Oppenheimer Increases FleetCor Technologies (FLT) Price Target to $247.00

FleetCor Technologies (NYSE:FLT) had its price objective increased by equities research analysts at Oppenheimer from $194.00 to $247.00 in a report released on Monday. The firm presently has an “outperform” rating on the business services provider’s stock. Oppenheimer’s price objective would suggest a potential upside of 23.29% from the company’s current price.

A number of other brokerages have also weighed in on FLT. Zacks Investment Research upgraded shares of FleetCor Technologies from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a research report on Monday, October 9th. Citigroup increased their target price on shares of FleetCor Technologies from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Wells Fargo & Co set a $225.00 target price on shares of FleetCor Technologies and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Credit Suisse Group increased their target price on shares of FleetCor Technologies from $186.00 to $206.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 17th. Finally, Morgan Stanley increased their target price on shares of FleetCor Technologies from $184.00 to $189.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 18th. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. FleetCor Technologies has a consensus rating of “Buy” and an average target price of $206.43.

Shares of FleetCor Technologies (NYSE:FLT) traded down $7.17 during trading hours on Monday, reaching $200.34. 703,115 shares of the company’s stock were exchanged, compared to its average volume of 491,317. 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 capitalization of $17,940.00, a price-to-earnings ratio of 34.07, a PEG ratio of 1.37 and a beta of 1.51. FleetCor Technologies has a 12-month low of $121.52 and a 12-month high of $213.74.

Several hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its position in shares of FleetCor Technologies by 1.1% in the first quarter. Tower Research Capital LLC TRC now owns 1,059 shares of the business services provider’s stock valued at $160,000 after acquiring an additional 12 shares during the period. Checchi Capital Advisers LLC raised its stake in FleetCor Technologies by 2.0% in the second quarter. Checchi Capital Advisers LLC now owns 776 shares of the business services provider’s stock valued at $111,000 after purchasing an additional 15 shares in the last quarter. Fulton Bank raised its stake in FleetCor Technologies by 1.1% in the fourth quarter. Fulton Bank now owns 1,889 shares of the business services provider’s stock valued at $270,000 after purchasing an additional 20 shares in the last quarter. Boston Private Wealth LLC raised its stake in FleetCor Technologies by 1.8% in the first quarter. Boston Private Wealth LLC now owns 1,517 shares of the business services provider’s stock valued at $230,000 after purchasing an additional 27 shares in the last quarter. Finally, Telemus Capital LLC raised its stake in FleetCor Technologies by 0.5% in the second quarter. Telemus Capital LLC now owns 6,065 shares of the business services provider’s stock valued at $868,000 after purchasing an additional 28 shares in the last quarter. Institutional investors own 95.10% of the company’s stock.

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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.

Analyst Recommendations for FleetCor Technologies (NYSE:FLT)