FleetCor Technologies (NYSE:FLT) has been given a $340.00 target price by equities research analysts at Barclays in a research report issued on Monday, TipRanks reports. The firm currently has a “buy” rating on the business services provider’s stock. Barclays‘s price objective would indicate a potential upside of 18.49% from the stock’s previous close.

A number of other research analysts have also recently commented on FLT. Oppenheimer upped their price target on shares of FleetCor Technologies from $265.00 to $270.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. GMP Securities restated an “average” rating and issued a $4.00 price target on shares of FleetCor Technologies in a report on Wednesday, June 5th. Mizuho upped their price target on shares of FleetCor Technologies from $245.00 to $247.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. Goldman Sachs Group upgraded shares of FleetCor Technologies from a “neutral” rating to a “buy” rating and upped their price target for the stock from $243.00 to $305.00 in a report on Wednesday, June 5th. Finally, SunTrust Banks upped their price target on shares of FleetCor Technologies to $320.00 and gave the stock a “buy” rating in a report on Thursday, June 13th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $269.27.

FLT stock traded down $8.93 during mid-day trading on Monday, reaching $286.94. 357,193 shares of the stock traded hands, compared to its average volume of 593,308. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.92 and a quick ratio of 0.91. FleetCor Technologies has a one year low of $172.18 and a one year high of $297.13. The firm has a market cap of $25.49 billion, a PE ratio of 28.90, a PEG ratio of 1.71 and a beta of 1.16. The company has a 50-day simple moving average of $287.32.

FleetCor Technologies (NYSE:FLT) last posted its quarterly earnings results on Tuesday, August 6th. The business services provider reported $2.69 EPS for the quarter, topping the Zacks’ consensus estimate of $2.64 by $0.05. The firm had revenue of $647.09 million for the quarter, compared to analysts’ expectations of $633.95 million. FleetCor Technologies had a net margin of 35.29% and a return on equity of 26.37%. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.57 earnings per share. As a group, equities analysts anticipate that FleetCor Technologies will post 11.15 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in FLT. Highstreet Asset Management Inc. purchased a new position in FleetCor Technologies in the 2nd quarter valued at $786,000. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in FleetCor Technologies by 38.8% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,073 shares of the business services provider’s stock valued at $301,000 after buying an additional 300 shares during the last quarter. Marshall Wace North America L.P. purchased a new stake in FleetCor Technologies in the first quarter valued at approximately $1,012,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of FleetCor Technologies by 3.7% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,019 shares of the business services provider’s stock valued at $1,238,000 after purchasing an additional 181 shares during the period. Finally, Bayesian Capital Management LP increased its holdings in shares of FleetCor Technologies by 488.7% in the first quarter. Bayesian Capital Management LP now owns 9,873 shares of the business services provider’s stock valued at $2,435,000 after purchasing an additional 8,196 shares during the period. 94.71% of the stock is owned by hedge funds and other institutional investors.

FleetCor Technologies Company Profile

FleetCor Technologies, Inc provides commercial payment solutions in North America, Latin America, Europe, and Australasia. The company offers fuel payment solutions to businesses and government entities that operate vehicle fleets, as well as to oil and leasing companies, and fuel marketers. Its fuel payment products are in the form of plastic cards, electronic RFID tags, and paper vouchers to purchase fuel, oil, vehicle maintenance supplies and services, and building supplies.

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Analyst Recommendations for FleetCor Technologies (NYSE:FLT)

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