Analysts Set FleetCor Technologies, Inc. (FLT) Price Target at $171.00
Shares of FleetCor Technologies, Inc. (NYSE:FLT) have earned a consensus rating of “Buy” from the seventeen brokerages that are currently covering the stock. Three analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $171.00.
Several research firms have recently weighed in on FLT. William Blair began coverage on FleetCor Technologies in a report on Thursday. They issued an “outperform” rating for the company. Zacks Investment Research raised FleetCor Technologies from a “hold” rating to a “strong-buy” rating and set a $197.00 price objective for the company in a report on Tuesday, October 4th. Jefferies Group reissued a “buy” rating and issued a $186.00 price objective on shares of FleetCor Technologies in a report on Thursday, September 29th. Barclays PLC increased their price objective on FleetCor Technologies from $170.00 to $190.00 and gave the company an “overweight” rating in a report on Wednesday, September 21st. Finally, Monness Crespi & Hardt increased their price objective on FleetCor Technologies from $173.00 to $186.00 and gave the company a “buy” rating in a report on Monday, September 19th.
FleetCor Technologies (NYSE:FLT) opened at 171.40 on Wednesday. FleetCor Technologies has a 12-month low of $107.56 and a 12-month high of $174.96. The stock’s 50 day moving average is $168.92 and its 200 day moving average is $155.63. The stock has a market capitalization of $15.86 billion, a price-to-earnings ratio of 41.09 and a beta of 1.24.
FleetCor Technologies (NYSE:FLT) last announced its quarterly earnings results on Thursday, August 4th. The company reported $1.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.54 by $0.02. The firm earned $417.90 million during the quarter, compared to the consensus estimate of $415.20 million. FleetCor Technologies had a return on equity of 18.16% and a net margin of 22.97%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.48 earnings per share. Equities research analysts forecast that FleetCor Technologies will post $6.86 EPS for the current fiscal year.
In other news, CEO Ronald Clarke sold 243,617 shares of the firm’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $167.37, for a total value of $40,774,177.29. Following the completion of the transaction, the chief executive officer now owns 349,283 shares in the company, valued at $58,459,495.71. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Todd House sold 8,143 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $165.85, for a total value of $1,350,516.55. Following the completion of the transaction, the insider now owns 19,780 shares of the company’s stock, valued at approximately $3,280,513. The disclosure for this sale can be found here. 4.30% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Checchi Capital Advisers LLC boosted its position in shares of FleetCor Technologies by 2.0% in the second quarter. Checchi Capital Advisers LLC now owns 776 shares of the company’s stock worth $111,000 after buying an additional 15 shares in the last quarter. Pacer Advisors Inc. raised its stake in FleetCor Technologies by 10.4% in the second quarter. Pacer Advisors Inc. now owns 814 shares of the company’s stock worth $117,000 after buying an additional 77 shares during the last quarter. Invictus RG bought a new stake in FleetCor Technologies during the second quarter worth approximately $125,000. Parametric Risk Advisors LLC bought a new stake in FleetCor Technologies during the first quarter worth approximately $142,000. Finally, Advisory Services Network LLC raised its stake in FleetCor Technologies by 144.1% in the second quarter. Advisory Services Network LLC now owns 1,084 shares of the company’s stock worth $155,000 after buying an additional 640 shares during the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.
About FleetCor Technologies
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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