Shares of FleetCor Technologies, Inc. (NYSE:FLT) have received an average recommendation of “Buy” from the sixteen ratings firms that are presently covering the stock. Two equities research analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $176.15.
A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. restated an “overweight” rating and set a $138.00 target price on shares of FleetCor Technologies in a research report on Thursday, May 4th. Citigroup Inc set a $165.00 price target on FleetCor Technologies and gave the stock a “buy” rating in a report on Thursday, May 4th. Zacks Investment Research raised FleetCor Technologies from a “sell” rating to a “hold” rating in a report on Monday, February 13th. Wells Fargo & Co set a $175.00 price target on FleetCor Technologies and gave the stock a “buy” rating in a report on Wednesday, April 5th. Finally, Compass Point raised FleetCor Technologies from a “neutral” rating to a “buy” rating and set a $170.00 price target for the company in a report on Wednesday, May 3rd.
In related news, CEO David D. Maxsimic sold 3,125 shares of FleetCor Technologies stock in a transaction dated Thursday, February 23rd. The stock was sold at an average price of $165.96, for a total transaction of $518,625.00. Following the completion of the sale, the chief executive officer now owns 2,000 shares in the company, valued at approximately $331,920. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ronald Clarke sold 100,000 shares of FleetCor Technologies stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $160.91, for a total value of $16,091,000.00. Following the sale, the chief executive officer now owns 317,782 shares of the company’s stock, valued at approximately $51,134,301.62. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 8,850 shares of company stock valued at $1,208,985 and have sold 130,825 shares valued at $21,113,534. Company insiders own 4.30% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. State of Alaska Department of Revenue bought a new stake in FleetCor Technologies during the first quarter worth approximately $104,000. Ropes Wealth Advisors LLC boosted its stake in FleetCor Technologies by 112.9% in the first quarter. Ropes Wealth Advisors LLC now owns 745 shares of the business services provider’s stock valued at $113,000 after buying an additional 395 shares during the period. Toronto Dominion Bank boosted its stake in FleetCor Technologies by 26.6% in the first quarter. Toronto Dominion Bank now owns 1,015 shares of the business services provider’s stock valued at $154,000 after buying an additional 213 shares during the period. Tower Research Capital LLC TRC boosted its stake in 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 valued at $160,000 after buying an additional 12 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in FleetCor Technologies by 31.3% in the third quarter. Pacer Advisors Inc. now owns 1,069 shares of the business services provider’s stock valued at $186,000 after buying an additional 255 shares during the period. Hedge funds and other institutional investors own 93.73% of the company’s stock.
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Shares of FleetCor Technologies (NYSE:FLT) traded up 1.78% during mid-day trading on Monday, reaching $135.78. 731,033 shares of the company’s stock traded hands. The firm has a market cap of $12.53 billion, a price-to-earnings ratio of 27.77 and a beta of 1.24. The firm’s 50-day moving average is $142.04 and its 200 day moving average is $150.56. FleetCor Technologies has a one year low of $121.52 and a one year high of $176.42.
FleetCor Technologies (NYSE:FLT) last announced its earnings results on Monday, May 1st. The business services provider reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.09. The business had revenue of $520.43 million for the quarter, compared to analyst estimates of $514.56 million. FleetCor Technologies had a net margin of 24.53% and a return on equity of 19.67%. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period last year, the firm posted $1.53 earnings per share. Analysts predict that FleetCor Technologies will post $8.34 earnings per share for the current year.
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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