FLEETCOR Technologies (NYSE:FLT) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of FLEETCOR Technologies (NYSE:FLTFree Report) from a hold rating to a buy rating in a report released on Friday morning.

A number of other research analysts also recently weighed in on the company. Jefferies Financial Group increased their price target on FLEETCOR Technologies from $325.00 to $330.00 and gave the company a buy rating in a research note on Wednesday, January 17th. Royal Bank of Canada raised their price objective on FLEETCOR Technologies from $270.00 to $302.00 and gave the stock a sector perform rating in a research note on Thursday, February 8th. Citigroup increased their target price on FLEETCOR Technologies from $300.00 to $325.00 and gave the stock a buy rating in a report on Friday, January 12th. TheStreet upgraded FLEETCOR Technologies from a c+ rating to a b- rating in a report on Friday, January 12th. Finally, JPMorgan Chase & Co. increased their target price on FLEETCOR Technologies from $285.00 to $337.00 and gave the stock an overweight rating in a report on Thursday, February 8th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, FLEETCOR Technologies has a consensus rating of Moderate Buy and an average target price of $296.33.

View Our Latest Stock Analysis on FLEETCOR Technologies

FLEETCOR Technologies Stock Down 0.9 %

NYSE:FLT opened at $270.95 on Friday. The stock’s fifty day moving average price is $279.27 and its two-hundred day moving average price is $261.60. FLEETCOR Technologies has a 52-week low of $185.04 and a 52-week high of $298.48. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.02 and a current ratio of 1.04. The company has a market cap of $19.56 billion, a price-to-earnings ratio of 20.53, a P/E/G ratio of 1.19 and a beta of 1.26.

FLEETCOR Technologies (NYSE:FLTGet Free Report) last posted its quarterly earnings data on Wednesday, February 7th. The business services provider reported $4.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.48 by ($0.04). FLEETCOR Technologies had a return on equity of 37.56% and a net margin of 26.13%. The firm had revenue of $937.32 million for the quarter, compared to analyst estimates of $967.01 million. During the same period in the prior year, the company posted $3.83 EPS. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, analysts anticipate that FLEETCOR Technologies will post 18.11 EPS for the current year.

Institutional Investors Weigh In On FLEETCOR Technologies

Hedge funds have recently bought and sold shares of the stock. Cullen Frost Bankers Inc. grew its stake in shares of FLEETCOR Technologies by 2.3% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,798 shares of the business services provider’s stock worth $508,000 after buying an additional 40 shares during the last quarter. Deseret Mutual Benefit Administrators increased its position in shares of FLEETCOR Technologies by 19.0% during the second quarter. Deseret Mutual Benefit Administrators now owns 257 shares of the business services provider’s stock worth $65,000 after acquiring an additional 41 shares in the last quarter. Toroso Investments LLC grew its position in FLEETCOR Technologies by 1.6% in the 3rd quarter. Toroso Investments LLC now owns 2,774 shares of the business services provider’s stock worth $708,000 after purchasing an additional 43 shares in the last quarter. CWM LLC grew its position in shares of FLEETCOR Technologies by 3.7% during the 2nd quarter. CWM LLC now owns 1,295 shares of the business services provider’s stock valued at $325,000 after acquiring an additional 46 shares during the period. Finally, Ossiam lifted its stake in shares of FLEETCOR Technologies by 7.9% during the 1st quarter. Ossiam now owns 682 shares of the business services provider’s stock valued at $144,000 after buying an additional 50 shares in the last quarter. 94.93% of the stock is currently owned by institutional investors and hedge funds.

About FLEETCOR Technologies

(Get Free Report)

FLEETCOR Technologies, Inc, a business payments company that helps businesses spend less by enabling them to manage their expense-related purchasing and vendor payments processes. It offers corporate payments solutions, such as accounts payable automation; Virtual Card, which provides a single-use card number for a specific amount usable within a defined timeframe; Cross-Border that is used by its customers to pay international vendors, foreign office and personnel expenses, capital expenditures, and profit repatriation and dividends; and purchasing cards and travel and entertainment cards for its customers to analyze and manage their corporate spending.

Further Reading

Analyst Recommendations for FLEETCOR Technologies (NYSE:FLT)

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