FleetCor Technologies (NYSE:FLT) had its price target raised by equities researchers at Morgan Stanley from $194.00 to $232.00 in a report issued on Thursday. The firm currently has an “overweight” rating on the business services provider’s stock. Morgan Stanley’s target price suggests a potential upside of 9.37% from the stock’s current price.
Several other research firms have also weighed in on FLT. Zacks Investment Research lowered FleetCor Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Credit Suisse Group raised their price objective on FleetCor Technologies from $186.00 to $206.00 and gave the company a “neutral” rating in a research note on Wednesday, January 17th. 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 raised 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. Finally, Barclays raised 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. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. FleetCor Technologies currently has a consensus rating of “Buy” and a consensus target price of $198.36.
FleetCor Technologies (FLT) traded up $4.29 during trading hours on Thursday, reaching $212.12. The company had a trading volume of 514,817 shares, compared to its average volume of 536,364. The firm has a market capitalization of $19,000.00, a price-to-earnings ratio of 36.07, a PEG ratio of 1.40 and a beta of 1.53. 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 has a fifty-two week low of $121.52 and a fifty-two week high of $213.74.
In other FleetCor Technologies news, insider Kurt Patrick Adams sold 7,099 shares of the stock in a transaction dated Thursday, November 2nd. The stock was 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 $1,571,820. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.60% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of FLT. Robeco Institutional Asset Management B.V. raised its position in shares of FleetCor Technologies by 87.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 3,929 shares of the business services provider’s stock worth $756,000 after acquiring an additional 1,829 shares during the last quarter. First Personal Financial Services raised its position in shares of FleetCor Technologies by 31.4% during the fourth quarter. First Personal Financial Services now owns 1,020 shares of the business services provider’s stock worth $196,000 after acquiring an additional 244 shares during the last quarter. IFP Advisors Inc raised its position in shares of FleetCor Technologies by 20.5% during the fourth quarter. IFP Advisors Inc now owns 2,964 shares of the business services provider’s stock worth $570,000 after acquiring an additional 504 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of FleetCor Technologies during the fourth quarter worth about $216,000. Finally, First American Bank bought a new position in shares of FleetCor Technologies during the fourth quarter worth about $228,000. Hedge funds and other institutional investors own 95.17% of the company’s stock.
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.
