FleetCor Technologies Inc. (FLT) Receives Consensus Rating of “Buy” from Analysts
FleetCor Technologies Inc. (NYSE:FLT) has earned a consensus recommendation of “Buy” from the sixteen analysts that are presently covering the firm. Three equities research analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $171.00.
Several research analysts recently issued reports on the stock. Zacks Investment Research raised shares of FleetCor Technologies from a “hold” rating to a “strong-buy” rating and set a $197.00 price target for the company in a report on Tuesday, October 4th. Jefferies Group reissued a “buy” rating and set a $186.00 price target on shares of FleetCor Technologies in a report on Thursday, September 29th. Barclays PLC increased their price target on shares of FleetCor Technologies from $170.00 to $190.00 and gave the stock an “overweight” rating in a report on Wednesday, September 21st. Monness Crespi & Hardt increased their price target on shares of FleetCor Technologies from $173.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, September 19th. Finally, Deutsche Bank AG restated a “buy” rating and set a $163.00 target price (down from $180.00) on shares of FleetCor Technologies in a research report on Thursday, September 1st.
FleetCor Technologies (NYSE:FLT) traded up 0.72% on Wednesday, reaching $172.30. 110,040 shares of the company’s stock were exchanged. The company has a market cap of $15.95 billion, a P/E ratio of 41.31 and a beta of 1.24. The firm has a 50 day moving average of $168.58 and a 200-day moving average of $155.23. FleetCor Technologies has a 12-month low of $107.56 and a 12-month high of $174.96.
FleetCor Technologies (NYSE:FLT) last posted its quarterly earnings results on Thursday, August 4th. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.02. The firm earned $417.90 million during the quarter, compared to analysts’ expectations of $415.20 million. FleetCor Technologies had a net margin of 22.97% and a return on equity of 18.16%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.48 earnings per share. Equities analysts expect that FleetCor Technologies will post $6.86 EPS for the current fiscal year.
In related news, CEO Ronald Clarke sold 243,617 shares of the firm’s stock in a transaction that occurred 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 $58,459,495.71. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Todd House sold 4,347 shares of the firm’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $151.99, for a total transaction of $660,700.53. Following the sale, the insider now owns 15,984 shares in the company, valued at approximately $2,429,408.16. The disclosure for this sale can be found here. Corporate insiders own 4.30% of the company’s stock.
A number of hedge funds have recently made changes to their positions in FLT. Checchi Capital Advisers LLC raised its stake 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 during the period. Telemus Capital LLC increased its position in FleetCor Technologies by 0.5% in the second quarter. Telemus Capital LLC now owns 6,065 shares of the company’s stock worth $868,000 after buying an additional 28 shares in the last quarter. Strs Ohio increased its position in FleetCor Technologies by 0.5% in the second quarter. Strs Ohio now owns 6,786 shares of the company’s stock worth $971,000 after buying an additional 37 shares in the last quarter. IBM Retirement Fund increased its position in FleetCor Technologies by 0.4% in the second quarter. IBM Retirement Fund now owns 10,855 shares of the company’s stock worth $1,622,000 after buying an additional 39 shares in the last quarter. Finally, Capstone Asset Management Co. increased its position in FleetCor Technologies by 1.9% in the second quarter. Capstone Asset Management Co. now owns 2,172 shares of the company’s stock worth $311,000 after buying an additional 40 shares in the last quarter. Hedge funds and other institutional investors 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.
Receive News & Stock Ratings for FleetCor Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FleetCor Technologies Inc. and related stocks with our FREE daily email newsletter.