Shares of FleetCor Technologies, Inc. (NYSE:FLT) have received a consensus recommendation of “Buy” from the sixteen research firms that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $180.55.

FLT has been the topic of several research analyst reports. Jefferies Group LLC reissued a “buy” rating and set a $197.00 target price on shares of FleetCor Technologies in a research report on Saturday. Zacks Investment Research raised FleetCor Technologies from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a research report on Tuesday, August 8th. Keefe, Bruyette & Woods set a $202.00 target price on FleetCor Technologies and gave the stock a “buy” rating in a research report on Monday, August 7th. Citigroup Inc. reissued a “buy” rating and set a $180.00 target price (up previously from $165.00) on shares of FleetCor Technologies in a research report on Thursday, July 13th. Finally, BidaskClub raised FleetCor Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th.

FleetCor Technologies (NYSE FLT) traded down 1.47% during trading on Friday, hitting $151.00. 1,080,905 shares of the stock traded hands. FleetCor Technologies has a 12 month low of $121.52 and a 12 month high of $176.42. The company’s 50 day moving average price is $144.30 and its 200 day moving average price is $146.29. The company has a market cap of $13.87 billion, a P/E ratio of 29.85 and a beta of 1.43.

FleetCor Technologies (NYSE:FLT) last issued its earnings results on Thursday, August 3rd. The business services provider reported $1.83 earnings per share for the quarter, hitting the consensus estimate of $1.83. FleetCor Technologies had a return on equity of 20.87% and a net margin of 23.28%. The business had revenue of $541.24 million for the quarter, compared to analyst estimates of $528.33 million. During the same quarter last year, the company earned $1.56 EPS. The business’s quarterly revenue was up 29.5% on a year-over-year basis. On average, equities research analysts anticipate that FleetCor Technologies will post $8.37 EPS for the current fiscal year.

FleetCor Technologies announced that its board has approved a share buyback program on Thursday, August 3rd that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the business services provider to purchase up to 1.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

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In other FleetCor Technologies news, CEO Andrew Blazye sold 2,442 shares of the business’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $144.00, for a total transaction of $351,648.00. Following the sale, the chief executive officer now directly owns 24,766 shares in the company, valued at $3,566,304. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 15,758 shares of company stock worth $2,274,115. 4.60% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its holdings in shares of FleetCor Technologies by 1.1% in the first quarter. Tower Research Capital LLC TRC now owns 1,059 shares of the business services provider’s stock worth $160,000 after acquiring an additional 12 shares during the last quarter. Boston Private Wealth LLC raised its holdings in shares of FleetCor Technologies by 1.8% in the first quarter. Boston Private Wealth LLC now owns 1,517 shares of the business services provider’s stock worth $230,000 after acquiring an additional 27 shares during the last quarter. World Asset Management Inc raised its holdings in shares of FleetCor Technologies by 0.9% in the second quarter. World Asset Management Inc now owns 4,182 shares of the business services provider’s stock worth $603,000 after acquiring an additional 36 shares during the last quarter. Advisor Group Inc. raised its holdings in shares of FleetCor Technologies by 1.1% in the second quarter. Advisor Group Inc. now owns 3,890 shares of the business services provider’s stock worth $543,000 after acquiring an additional 41 shares during the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD raised its holdings in shares of FleetCor Technologies by 0.7% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 6,912 shares of the business services provider’s stock worth $996,000 after acquiring an additional 48 shares during the last quarter. 97.57% of the stock is owned by institutional investors.

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.

Analyst Recommendations for FleetCor Technologies (NYSE:FLT)

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