FleetCor Technologies Inc. (FLT) Now Covered by William Blair
Equities researchers at William Blair started coverage on shares of FleetCor Technologies Inc. (NYSE:FLT) in a research note issued on Thursday. The brokerage set an “outperform” rating on the stock.
Other equities analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of FleetCor Technologies from a “hold” rating to a “buy” rating and set a $169.00 target price for the company in a report on Monday, July 25th. SunTrust Banks Inc. initiated coverage on shares of FleetCor Technologies in a report on Friday, June 24th. They issued a “buy” rating and a $175.00 target price for the company. Morgan Stanley set a $170.00 target price on shares of FleetCor Technologies and gave the stock a “buy” rating in a report on Friday, August 5th. Deutsche Bank AG upped their price objective on shares of FleetCor Technologies from $161.00 to $163.00 and gave the company a “buy” rating in a report on Friday, August 5th. Finally, Jefferies Group upped their price objective on shares of FleetCor Technologies from $175.00 to $186.00 and gave the company a “buy” rating in a report on Monday, August 8th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. FleetCor Technologies has an average rating of “Buy” and a consensus target price of $171.00.
FleetCor Technologies (NYSE:FLT) opened at 171.40 on Thursday. FleetCor Technologies has a 12-month low of $107.56 and a 12-month high of $174.96. The company has a 50 day moving average of $168.92 and a 200-day moving average of $155.63. The stock has a market cap of $15.86 billion, a P/E ratio of 41.09 and a beta of 1.24.
FleetCor Technologies (NYSE:FLT) last announced 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 business earned $417.90 million during the quarter, compared to the consensus estimate 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 was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.48 earnings per share. Equities analysts forecast that FleetCor Technologies will post $6.86 earnings per share for the current year.
In other news, insider Todd House sold 8,000 shares of the stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $163.00, for a total transaction of $1,304,000.00. Following the transaction, the insider now owns 19,637 shares in the company, valued at approximately $3,200,831. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ronald Clarke sold 243,617 shares of the stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $167.37, for a total value of $40,774,177.29. Following the transaction, the chief executive officer now owns 349,283 shares in the company, valued at approximately $58,459,495.71. The disclosure for this sale can be found here. 4.30% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in FLT. Checchi Capital Advisers LLC raised 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 during the period. Pacer Advisors Inc. raised its position in shares of 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 period. Invictus RG acquired a new position in shares of FleetCor Technologies during the second quarter worth about $125,000. Parametric Risk Advisors LLC acquired a new position in shares of FleetCor Technologies during the first quarter worth about $142,000. Finally, Advisory Services Network LLC raised its position in shares of 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 period. 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.
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