Credit Suisse Group Raises FleetCor Technologies (FLT) Price Target to $206.00
FleetCor Technologies (NYSE:FLT) had its target price upped by Credit Suisse Group from $186.00 to $206.00 in a research note issued to investors on Wednesday morning. The brokerage currently has a neutral rating on the business services provider’s stock.
Other equities research analysts have also recently issued reports about the company. Wells Fargo & Co set a $225.00 target price on FleetCor Technologies and gave the stock a buy rating in a research note on Wednesday, January 10th. Citigroup increased their target price on FleetCor Technologies from $180.00 to $200.00 and gave the stock a buy rating in a research note on Thursday, November 2nd. SunTrust Banks set a $180.00 target price on FleetCor Technologies and gave the stock a buy rating in a research note on Tuesday, October 24th. Zacks Investment Research raised FleetCor Technologies from a hold rating to a buy rating and set a $180.00 price objective on the stock in a research report on Monday, October 9th. Finally, Deutsche Bank increased their price objective on FleetCor Technologies from $185.00 to $225.00 and gave the company a buy rating in a research report on Tuesday, December 5th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $195.64.
FleetCor Technologies (NYSE FLT) traded up $3.40 during midday trading on Wednesday, hitting $206.65. The stock had a trading volume of 457,218 shares, compared to its average volume of 568,724. FleetCor Technologies has a 52-week low of $121.52 and a 52-week high of $207.03. The stock has a market capitalization of $18,510.00, a PE ratio of 35.14, a P/E/G ratio of 1.29 and a beta of 1.53. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.84 and a current ratio of 0.84.
In related news, insider Kurt Patrick Adams sold 7,099 shares of the stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $170.00, for a total transaction of $1,206,830.00. Following the sale, the insider now directly owns 9,246 shares of the company’s stock, valued at $1,571,820. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.60% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in FLT. Commonwealth Bank of Australia lifted its holdings in FleetCor Technologies by 13.0% in the second quarter. Commonwealth Bank of Australia now owns 740 shares of the business services provider’s stock valued at $105,000 after acquiring an additional 85 shares during the period. FNY Partners Fund LP bought a new position in FleetCor Technologies in the third quarter valued at about $125,000. Toronto Dominion Bank lifted its holdings in FleetCor Technologies by 11.1% in the second quarter. Toronto Dominion Bank now owns 1,128 shares of the business services provider’s stock valued at $163,000 after acquiring an additional 113 shares during the period. IBM Retirement Fund bought a new position in FleetCor Technologies in the third quarter valued at about $211,000. Finally, Commerzbank Aktiengesellschaft FI bought a new position in FleetCor Technologies in the third quarter valued at about $217,000. 95.21% of the stock is currently owned by institutional investors.
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FleetCor Technologies Company Profile
FleetCor Technologies, Inc is a provider of workforce payment products. The Company offers fuel card payments product solutions, corporate payments products, toll products, lodging cards and gift cards. The Company operates through two segments: North America and International. Its products are sold to businesses, retailers, oil companies and marketers and government entities.
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