FleetCor Technologies, Inc. (NYSE:FLT) has received a consensus rating of “Buy” from the sixteen brokerages that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $184.58.
FLT has been the subject of a number of recent research reports. Morgan Stanley raised their target price on shares of FleetCor Technologies from $184.00 to $189.00 and gave the company an “overweight” rating in a report on Wednesday, October 18th. Zacks Investment Research downgraded FleetCor Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. BidaskClub upgraded FleetCor Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. SunTrust Banks set a $180.00 price target on FleetCor Technologies and gave the stock a “buy” rating in a research report on Tuesday, October 24th. Finally, Credit Suisse Group restated an “outperform” rating on shares of FleetCor Technologies in a research report on Tuesday, September 5th.
FleetCor Technologies (NYSE FLT) traded down $1.03 during mid-day trading on Friday, hitting $180.84. 900,300 shares of the company were exchanged, compared to its average volume of 1,146,452. FleetCor Technologies has a 1 year low of $121.52 and a 1 year high of $184.06. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market capitalization of $16,196.17, a price-to-earnings ratio of 24.47, a PEG ratio of 1.32 and a beta of 1.53.
FleetCor Technologies (NYSE:FLT) last posted its earnings results on Wednesday, November 1st. The business services provider reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.04. FleetCor Technologies had a net margin of 25.66% and a return on equity of 20.99%. The firm had revenue of $577.90 million during the quarter, compared to analyst estimates of $576.78 million. During the same period last year, the firm posted $1.92 earnings per share. FleetCor Technologies’s revenue for the quarter was up 19.3% compared to the same quarter last year. research analysts anticipate that FleetCor Technologies will post 7.75 EPS for the current fiscal year.
In other news, insider Kurt Patrick Adams sold 7,099 shares of FleetCor Technologies stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $170.00, for a total transaction of $1,206,830.00. Following the completion of the sale, 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 SEC, which can be accessed through the SEC website. 4.60% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of FleetCor Technologies by 6.7% during the second quarter. Vanguard Group Inc. now owns 7,565,263 shares of the business services provider’s stock worth $1,090,988,000 after purchasing an additional 474,254 shares during the last quarter. Capital Research Global Investors increased its stake in shares of FleetCor Technologies by 156.8% during the second quarter. Capital Research Global Investors now owns 5,377,010 shares of the business services provider’s stock valued at $775,419,000 after buying an additional 3,283,010 shares during the period. FMR LLC increased its stake in shares of FleetCor Technologies by 50.4% during the second quarter. FMR LLC now owns 3,979,648 shares of the business services provider’s stock valued at $573,905,000 after buying an additional 1,334,164 shares during the period. Tiger Global Management LLC increased its stake in shares of FleetCor Technologies by 62.8% during the second quarter. Tiger Global Management LLC now owns 2,278,774 shares of the business services provider’s stock valued at $328,622,000 after buying an additional 879,049 shares during the period. Finally, Steadfast Capital Management LP increased its stake in shares of FleetCor Technologies by 251.4% during the second quarter. Steadfast Capital Management LP now owns 2,049,719 shares of the business services provider’s stock valued at $295,590,000 after buying an additional 1,466,464 shares during the period. Institutional investors and hedge funds own 95.76% 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.
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