FleetCor Technologies, Inc. (NYSE:FLT) Given Consensus Rating of “Hold” by Brokerages

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Shares of FleetCor Technologies, Inc. (NYSE:FLT) have earned an average rating of “Hold” from the nineteen brokerages that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $282.82.

Several analysts have commented on the stock. Royal Bank of Canada assumed coverage on shares of FleetCor Technologies in a research report on Monday, October 7th. They issued a “sector perform” rating and a $324.00 target price for the company. Zacks Investment Research downgraded shares of FleetCor Technologies from a “hold” rating to a “sell” rating and set a $311.00 target price for the company. in a research report on Monday, October 14th. SunTrust Banks reissued a “buy” rating and issued a $345.00 target price (up from $320.00) on shares of FleetCor Technologies in a research report on Thursday, October 10th. ValuEngine downgraded shares of FleetCor Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Raymond James assumed coverage on shares of FleetCor Technologies in a research report on Monday, September 30th. They issued a “market perform” rating and a $314.00 target price for the company.

In other news, insider Eales John acquired 2,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was acquired at an average cost of $39.79 per share, with a total value of $79,572.00. Also, insider Garnsey Colette acquired 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were purchased at an average cost of $40.66 per share, with a total value of $50,825.00. 5.70% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of FLT. Highstreet Asset Management Inc. bought a new stake in FleetCor Technologies in the 2nd quarter valued at $786,000. BB&T Securities LLC boosted its holdings in FleetCor Technologies by 34.7% in the 2nd quarter. BB&T Securities LLC now owns 5,113 shares of the business services provider’s stock valued at $1,435,000 after purchasing an additional 1,316 shares during the period. Morgan Stanley boosted its holdings in FleetCor Technologies by 3.8% in the 2nd quarter. Morgan Stanley now owns 89,183 shares of the business services provider’s stock valued at $25,047,000 after purchasing an additional 3,254 shares during the period. First Trust Advisors LP boosted its holdings in FleetCor Technologies by 9.9% in the 3rd quarter. First Trust Advisors LP now owns 293,885 shares of the business services provider’s stock valued at $84,280,000 after purchasing an additional 26,472 shares during the period. Finally, Impala Asset Management LLC bought a new stake in FleetCor Technologies in the 2nd quarter valued at $2,120,000. 93.46% of the stock is owned by institutional investors and hedge funds.

FLT stock traded up $0.33 during trading hours on Wednesday, hitting $306.21. The company’s stock had a trading volume of 482,738 shares, compared to its average volume of 567,465. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $26.63 billion, a PE ratio of 30.84, a price-to-earnings-growth ratio of 1.76 and a beta of 1.12. FleetCor Technologies has a 12 month low of $172.18 and a 12 month high of $315.75. The stock has a 50 day moving average price of $297.18 and a two-hundred day moving average price of $287.22.

FleetCor Technologies (NYSE:FLT) last posted its earnings results on Wednesday, November 6th. The business services provider reported $3.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.90 by $0.20. The company had revenue of $681.00 million during the quarter, compared to the consensus estimate of $679.68 million. FleetCor Technologies had a net margin of 37.08% and a return on equity of 26.81%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.68 earnings per share. Sell-side analysts expect that FleetCor Technologies will post 11.22 earnings per share for the current year.

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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