FleetCor Technologies Inc. (FLT) Upgraded by Wells Fargo & Co. to “Outperform”
FleetCor Technologies Inc. (NYSE:FLT) was upgraded by equities research analysts at Wells Fargo & Co. from a “market perform” rating to an “outperform” rating in a research report issued on Friday.
Other analysts also recently issued reports about the company. Zacks Investment Research upgraded FleetCor Technologies from a “hold” rating to a “buy” rating and set a $169.00 target price for the company in a research report on Monday, July 25th. Oppenheimer Holdings Inc. upgraded FleetCor Technologies from a “market perform” rating to an “outperform” rating and set a $180.00 target price for the company in a research report on Friday, August 5th. Barclays PLC lifted their target price on FleetCor Technologies from $160.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, August 5th. Morgan Stanley set a $170.00 target price on FleetCor Technologies and gave the stock a “buy” rating in a research report on Friday, August 5th. Finally, Credit Suisse Group AG reiterated a “hold” rating and set a $150.00 target price on shares of FleetCor Technologies in a research report on Friday, August 5th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $175.43.
Shares of FleetCor Technologies (NYSE:FLT) opened at 150.70 on Friday. The company’s 50-day moving average is $164.52 and its 200 day moving average is $157.36. FleetCor Technologies has a 12 month low of $107.56 and a 12 month high of $176.42. The stock has a market capitalization of $13.98 billion, a P/E ratio of 34.92 and a beta of 1.40.
FleetCor Technologies (NYSE:FLT) last posted its quarterly earnings data on Tuesday, November 1st. The company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.86 by $0.06. The company earned $484.40 million during the quarter, compared to analyst estimates of $491.45 million. FleetCor Technologies had a net margin of 23.27% and a return on equity of 18.53%. FleetCor Technologies’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.67 earnings per share. Equities research analysts predict that FleetCor Technologies will post $6.88 earnings per share for the current year.
In other news, Director Joseph W. Farrelly sold 1,200 shares of the business’s stock in a transaction dated Wednesday, September 7th. The stock was 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 $543,985.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ronald Clarke sold 243,617 shares of the business’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $167.37, for a total value 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 disclosure for this sale can be found here. Insiders own 4.30% of the company’s stock.
Large investors have recently modified their holdings of the company. Winslow Capital Management LLC raised its stake in shares of FleetCor Technologies by 39.0% in the second quarter. Winslow Capital Management LLC now owns 2,582,730 shares of the company’s stock worth $369,666,000 after buying an additional 724,391 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of FleetCor Technologies by 31.5% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,741,551 shares of the company’s stock worth $476,290,000 after buying an additional 657,442 shares during the last quarter. Emerald Acquisition Ltd. acquired a new stake in shares of FleetCor Technologies during the second quarter worth $81,598,000. TimesSquare Capital Management LLC acquired a new stake in shares of FleetCor Technologies during the second quarter worth $75,659,000. Finally, Southpoint Capital Advisors LP acquired a new stake in shares of FleetCor Technologies during the first quarter worth $70,656,000. Institutional investors and hedge funds own 94.09% 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.
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