Keefe, Bruyette & Woods Reaffirms “Buy” Rating for FleetCor Technologies (FLT)

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Keefe, Bruyette & Woods reiterated their buy rating on shares of FleetCor Technologies (NYSE:FLT) in a research report released on Monday morning. They currently have a $214.00 target price on the business services provider’s stock.

A number of other brokerages also recently issued reports on FLT. Deutsche Bank reissued a buy rating on shares of FleetCor Technologies in a research report on Thursday, September 27th. Zacks Investment Research downgraded shares of FleetCor Technologies from a buy rating to a sell rating in a research report on Wednesday, October 3rd. ValuEngine downgraded shares of FleetCor Technologies from a buy rating to a hold rating in a research report on Friday, November 2nd. Barclays began coverage on shares of FleetCor Technologies in a research report on Wednesday, November 14th. They set an overweight rating and a $245.00 price objective for the company. Finally, Goldman Sachs Group downgraded shares of FleetCor Technologies from a buy rating to a neutral rating and cut their price objective for the company from $245.00 to $215.00 in a research report on Tuesday, December 11th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $230.82.

Shares of FLT stock opened at $189.57 on Monday. FleetCor Technologies has a 1 year low of $172.18 and a 1 year high of $230.24. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.78. The firm has a market cap of $22.72 billion, a PE ratio of 24.06, a price-to-earnings-growth ratio of 1.00 and a beta of 1.35.

FleetCor Technologies (NYSE:FLT) last issued its quarterly earnings data on Tuesday, October 30th. The business services provider reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $0.02. FleetCor Technologies had a net margin of 33.01% and a return on equity of 24.22%. The firm had revenue of $619.60 million during the quarter, compared to the consensus estimate of $609.75 million. During the same quarter in the previous year, the firm posted $2.18 EPS. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, sell-side analysts forecast that FleetCor Technologies will post 9.85 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. boosted its holdings in FleetCor Technologies by 3.1% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 8,707 shares of the business services provider’s stock worth $1,984,000 after buying an additional 260 shares during the period. Mackenzie Financial Corp boosted its holdings in FleetCor Technologies by 22.1% in the 3rd quarter. Mackenzie Financial Corp now owns 1,659 shares of the business services provider’s stock worth $378,000 after buying an additional 300 shares during the period. PNC Financial Services Group Inc. boosted its holdings in FleetCor Technologies by 14.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,406 shares of the business services provider’s stock worth $508,000 after buying an additional 307 shares during the period. Putnam Investments LLC boosted its holdings in FleetCor Technologies by 0.4% in the 3rd quarter. Putnam Investments LLC now owns 77,250 shares of the business services provider’s stock worth $17,601,000 after buying an additional 346 shares during the period. Finally, King Luther Capital Management Corp boosted its holdings in FleetCor Technologies by 0.9% in the 3rd quarter. King Luther Capital Management Corp now owns 47,523 shares of the business services provider’s stock worth $10,828,000 after buying an additional 418 shares during the period. 68.53% of the stock is owned by institutional investors.

FleetCor Technologies Company Profile

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.

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Analyst Recommendations for FleetCor Technologies (NYSE:FLT)

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