FLEETCOR Technologies (NYSE:FLT) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of FLEETCOR Technologies (NYSE:FLTFree Report) from a hold rating to a buy rating in a research note published on Friday.

FLT has been the subject of a number of other research reports. Royal Bank of Canada boosted their price objective on FLEETCOR Technologies from $270.00 to $302.00 and gave the company a sector perform rating in a report on Thursday, February 8th. William Blair restated an outperform rating on shares of FLEETCOR Technologies in a research report on Thursday, February 8th. Raymond James boosted their price objective on FLEETCOR Technologies from $277.00 to $281.00 and gave the company an outperform rating in a report on Friday, November 10th. BMO Capital Markets initiated coverage on FLEETCOR Technologies in a research note on Tuesday, December 5th. They set an outperform rating and a $300.00 target price for the company. Finally, Mizuho upped their target price on FLEETCOR Technologies from $235.00 to $265.00 and gave the company a neutral rating in a research report on Thursday, January 18th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, FLEETCOR Technologies has an average rating of Moderate Buy and an average price target of $296.33.

View Our Latest Stock Analysis on FLT

FLEETCOR Technologies Price Performance

NYSE FLT opened at $270.95 on Friday. FLEETCOR Technologies has a one year low of $185.04 and a one year high of $298.48. The stock has a 50-day moving average of $279.27 and a 200 day moving average of $261.60. The company has a market capitalization of $19.56 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 1.19 and a beta of 1.26. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.02 and a current ratio of 1.04.

FLEETCOR Technologies (NYSE:FLTGet Free Report) last announced its earnings results on Wednesday, February 7th. The business services provider reported $4.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.48 by ($0.04). The firm had revenue of $937.32 million during the quarter, compared to analysts’ expectations of $967.01 million. FLEETCOR Technologies had a return on equity of 37.56% and a net margin of 26.13%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the business posted $3.83 earnings per share. On average, sell-side analysts forecast that FLEETCOR Technologies will post 18.11 EPS for the current year.

Institutional Investors Weigh In On FLEETCOR Technologies

Hedge funds have recently made changes to their positions in the business. Cullen Frost Bankers Inc. boosted its holdings in FLEETCOR Technologies by 2.3% in the fourth quarter. Cullen Frost Bankers Inc. now owns 1,798 shares of the business services provider’s stock worth $508,000 after purchasing an additional 40 shares in the last quarter. Deseret Mutual Benefit Administrators lifted its position in FLEETCOR Technologies by 19.0% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 257 shares of the business services provider’s stock worth $65,000 after acquiring an additional 41 shares during the last quarter. Toroso Investments LLC lifted its position in FLEETCOR Technologies by 1.6% during the 3rd quarter. Toroso Investments LLC now owns 2,774 shares of the business services provider’s stock worth $708,000 after acquiring an additional 43 shares during the last quarter. CWM LLC lifted its position in FLEETCOR Technologies by 3.7% during the 2nd quarter. CWM LLC now owns 1,295 shares of the business services provider’s stock worth $325,000 after acquiring an additional 46 shares during the last quarter. Finally, Ossiam raised its position in shares of FLEETCOR Technologies by 7.9% during the first quarter. Ossiam now owns 682 shares of the business services provider’s stock valued at $144,000 after buying an additional 50 shares during the last quarter. Institutional investors and hedge funds own 94.93% of the company’s stock.

FLEETCOR Technologies Company Profile

(Get Free Report)

FLEETCOR Technologies, Inc, a business payments company that helps businesses spend less by enabling them to manage their expense-related purchasing and vendor payments processes. It offers corporate payments solutions, such as accounts payable automation; Virtual Card, which provides a single-use card number for a specific amount usable within a defined timeframe; Cross-Border that is used by its customers to pay international vendors, foreign office and personnel expenses, capital expenditures, and profit repatriation and dividends; and purchasing cards and travel and entertainment cards for its customers to analyze and manage their corporate spending.

Further Reading

Analyst Recommendations for FLEETCOR Technologies (NYSE:FLT)

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