedge funds have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. raised 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 worth $967,000 after acquiring an additional 4,525 shares during the last quarter. Davidson Kempner Capital Management LP purchased a new position in FleetCor Technologies in the 3rd quarter worth $11,608,000. California Public Employees Retirement System raised its stake 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 worth $26,338,000 after acquiring an additional 7,377 shares during the last quarter. Ameriprise Financial Inc. raised its stake 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 worth $263,344,000 after acquiring an additional 404,670 shares during the last quarter. Finally, Kensico Capital Management Corp raised its stake 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 worth $69,647,000 after acquiring an additional 155,000 shares during the last quarter. Institutional investors own 95.38% of the company’s stock.
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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.
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