ValuEngine downgraded shares of FleetCor Technologies (NYSE:FLT) from a buy rating to a hold rating in a report issued on Friday morning.
Other research analysts have also recently issued reports about the company. Morgan Stanley lifted their price objective on FleetCor Technologies from $238.00 to $240.00 and gave the company a buy rating in a report on Friday, August 3rd. Wolfe Research assumed coverage on FleetCor Technologies in a report on Tuesday, July 17th. They set an outperform rating for the company. Citigroup lifted their price objective on FleetCor Technologies from $240.00 to $260.00 and gave the company a buy rating in a report on Friday, July 20th. Zacks Investment Research cut FleetCor Technologies from a buy rating to a hold rating in a report on Tuesday. Finally, Deutsche Bank reissued a buy rating on shares of FleetCor Technologies in a report on Thursday, September 27th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. FleetCor Technologies currently has a consensus rating of Buy and a consensus price target of $234.89.
FLT traded down $2.50 during trading on Friday, reaching $197.34. 728,106 shares of the company’s stock were exchanged, compared to its average volume of 796,243. The company has a market capitalization of $17.44 billion, a P/E ratio of 20.75, a P/E/G ratio of 1.21 and a beta of 1.51. FleetCor Technologies has a fifty-two week low of $174.31 and a fifty-two week high of $230.24. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.92 and a quick ratio of 0.88.
FleetCor Technologies (NYSE:FLT) last issued its quarterly earnings data on Tuesday, October 30th. The business services provider reported $2.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.66 by $0.02. The company had revenue of $619.60 million during the quarter, compared to analysts’ expectations of $609.75 million. FleetCor Technologies had a return on equity of 24.22% and a net margin of 33.01%. The business’s revenue was up 7.2% on a year-over-year basis. During the same period last year, the business earned $2.18 earnings per share. On average, equities research analysts expect that FleetCor Technologies will post 9.85 EPS for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in shares of FleetCor Technologies by 20.2% in the second quarter. BlackRock Inc. now owns 7,464,198 shares of the business services provider’s stock valued at $1,572,333,000 after buying an additional 1,254,098 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of FleetCor Technologies by 14.4% in the second quarter. Jennison Associates LLC now owns 4,598,370 shares of the business services provider’s stock valued at $968,647,000 after buying an additional 577,206 shares during the last quarter. Northern Trust Corp raised its holdings in shares of FleetCor Technologies by 76.7% in the second quarter. Northern Trust Corp now owns 941,094 shares of the business services provider’s stock valued at $198,242,000 after buying an additional 408,595 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of FleetCor Technologies by 146.2% in the second quarter. Bank of New York Mellon Corp now owns 892,986 shares of the business services provider’s stock valued at $188,107,000 after buying an additional 530,211 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of FleetCor Technologies by 0.9% in the third quarter. Wells Fargo & Company MN now owns 686,436 shares of the business services provider’s stock valued at $156,399,000 after buying an additional 5,855 shares during the last quarter. 98.21% of the stock is owned by institutional investors and hedge funds.
FleetCor Technologies Company Profile
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.
Further Reading: Fundamental Analysis – How It Helps Investors
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for FleetCor Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FleetCor Technologies and related companies with MarketBeat.com's FREE daily email newsletter.