FleetCor Technologies (FLT) Sets New 52-Week High at $188.30

FleetCor Technologies, Inc. (NYSE:FLT) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $188.30 and last traded at $184.48, with a volume of 709100 shares. The stock had previously closed at $183.87.

FLT has been the topic of a number of analyst reports. Morgan Stanley increased their price objective on shares of FleetCor Technologies from $184.00 to $189.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 18th. Zacks Investment Research downgraded shares of FleetCor Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. SunTrust Banks set a $180.00 price target on shares of FleetCor Technologies and gave the company a “buy” rating in a research note on Tuesday, October 24th. Credit Suisse Group restated an “outperform” rating on shares of FleetCor Technologies in a research note on Tuesday, September 5th. Finally, Jefferies Group restated a “buy” rating and issued a $197.00 price target on shares of FleetCor Technologies in a research note on Saturday, September 16th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $187.31.

The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market capitalization of $16,467.54, a P/E ratio of 24.88, a price-to-earnings-growth ratio of 1.34 and a beta of 1.53.

FleetCor Technologies (NYSE:FLT) last posted its quarterly earnings results on Wednesday, November 1st. The business services provider reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.04. FleetCor Technologies had a net margin of 25.66% and a return on equity of 20.99%. The company had revenue of $577.90 million for the quarter, compared to the consensus estimate of $576.78 million. During the same period last year, the company posted $1.92 EPS. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year. research analysts forecast that FleetCor Technologies, Inc. will post 7.75 earnings per share for the current fiscal year.

In related news, insider Kurt Patrick Adams sold 7,099 shares of FleetCor Technologies stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $170.00, for a total transaction of $1,206,830.00. Following the sale, the insider now directly owns 9,246 shares in the company, valued at approximately $1,571,820. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 4.30% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the stock. Commonwealth Bank of Australia boosted its position in FleetCor Technologies by 13.0% during the 2nd quarter. Commonwealth Bank of Australia now owns 740 shares of the business services provider’s stock worth $105,000 after buying an additional 85 shares during the period. First Personal Financial Services boosted its position in FleetCor Technologies by 49.9% during the 2nd quarter. First Personal Financial Services now owns 790 shares of the business services provider’s stock worth $114,000 after buying an additional 263 shares during the period. Fiduciary Trust Co. acquired a new stake in FleetCor Technologies during the 2nd quarter worth approximately $115,000. FNY Partners Fund LP acquired a new stake in FleetCor Technologies during the 3rd quarter worth approximately $125,000. Finally, Toronto Dominion Bank boosted its position in FleetCor Technologies by 11.1% during the 2nd quarter. Toronto Dominion Bank now owns 1,128 shares of the business services provider’s stock worth $163,000 after buying an additional 113 shares during the period. Institutional investors and hedge funds own 95.76% of the company’s stock.

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FleetCor Technologies Company Profile

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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