Credit Suisse Group initiated coverage on shares of FleetCor Technologies (NYSE:FLT) in a report published on Thursday morning, BenzingaRatingsTable reports. The brokerage issued a neutral rating and a $335.00 target price on the business services provider’s stock.
Several other analysts have also recently weighed in on FLT. Citigroup raised their price target on FleetCor Technologies from $340.00 to $360.00 and gave the company a buy rating in a report on Wednesday. SunTrust Banks reissued a buy rating and issued a $345.00 target price (up previously from $320.00) on shares of FleetCor Technologies in a research note on Thursday, October 10th. Deutsche Bank raised their price target on FleetCor Technologies from $316.00 to $362.00 and gave the company a buy rating in a research report on Monday, December 16th. Raymond James assumed coverage on FleetCor Technologies in a research report on Monday, September 30th. They set a market perform rating and a $314.00 price target on the stock. Finally, Royal Bank of Canada initiated coverage on FleetCor Technologies in a research note on Monday, October 7th. They set a sector perform rating and a $324.00 price target for the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. FleetCor Technologies currently has an average rating of Hold and an average price target of $292.61.
Shares of FLT traded down $1.60 during mid-day trading on Thursday, reaching $316.70. 649,500 shares of the stock traded hands, compared to its average volume of 970,131. The company has a market cap of $27.62 billion, a price-to-earnings ratio of 30.11, a price-to-earnings-growth ratio of 1.58 and a beta of 1.08. FleetCor Technologies has a 1 year low of $196.49 and a 1 year high of $320.96. The firm has a fifty day moving average price of $297.69 and a 200 day moving average price of $293.99. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.85.
FleetCor Technologies (NYSE:FLT) last issued its quarterly earnings data on Wednesday, November 6th. The business services provider reported $3.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.90 by $0.20. The company had revenue of $681.00 million for the quarter, compared to the consensus estimate of $679.68 million. FleetCor Technologies had a return on equity of 26.81% and a net margin of 37.08%. The firm’s revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.68 earnings per share. On average, sell-side analysts anticipate that FleetCor Technologies will post 11.22 EPS for the current year.
In related news, insider Garnsey Colette acquired 1,250 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were purchased at an average price of $40.66 per share, for a total transaction of $50,825.00. Also, insider Eales John acquired 2,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was bought at an average price of $39.79 per share, for a total transaction of $79,572.00. Corporate insiders own 5.70% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Signaturefd LLC increased its stake in shares of FleetCor Technologies by 50.7% in the third quarter. Signaturefd LLC now owns 110 shares of the business services provider’s stock worth $32,000 after buying an additional 37 shares during the period. Strs Ohio boosted its position in FleetCor Technologies by 1.6% during the 3rd quarter. Strs Ohio now owns 2,554 shares of the business services provider’s stock valued at $732,000 after buying an additional 39 shares during the period. Bfsg LLC grew its holdings in FleetCor Technologies by 2.2% in the 3rd quarter. Bfsg LLC now owns 1,880 shares of the business services provider’s stock worth $539,000 after acquiring an additional 40 shares during the last quarter. Mason Street Advisors LLC grew its holdings in FleetCor Technologies by 0.3% in the 3rd quarter. Mason Street Advisors LLC now owns 12,333 shares of the business services provider’s stock worth $3,537,000 after acquiring an additional 40 shares during the last quarter. Finally, LS Investment Advisors LLC grew its holdings in FleetCor Technologies by 1.7% in the 3rd quarter. LS Investment Advisors LLC now owns 2,806 shares of the business services provider’s stock worth $805,000 after acquiring an additional 47 shares during the last quarter. Institutional investors own 93.43% of the company’s stock.
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.
Further Reading: Risk Tolerance
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