FleetCor Technologies (FLT) Earns “Neutral” Rating from Mizuho

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FleetCor Technologies (NYSE:FLT)‘s stock had its “neutral” rating reissued by research analysts at Mizuho in a note issued to investors on Wednesday, Marketbeat Ratings reports. They currently have a $230.00 price objective on the business services provider’s stock. Mizuho’s price objective would suggest a potential upside of 0.69% from the company’s current price.

Other equities analysts also recently issued reports about the company. ValuEngine raised FleetCor Technologies from a “hold” rating to a “buy” rating in a report on Friday, February 8th. Zacks Investment Research downgraded FleetCor Technologies from a “hold” rating to a “sell” rating in a report on Monday, February 11th. Goldman Sachs Group downgraded FleetCor Technologies from a “buy” rating to a “neutral” rating and lowered their price target for the company from $245.00 to $215.00 in a report on Tuesday, December 11th. Deutsche Bank lowered their price target on FleetCor Technologies to $212.00 and set a “buy” rating for the company in a report on Tuesday, December 18th. Finally, BTIG Research initiated coverage on FleetCor Technologies in a report on Thursday, January 17th. They issued a “buy” rating and a $253.00 price target for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $235.73.

Shares of FLT opened at $228.43 on Wednesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.86 and a quick ratio of 0.92. The company has a market capitalization of $27.95 billion, a P/E ratio of 23.00, a price-to-earnings-growth ratio of 1.29 and a beta of 1.29. FleetCor Technologies has a 52-week low of $172.18 and a 52-week high of $230.24.

FleetCor Technologies (NYSE:FLT) last announced its quarterly earnings results on Wednesday, February 6th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.72 by ($0.08). The business had revenue of $643.40 million during the quarter, compared to analyst estimates of $620.45 million. FleetCor Technologies had a net margin of 33.35% and a return on equity of 25.73%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the company earned $2.42 earnings per share. On average, sell-side analysts predict that FleetCor Technologies will post 11.01 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Nordea Investment Management AB lifted its stake in FleetCor Technologies by 106.6% in the fourth quarter. Nordea Investment Management AB now owns 10,596 shares of the business services provider’s stock valued at $1,968,000 after buying an additional 5,467 shares during the last quarter. Executive Wealth Management LLC purchased a new stake in shares of FleetCor Technologies during the fourth quarter worth approximately $33,000. Millennium Management LLC purchased a new stake in shares of FleetCor Technologies during the fourth quarter worth approximately $27,507,000. Kaizen Advisory LLC purchased a new stake in shares of FleetCor Technologies during the fourth quarter worth approximately $42,000. Finally, Macquarie Group Ltd. raised its stake in shares of FleetCor Technologies by 353.5% during the fourth quarter. Macquarie Group Ltd. now owns 5,896 shares of the business services provider’s stock worth $1,095,000 after purchasing an additional 4,596 shares during the last quarter. Institutional investors own 67.39% of the company’s stock.

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.

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Analyst Recommendations for FleetCor Technologies (NYSE:FLT)

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