FleetCor Technologies, Inc. (NYSE:FLT) has been assigned a consensus recommendation of “Buy” from the fifteen research firms that are presently covering the company. Three research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $179.83.
A number of equities analysts have weighed in on FLT shares. Citigroup Inc lifted their price target on shares of FleetCor Technologies from $185.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, February 9th. Jefferies Group LLC set a $197.00 price target on shares of FleetCor Technologies and gave the company a “buy” rating in a report on Thursday, March 16th. Zacks Investment Research upgraded shares of FleetCor Technologies from a “hold” rating to a “buy” rating and set a $166.00 price target on the stock in a report on Monday, January 30th. Wells Fargo & Co set a $175.00 price target on shares of FleetCor Technologies and gave the company a “buy” rating in a report on Wednesday, April 5th. Finally, William Blair reiterated an “outperform” rating on shares of FleetCor Technologies in a report on Friday, February 3rd.
Shares of FleetCor Technologies (NYSE:FLT) traded up 4.57% during trading on Friday, reaching $149.73. The company had a trading volume of 1,444,121 shares. The company has a market capitalization of $13.76 billion, a PE ratio of 31.52 and a beta of 1.24. The stock’s 50-day moving average price is $153.85 and its 200-day moving average price is $155.61. FleetCor Technologies has a 52 week low of $133.64 and a 52 week high of $176.42.
FleetCor Technologies (NYSE:FLT) last announced its quarterly earnings results on Wednesday, February 8th. The business services provider reported $1.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.87 by $0.03. The company had revenue of $515 million for the quarter, compared to analyst estimates of $502.73 million. FleetCor Technologies had a net margin of 24.53% and a return on equity of 19.67%. FleetCor Technologies’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter last year, the business earned $1.70 EPS. On average, equities analysts expect that FleetCor Technologies will post $8.24 EPS for the current fiscal year.
In related news, insider Todd House sold 13,250 shares of FleetCor Technologies stock in a transaction on Monday, March 13th. The shares were sold at an average price of $159.60, for a total transaction of $2,114,700.00. Following the sale, the insider now owns 4,367 shares of the company’s stock, valued at approximately $696,973.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David D. Maxsimic sold 1,270 shares of FleetCor Technologies stock in a transaction on Monday, January 23rd. The stock was sold at an average price of $150.11, for a total transaction of $190,639.70. The disclosure for this sale can be found here. Insiders have sold a total of 133,555 shares of company stock worth $21,547,527 in the last ninety days. 4.30% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in FLT. Ameriprise Financial Inc. increased its stake in FleetCor Technologies by 15.5% in the third quarter. Ameriprise Financial Inc. now owns 516,296 shares of the business services provider’s stock valued at $89,690,000 after buying an additional 69,180 shares during the last quarter. Wells Fargo & Company MN increased its stake in FleetCor Technologies by 247.1% in the third quarter. Wells Fargo & Company MN now owns 639,990 shares of the business services provider’s stock valued at $111,185,000 after buying an additional 455,583 shares during the last quarter. Comerica Bank increased its stake in FleetCor Technologies by 19.0% in the fourth quarter. Comerica Bank now owns 40,547 shares of the business services provider’s stock valued at $6,110,000 after buying an additional 6,461 shares during the last quarter. Cornercap Investment Counsel Inc. bought a new stake in FleetCor Technologies during the fourth quarter valued at $2,218,000. Finally, California Public Employees Retirement System increased its stake in FleetCor Technologies by 1.1% in the third quarter. California Public Employees Retirement System now owns 161,400 shares of the business services provider’s stock valued at $28,040,000 after buying an additional 1,800 shares during the last quarter. 93.73% of the stock is owned by institutional investors.
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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