FleetCor Technologies Inc. (NYSE:FLT) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday. The brokerage presently has a $197.00 price objective on the stock. Zacks Investment Research’s price target suggests a potential upside of 15.02% from the company’s current price.

According to Zacks, “FleetCor is a leading independent global provider of fuel cards, commercial payment and data solutions, lodging and transportation management services, stored value solutions, and workforce payment products and services to businesses, retailers, commercial fleets, major oil companies, petroleum marketers and government entities in countries throughout North America, Latin America, Europe, Australia and New Zealand. They also provide a suite of fleet related and workforce payment solution products, including mobile telematics services, fleet maintenance management and employee benefit and transportation related payments. “

A number of other research firms have also recently commented on FLT. Jefferies Group reiterated a “buy” rating and set a $186.00 target price on shares of FleetCor Technologies in a research note on Thursday, September 29th. Barclays PLC lifted their target price on FleetCor Technologies from $170.00 to $190.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 21st. Monness Crespi & Hardt lifted their target price on FleetCor Technologies from $173.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday, September 19th. Deutsche Bank AG reiterated a “buy” rating and set a $163.00 target price (down from $180.00) on shares of FleetCor Technologies in a research note on Thursday, September 1st. Finally, JPMorgan Chase & Co. lifted their target price on FleetCor Technologies from $159.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, August 5th. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $171.00.

FleetCor Technologies (NYSE:FLT) traded down 0.83% during midday trading on Tuesday, reaching $171.27. 590,812 shares of the company traded hands. FleetCor Technologies has a one year low of $107.56 and a one year high of $174.84. The firm has a market capitalization of $15.85 billion, a price-to-earnings ratio of 41.06 and a beta of 1.24. The firm has a 50-day moving average price of $167.84 and a 200-day moving average price of $154.33.

FleetCor Technologies (NYSE:FLT) last released its earnings results on Thursday, August 4th. The company reported $1.56 EPS for the quarter, topping the Zacks’ consensus estimate of $1.54 by $0.02. The company had revenue of $417.90 million for the quarter, compared to analysts’ expectations of $415.20 million. FleetCor Technologies had a return on equity of 18.16% and a net margin of 22.97%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.48 EPS. Equities analysts predict 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 shares were sold at an average price of $167.37, for a total transaction of $40,774,177.29. Following the sale, the chief executive officer now owns 349,283 shares in the company, valued at approximately $58,459,495.71. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Joseph W. Farrelly sold 1,200 shares of the firm’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $168.73, for a total transaction of $202,476.00. Following the sale, the director now owns 3,224 shares in the company, valued at approximately $543,985.52. The disclosure for this sale can be found here. Insiders own 4.30% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Aperio Group LLC boosted its stake in FleetCor Technologies by 56.9% in the first quarter. Aperio Group LLC now owns 14,360 shares of the company’s stock valued at $2,136,000 after buying an additional 5,206 shares during the period. Nisa Investment Advisors L.L.C. acquired a new position in shares of FleetCor Technologies during the first quarter worth approximately $431,000. BlackRock Inc. boosted its position in shares of FleetCor Technologies by 154.9% in the first quarter. BlackRock Inc. now owns 152,664 shares of the company’s stock worth $22,708,000 after buying an additional 92,762 shares during the last quarter. BlackRock Group LTD boosted its position in shares of FleetCor Technologies by 14.1% in the first quarter. BlackRock Group LTD now owns 513,887 shares of the company’s stock worth $76,440,000 after buying an additional 63,466 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of FleetCor Technologies by 4.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,026,748 shares of the company’s stock worth $301,479,000 after buying an additional 93,087 shares during the last quarter. Hedge funds and other institutional investors own 92.15% of the company’s stock.

FleetCor Technologies Company Profile

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.

5 Day Chart for NYSE:FLT

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