FleetCor Technologies Inc. (FLT) Given Consensus Recommendation of “Buy” by Brokerages
Shares of FleetCor Technologies Inc. (NYSE:FLT) have been given a consensus recommendation of “Buy” by the sixteen research firms that are currently covering the company. Three analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $174.67.
FLT has been the topic of several research analyst reports. Zacks Investment Research raised shares of FleetCor Technologies from a “hold” rating to a “strong-buy” rating and set a $197.00 price target on the stock in a report on Tuesday, October 4th. Barclays PLC increased their price target on shares of FleetCor Technologies from $170.00 to $190.00 and gave the company an “overweight” rating in a report on Wednesday, September 21st. William Blair initiated coverage on shares of FleetCor Technologies in a report on Thursday, October 13th. They issued an “outperform” rating on the stock. Monness Crespi & Hardt increased their price target on shares of FleetCor Technologies from $173.00 to $186.00 and gave the company a “buy” rating in a report on Monday, September 19th. Finally, Jefferies Group reissued a “buy” rating and issued a $186.00 price target on shares of FleetCor Technologies in a report on Thursday, September 29th.
In other FleetCor Technologies 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 value 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 Securities & Exchange Commission, which is accessible through this link. Also, insider Todd House sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,304,000.00. Following the completion of the sale, the insider now owns 19,637 shares in the company, valued at approximately $3,200,831. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Southpoint Capital Advisors LP bought a new stake in shares of FleetCor Technologies during the first quarter worth $70,656,000. Hillman Co. raised its stake in shares of FleetCor Technologies by 34.9% in the second quarter. Hillman Co. now owns 239,144 shares of the company’s stock worth $34,229,000 after buying an additional 61,850 shares in the last quarter. Columbus Circle Investors raised its stake in shares of FleetCor Technologies by 3.6% in the second quarter. Columbus Circle Investors now owns 999,168 shares of the company’s stock worth $143,011,000 after buying an additional 34,675 shares in the last quarter. Pennant Capital Management LLC raised its stake in shares of FleetCor Technologies by 21.4% in the first quarter. Pennant Capital Management LLC now owns 852,500 shares of the company’s stock worth $126,809,000 after buying an additional 150,100 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of FleetCor Technologies by 4.1% in the first quarter. Legal & General Group Plc now owns 289,256 shares of the company’s stock worth $43,027,000 after buying an additional 11,323 shares in the last quarter. Hedge funds and other institutional investors own 93.86% of the company’s stock.
FleetCor Technologies (NYSE:FLT) opened at 150.20 on Wednesday. The stock has a 50 day moving average price of $167.38 and a 200 day moving average price of $157.60. The firm has a market capitalization of $13.94 billion, a P/E ratio of 34.80 and a beta of 1.40. FleetCor Technologies has a one year low of $107.56 and a one year high of $176.42.
FleetCor Technologies (NYSE:FLT) last issued its earnings results on Tuesday, November 1st. The company reported $1.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.86 by $0.06. The company had revenue of $484.40 million for the quarter, compared to analysts’ expectations 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 prior year, the firm earned $1.67 EPS. On average, equities analysts predict that FleetCor Technologies will post $6.88 EPS for the current fiscal year.
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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