FleetCor Technologies Inc. (FLT) Hits New 1-Year High at $169.03
Shares of FleetCor Technologies Inc. (NYSE:FLT) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $169.03 and last traded at $168.94, with a volume of 668,062 shares changing hands. The stock had previously closed at $164.46.
A number of analysts have issued reports on FLT shares. Zacks Investment Research raised FleetCor Technologies from a “hold” rating to a “buy” rating and set a $169.00 target price on the stock in a report on Monday, July 25th. SunTrust Banks Inc. started coverage on FleetCor Technologies in a report on Friday, June 24th. They issued a “buy” rating and a $175.00 target price on the stock. Morgan Stanley set a $170.00 target price on FleetCor Technologies and gave the company a “buy” rating in a report on Friday, August 5th. Deutsche Bank AG raised their target price on FleetCor Technologies from $161.00 to $163.00 and gave the company a “buy” rating in a report on Friday, August 5th. Finally, Jefferies Group raised their target price on FleetCor Technologies from $175.00 to $186.00 and gave the company a “buy” rating in a report on Monday, August 8th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $167.19.
The stock’s 50-day moving average is $150.99 and its 200 day moving average is $144.58. The firm has a market capitalization of $15.52 billion and a PE ratio of 40.19.
FleetCor Technologies (NYSE:FLT) last released its quarterly earnings data on Thursday, August 4th. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.02. The business earned $417.90 million during the quarter, compared to the consensus estimate of $415.20 million. FleetCor Technologies’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.48 EPS. Analysts expect that FleetCor Technologies Inc. will post $6.74 earnings per share for the current year.
In other news, EVP Charles Richard Freund sold 21,969 shares of the stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $149.00, for a total transaction of $3,273,381.00. Following the transaction, the executive vice president now owns 30,663 shares in the company, valued at $4,568,787. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Eric Dey sold 2,310 shares of the stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $149.83, for a total value of $346,107.30. Following the transaction, the chief financial officer now owns 7,520 shares in the company, valued at approximately $1,126,721.60. The disclosure for this sale can be found here.
Several institutional investors have recently made changes to their positions in FLT. BlackRock Advisors LLC raised its position in shares of FleetCor Technologies by 14.1% in the fourth quarter. BlackRock Advisors LLC now owns 188,583 shares of the company’s stock worth $26,954,000 after buying an additional 23,339 shares during the period. Schroder Investment Management Group raised its position in shares of FleetCor Technologies by 1,316.9% in the fourth quarter. Schroder Investment Management Group now owns 175,700 shares of the company’s stock worth $25,113,000 after buying an additional 163,300 shares during the period. Marshall Wace LLP purchased a new position in shares of FleetCor Technologies during the fourth quarter worth $3,683,000. Airain ltd raised its position in shares of FleetCor Technologies by 9.7% in the fourth quarter. Airain ltd now owns 15,912 shares of the company’s stock worth $2,274,000 after buying an additional 1,408 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its position in shares of FleetCor Technologies by 7.3% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 9,788 shares of the company’s stock worth $1,399,000 after buying an additional 663 shares during the period.
FleetCor Technologies, Inc is an independent global provider of fuel cards, commercial payment and data solutions, stored value solutions, and workforce payment products and services to businesses, retailers, commercial fleets, oil companies, petroleum marketers and government entities in countries throughout North America, Latin America, Europe, Australia and New Zealand.
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