FleetCor Technologies Inc. (FLT) Receives Buy Rating from Jefferies Group
Jefferies Group reissued their buy rating on shares of FleetCor Technologies Inc. (NYSE:FLT) in a research note issued to investors on Wednesday. Jefferies Group currently has a $197.00 price target on the stock, up from their previous price target of $193.00.
Other equities research analysts have also recently issued research reports about the stock. Monness Crespi & Hardt raised their price objective on shares of 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 reaffirmed a buy rating and set a $163.00 price objective (down previously from $180.00) on shares of FleetCor Technologies in a research note on Thursday, September 1st. Morgan Stanley set a $170.00 target price on FleetCor Technologies and gave the company a buy rating in a research report on Friday, August 5th. SunTrust Banks Inc. set a $200.00 target price on FleetCor Technologies and gave the company a buy rating in a research report on Wednesday, November 2nd. 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 issued a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $175.21.
FleetCor Technologies (NYSE:FLT) traded up 0.16% during trading on Wednesday, hitting $153.25. 915,887 shares of the company traded hands. The company’s 50 day moving average is $162.26 and its 200-day moving average is $157.36. FleetCor Technologies has a 52 week low of $107.56 and a 52 week high of $176.42. The stock has a market capitalization of $14.22 billion, a PE ratio of 35.51 and a beta of 1.40.
FleetCor Technologies (NYSE:FLT) last issued its quarterly earnings data on Tuesday, November 1st. The company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.06. The business 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%. The business’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the company earned $1.67 EPS. Analysts predict that FleetCor Technologies will post $6.88 earnings per share for the current year.
In related news, CEO Ronald Clarke sold 243,617 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $167.37, for a total transaction of $40,774,177.29. Following the completion of the sale, the chief executive officer now owns 349,283 shares in the company, valued at $58,459,495.71. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Todd House sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, October 14th. The stock was sold at an average price of $172.26, for a total value of $1,378,080.00. Following the sale, the insider now owns 19,637 shares of the company’s stock, valued at approximately $3,382,669.62. The disclosure for this sale can be found here. Insiders own 4.30% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. Winslow Capital Management LLC boosted its stake in FleetCor Technologies by 39.0% in the second quarter. Winslow Capital Management LLC now owns 2,582,730 shares of the company’s stock valued at $369,666,000 after buying an additional 724,391 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in 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 valued at $476,290,000 after buying an additional 657,442 shares during the last quarter. Emerald Acquisition Ltd. acquired a new stake in FleetCor Technologies during the second quarter valued at $81,598,000. TimesSquare Capital Management LLC acquired a new stake in FleetCor Technologies during the second quarter valued at $75,659,000. Finally, Marshall Wace LLP boosted its stake in FleetCor Technologies by 2,325.2% in the second quarter. Marshall Wace LLP now owns 492,202 shares of the company’s stock valued at $70,449,000 after buying an additional 471,907 shares during the last quarter. Hedge funds and other institutional investors own 93.86% of the company’s stock.
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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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