Jefferies Group reissued their buy rating on shares of FleetCor Technologies Inc. (NYSE:FLT) in a research report sent to investors on Thursday. They currently have a $186.00 target price on the stock.
“We hosted FLT’s CEO and CFO in Boston yesterday and came away with the following key takeaways: 1) FLT’s methodical approach to unlocking STP synergies should make the deal more accretive than anticipated, 2) the company’s corporate payments/virtual card business is set to return to sustainable high-teens growth, 3) we don’t believe Street estimates have sufficiently factored in a potential improvement in 2017 macro/fuel/FX environment.”,” the firm’s analyst commented.
A number of other research firms have also commented on FLT. Barclays PLC upped their price objective on shares of FleetCor Technologies from $170.00 to $190.00 and gave the company an overweight rating in a research note on Wednesday, September 21st. Oppenheimer Holdings Inc. raised shares of FleetCor Technologies from a market perform rating to an outperform rating and set a $180.00 price objective for the company in a research note on Friday, August 5th. JPMorgan Chase & Co. reaffirmed a hold rating on shares of FleetCor Technologies in a research note on Monday, June 6th. Credit Suisse Group AG reaffirmed a hold rating and set a $150.00 price objective on shares of FleetCor Technologies in a research note on Friday, August 5th. Finally, Morgan Stanley set a $170.00 price objective on shares of FleetCor Technologies and gave the company a buy rating in a research note on Friday, August 5th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Buy and an average price target of $171.00.
Shares of FleetCor Technologies (NYSE:FLT) opened at 171.27 on Thursday. FleetCor Technologies has a 12-month low of $107.56 and a 12-month high of $174.84. The company has a 50-day moving average of $167.84 and a 200-day moving average of $154.33. The stock has a market capitalization of $15.85 billion, a P/E ratio of 41.06 and a beta of 1.24.
FleetCor Technologies (NYSE:FLT) last issued its quarterly earnings results on Thursday, August 4th. The company reported $1.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.54 by $0.02. FleetCor Technologies had a net margin of 22.97% and a return on equity of 18.16%. The company earned $417.90 million during the quarter, compared to the consensus estimate of $415.20 million. During the same period in the prior year, the company earned $1.48 EPS. FleetCor Technologies’s revenue was up 3.3% on a year-over-year basis. Equities analysts expect that FleetCor Technologies will post $6.86 earnings per share for the current fiscal year.
In other FleetCor Technologies news, Director Joseph W. Farrelly sold 1,200 shares of the stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $168.73, for a total transaction of $202,476.00. Following the transaction, the director now owns 3,224 shares in the company, valued at $543,985.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Todd House sold 4,327 shares of the stock in a transaction that occurred on Tuesday, July 12th. The shares were sold at an average price of $150.00, for a total value of $649,050.00. Following the transaction, the insider now owns 11,637 shares in the company, valued at approximately $1,745,550. The disclosure for this sale can be found here. 4.30% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Checchi Capital Advisers LLC increased its position in shares of FleetCor Technologies by 2.0% in the second quarter. Checchi Capital Advisers LLC now owns 776 shares of the company’s stock valued at $111,000 after buying an additional 15 shares during the period. Pacer Advisors Inc. increased its position in shares of FleetCor Technologies by 10.4% in the second quarter. Pacer Advisors Inc. now owns 814 shares of the company’s stock valued at $117,000 after buying an additional 77 shares during the period. Invictus RG bought a new position in shares of FleetCor Technologies during the second quarter valued at approximately $125,000. Parametric Risk Advisors LLC bought a new position in shares of FleetCor Technologies during the first quarter valued at approximately $142,000. Finally, Advisory Services Network LLC increased its position in shares of FleetCor Technologies by 144.1% in the second quarter. Advisory Services Network LLC now owns 1,084 shares of the company’s stock valued at $155,000 after buying an additional 640 shares during the period. Institutional investors own 92.15% of the company’s stock.
FleetCor Technologies Company Profile
FleetCor Technologies, Inc is an independent global provider of fuel cards, commercial payment and data solutions, stored value solutions, and workforce payment products and services to businesses, retailers, commercial fleets, oil companies, petroleum marketers and government entities in countries throughout North America, Latin America, Europe, Australia and New Zealand.
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