FleetCor Technologies, Inc. (FLT) Given Consensus Rating of “Buy” by Brokerages

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.

FleetCor Technologies (NYSE:FLT) last announced its earnings results on Thursday, February 8th. The business services provider reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.09. The business had revenue of $610.00 million for the quarter, compared to analysts’ expectations of $605.87 million. FleetCor Technologies had a return on equity of 21.59% and a net margin of 32.90%. The business’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.90 EPS. analysts forecast that FleetCor Technologies will post 9.59 EPS for the current year.

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.

Analyst Recommendations for FleetCor Technologies (NYSE:FLT)

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