FleetCor Technologies Inc. (FLT) Sees Large Volume Increase
FleetCor Technologies Inc. (NYSE:FLT) saw an uptick in trading volume on Wednesday . 1,410,440 shares traded hands during mid-day trading, an increase of 95% from the previous session’s volume of 722,376 shares.The stock last traded at $164.20 and had previously closed at $166.08.
A number of brokerages have recently issued reports on FLT. Zacks Investment Research cut shares of FleetCor Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, August 10th. JPMorgan Chase & Co. increased their price target on shares of FleetCor Technologies from $159.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, August 5th. Deutsche Bank AG increased their price target on shares of FleetCor Technologies from $161.00 to $163.00 and gave the company a “buy” rating in a research report on Friday, August 5th. Jefferies Group increased their price target on shares of FleetCor Technologies from $175.00 to $186.00 and gave the company a “buy” rating in a research report on Monday, August 8th. Finally, Keefe, Bruyette & Woods increased their price target on shares of FleetCor Technologies from $180.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, August 8th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $167.19.
The firm has a market capitalization of $15.20 billion and a P/E ratio of 39.37. The stock has a 50-day moving average of $159.11 and a 200 day moving average of $148.53.
FleetCor Technologies (NYSE:FLT) last released its quarterly earnings data on Thursday, August 4th. The company reported $1.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.54 by $0.02. The business earned $417.90 million during the quarter, compared to analysts’ expectations of $415.20 million. During the same period last year, the company earned $1.48 earnings per share. The firm’s revenue was up 3.3% compared to the same quarter last year. Equities research analysts anticipate that FleetCor Technologies Inc. will post $6.74 earnings per share for the current year.
In related news, insider Todd House sold 4,327 shares of the company’s stock in a transaction dated Tuesday, July 12th. The shares were sold at an average price of $150.00, for a total value of $649,050.00. Following the completion of the sale, the insider now directly owns 11,637 shares of the company’s stock, valued at $1,745,550. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Charles Richard Freund sold 21,969 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 30,663 shares of the company’s stock, valued at $4,568,787. The disclosure for this sale can be found here.
An institutional investor recently raised its position in FleetCor Technologies stock. BlackRock Advisors LLC raised its position in FleetCor Technologies Inc. (NYSE:FLT) by 14.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 188,583 shares of the company’s stock after buying an additional 23,339 shares during the period. BlackRock Advisors LLC owned approximately 0.20% of FleetCor Technologies worth $26,954,000 as of its most recent SEC filing.
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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