Shares of FleetCor Technologies, Inc. (NYSE:FLT) have earned a consensus recommendation of “Hold” from the eighteen brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $287.06.
FLT has been the subject of several recent analyst reports. ValuEngine lowered FleetCor Technologies from a “hold” rating to a “sell” rating in a research note on Friday, January 3rd. Deutsche Bank lifted their price target on FleetCor Technologies from $316.00 to $362.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Jefferies Financial Group cut their price target on FleetCor Technologies from $290.00 to $270.00 in a research note on Thursday, December 26th. SunTrust Banks restated a “buy” rating and issued a $345.00 price target (up previously from $320.00) on shares of FleetCor Technologies in a research note on Thursday, October 10th. Finally, Zacks Investment Research upgraded FleetCor Technologies from a “hold” rating to a “buy” rating and set a $306.00 price target for the company in a research note on Tuesday, January 7th.
In other FleetCor Technologies news, insider Garnsey Colette acquired 1,250 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was acquired at an average cost of $40.66 per share, with a total value of $50,825.00. Also, insider Eales John acquired 2,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were acquired at an average cost of $39.79 per share, with a total value of $79,572.00. Insiders own 5.70% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Nuveen Asset Management LLC lifted its position in FleetCor Technologies by 1,371.2% in the second quarter. Nuveen Asset Management LLC now owns 679,917 shares of the business services provider’s stock valued at $190,955,000 after purchasing an additional 633,703 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in FleetCor Technologies by 7.9% in the second quarter. Price T Rowe Associates Inc. MD now owns 5,495,251 shares of the business services provider’s stock worth $1,543,341,000 after purchasing an additional 402,662 shares in the last quarter. BlackRock Inc. grew its stake in shares of FleetCor Technologies by 4.6% in the second quarter. BlackRock Inc. now owns 7,346,739 shares of the business services provider’s stock worth $2,063,332,000 after acquiring an additional 321,775 shares during the last quarter. Scout Investments Inc. purchased a new stake in shares of FleetCor Technologies in the third quarter worth $44,665,000. Finally, Vanguard Group Inc. boosted its position in shares of FleetCor Technologies by 1.5% during the second quarter. Vanguard Group Inc. now owns 9,324,995 shares of the business services provider’s stock valued at $2,618,924,000 after buying an additional 141,974 shares during the last quarter. 93.47% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE FLT traded up $4.72 during trading hours on Thursday, reaching $307.80. 419,041 shares of the stock traded hands, compared to its average volume of 968,876. The company has a market capitalization of $26.30 billion, a P/E ratio of 31.00, a price-to-earnings-growth ratio of 1.47 and a beta of 1.08. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.85. FleetCor Technologies has a 52-week low of $190.24 and a 52-week high of $315.75. The company’s 50-day simple moving average is $296.89 and its two-hundred day simple moving average is $292.90.
FleetCor Technologies (NYSE:FLT) last announced its quarterly earnings data on Wednesday, November 6th. The business services provider reported $3.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.90 by $0.20. The company had revenue of $681.00 million for the quarter, compared to analysts’ expectations of $679.68 million. FleetCor Technologies had a return on equity of 26.81% and a net margin of 37.08%. FleetCor Technologies’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period last year, the firm posted $2.68 EPS. As a group, sell-side analysts forecast that FleetCor Technologies will post 11.22 earnings per share for the current fiscal year.
About FleetCor Technologies
FleetCor Technologies, Inc provides commercial payment solutions in North America, Latin America, Europe, and Australasia. The company offers fuel payment solutions to businesses and government entities that operate vehicle fleets, as well as to oil and leasing companies, and fuel marketers. Its fuel payment products are in the form of plastic cards, electronic RFID tags, and paper vouchers to purchase fuel, oil, vehicle maintenance supplies and services, and building supplies.
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