FleetCor Technologies (NYSE:FLT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

According to Zacks, “FleetCor is a leading independent global provider of fuel cards, commercial payment and data solutions, lodging and transportation management services, stored value solutions, and workforce payment products and services to businesses, retailers, commercial fleets, major oil companies, petroleum marketers and government entities in countries throughout North America, Latin America, Europe, Australia and New Zealand. They also provide a suite of fleet related and workforce payment solution products, including mobile telematics services, fleet maintenance management and employee benefit and transportation related payments. “

FLT has been the topic of several other reports. Morgan Stanley boosted their target price on FleetCor Technologies from $184.00 to $189.00 and gave the stock an “overweight” rating in a report on Wednesday, October 18th. SunTrust Banks set a $180.00 target price on FleetCor Technologies and gave the stock a “buy” rating in a report on Tuesday, October 24th. Citigroup boosted their target price on FleetCor Technologies from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, November 2nd. Oppenheimer reissued an “outperform” rating and issued a $185.00 target price on shares of FleetCor Technologies in a report on Tuesday, September 26th. Finally, Jefferies Group reissued a “buy” rating and issued a $197.00 target price on shares of FleetCor Technologies in a report on Saturday, September 16th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. FleetCor Technologies currently has a consensus rating of “Buy” and a consensus price target of $194.31.

FleetCor Technologies (NYSE:FLT) traded up $4.00 during trading on Tuesday, reaching $200.91. The company’s stock had a trading volume of 563,300 shares, compared to its average volume of 695,557. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.86. FleetCor Technologies has a twelve month low of $121.52 and a twelve month high of $201.40. The company has a market capitalization of $17,990.00, a P/E ratio of 34.17, a price-to-earnings-growth ratio of 1.23 and a beta of 1.53.

FleetCor Technologies (NYSE:FLT) last released its earnings results on Wednesday, November 1st. The business services provider reported $2.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.14 by $0.04. FleetCor Technologies had a return on equity of 20.99% and a net margin of 25.66%. The business had revenue of $577.90 million for the quarter, compared to the consensus estimate of $576.78 million. During the same period in the previous year, the company posted $1.92 earnings per share. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year. equities analysts expect that FleetCor Technologies will post 7.76 EPS for the current fiscal year.

In other news, insider Kurt Patrick Adams sold 7,099 shares of the business’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $170.00, for a total value of $1,206,830.00. Following the completion of the transaction, the insider now owns 9,246 shares in the company, valued at $1,571,820. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.60% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of FLT. Commonwealth Bank of Australia increased its position in FleetCor Technologies by 13.0% during the second quarter. Commonwealth Bank of Australia now owns 740 shares of the business services provider’s stock valued at $105,000 after acquiring an additional 85 shares during the last quarter. Fiduciary Trust Co. purchased a new stake in FleetCor Technologies during the second quarter valued at $115,000. FNY Partners Fund LP purchased a new stake in FleetCor Technologies during the third quarter valued at $125,000. Toronto Dominion Bank increased its position in FleetCor Technologies by 11.1% during the second quarter. Toronto Dominion Bank now owns 1,128 shares of the business services provider’s stock valued at $163,000 after acquiring an additional 113 shares during the last quarter. Finally, IBM Retirement Fund purchased a new stake in FleetCor Technologies during the third quarter valued at $211,000. Hedge funds and other institutional investors own 95.20% of the company’s stock.

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About FleetCor Technologies

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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