FleetCor Technologies, Inc. (FLT) Given Average Rating of “Buy” by Analysts

Shares of FleetCor Technologies, Inc. (NYSE:FLT) have earned an average rating of “Buy” from the fourteen brokerages that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $222.09.

Several equities research analysts recently commented on the stock. ValuEngine raised shares of FleetCor Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Zacks Investment Research lowered shares of FleetCor Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Finally, Morgan Stanley set a $238.00 price target on shares of FleetCor Technologies and gave the stock a “buy” rating in a report on Friday, May 4th.

Shares of FleetCor Technologies traded up $1.39, hitting $221.83, during trading on Tuesday, MarketBeat.com reports. 174,520 shares of the stock traded hands, compared to its average volume of 703,239. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market cap of $18.56 billion, a price-to-earnings ratio of 28.13, a price-to-earnings-growth ratio of 1.28 and a beta of 1.42. FleetCor Technologies has a 52-week low of $138.43 and a 52-week high of $221.35.

FleetCor Technologies (NYSE:FLT) last posted its earnings results on Thursday, May 3rd. The business services provider reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.13. The firm had revenue of $585.50 million during the quarter, compared to analyst estimates of $602.46 million. FleetCor Technologies had a net margin of 34.19% and a return on equity of 21.87%. The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.96 EPS. sell-side analysts anticipate that FleetCor Technologies will post 9.78 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. Hennessy Advisors Inc. grew its holdings in shares of FleetCor Technologies by 7.3% during the first quarter. Hennessy Advisors Inc. now owns 4,720 shares of the business services provider’s stock worth $956,000 after buying an additional 320 shares in the last quarter. IBM Retirement Fund boosted its position in shares of FleetCor Technologies by 16.9% during the 1st quarter. IBM Retirement Fund now owns 2,625 shares of the business services provider’s stock valued at $532,000 after acquiring an additional 380 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of FleetCor Technologies by 0.6% during the 4th quarter. Alliancebernstein L.P. now owns 61,216 shares of the business services provider’s stock valued at $11,780,000 after acquiring an additional 381 shares during the last quarter. Cubist Systematic Strategies LLC boosted its position in shares of FleetCor Technologies by 33.0% during the 1st quarter. Cubist Systematic Strategies LLC now owns 1,575 shares of the business services provider’s stock valued at $319,000 after acquiring an additional 391 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of FleetCor Technologies by 11.6% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 4,846 shares of the business services provider’s stock valued at $933,000 after acquiring an additional 503 shares during the last quarter. 91.25% of the stock is owned by institutional investors and hedge funds.

About FleetCor Technologies

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.

Analyst Recommendations for FleetCor Technologies (NYSE:FLT)

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