FleetCor Technologies, Inc. (NYSE:FLT) Receives Outperform Rating from William Blair
William Blair restated their outperform rating on shares of FleetCor Technologies, Inc. (NYSE:FLT) in a research note published on Wednesday, July 12th. William Blair also issued estimates for FleetCor Technologies’ Q2 2018 earnings at $2.11 EPS and FY2019 earnings at $9.86 EPS.
Several other research firms have also recently commented on FLT. Wells Fargo & Company set a $175.00 price target on FleetCor Technologies and gave the company a buy rating in a report on Wednesday, April 5th. Jefferies Group LLC reissued a buy rating and issued a $197.00 target price on shares of FleetCor Technologies in a report on Wednesday, May 24th. SunTrust Banks, Inc. reissued a buy rating on shares of FleetCor Technologies in a report on Wednesday, May 3rd. Compass Point raised FleetCor Technologies from a neutral rating to a buy rating and set a $170.00 target price for the company in a report on Wednesday, May 3rd. Finally, Deutsche Bank AG reissued a buy rating and issued a $185.00 target price on shares of FleetCor Technologies in a report on Monday, April 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $181.29.
Shares of FleetCor Technologies (FLT) opened at 142.46 on Wednesday. The company has a market capitalization of $13.14 billion, a P/E ratio of 29.14 and a beta of 1.45. The stock has a 50 day moving average price of $146.81 and a 200-day moving average price of $149.68. FleetCor Technologies has a one year low of $121.52 and a one year high of $176.42.
FleetCor Technologies (NYSE:FLT) last posted its quarterly earnings results on Thursday, August 3rd. The business services provider reported $1.83 EPS for the quarter, meeting the consensus estimate of $1.83. The firm had revenue of $541.24 million during the quarter, compared to analysts’ expectations of $528.33 million. FleetCor Technologies had a return on equity of 21.20% and a net margin of 23.28%. The company’s revenue for the quarter was up 29.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.56 EPS. Equities research analysts predict that FleetCor Technologies will post $8.34 earnings per share for the current fiscal year.
FleetCor Technologies declared that its Board of Directors has approved a share buyback plan on Thursday, August 3rd that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the business services provider to purchase up to 1.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
In other news, insider Alexey Gavrilenya acquired 5,000 shares of the firm’s stock in a transaction on Thursday, May 11th. The shares were purchased at an average cost of $138.50 per share, for a total transaction of $692,500.00. Following the transaction, the insider now owns 5,000 shares of the company’s stock, valued at $692,500. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 4.60% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Numeric Investors LLC purchased a new position in shares of FleetCor Technologies during the fourth quarter worth approximately $382,000. Quadrature Capital Ltd raised its position in FleetCor Technologies by 239.8% in the fourth quarter. Quadrature Capital Ltd now owns 21,762 shares of the business services provider’s stock valued at $3,078,000 after buying an additional 15,357 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in FleetCor Technologies by 64.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,082,800 shares of the business services provider’s stock valued at $153,238,000 after buying an additional 425,297 shares in the last quarter. Teachers Advisors LLC raised its position in FleetCor Technologies by 1.3% in the fourth quarter. Teachers Advisors LLC now owns 219,184 shares of the business services provider’s stock valued at $31,019,000 after buying an additional 2,764 shares in the last quarter. Finally, Highbridge Capital Management LLC bought a new position in FleetCor Technologies during the fourth quarter valued at about $887,000. Hedge funds and other institutional investors own 93.82% of the company’s stock.
FleetCor Technologies Company Profile
FleetCor Technologies, Inc is a provider of workforce payment products. The Company offers fuel card payments product solutions, corporate payments products, toll products, lodging cards and gift cards. The Company operates through two segments: North America and International. Its products are sold to businesses, retailers, oil companies and marketers and government entities.
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