Jefferies Group reiterated their buy rating on shares of FleetCor Technologies Inc. (NYSE:FLT) in a research note published on Thursday morning. The brokerage currently has a $186.00 price target on the stock.
“We hosted FLT’s CEO and CFO in Boston yesterday and came away with the following key takeaways: 1) FLT’s methodical approach to unlocking STP synergies should make the deal more accretive than anticipated, 2) the company’s corporate payments/virtual card business is set to return to sustainable high-teens growth, 3) we don’t believe Street estimates have sufficiently factored in a potential improvement in 2017 macro/fuel/FX environment.”,” Jefferies Group’s analyst commented.
A number of other research analysts also recently issued reports on the stock. Barclays PLC boosted their price objective on shares of FleetCor Technologies from $170.00 to $190.00 and gave the company an overweight rating in a research report on Wednesday, September 21st. Monness Crespi & Hardt boosted their price objective on shares of FleetCor Technologies from $173.00 to $186.00 and gave the company a buy rating in a research report on Monday, September 19th. JPMorgan Chase & Co. reissued a hold rating on shares of FleetCor Technologies in a research report on Monday, June 6th. Deutsche Bank AG reissued a buy rating and set a $163.00 price objective (down from $180.00) on shares of FleetCor Technologies in a research report on Thursday, September 1st. Finally, Zacks Investment Research downgraded shares of FleetCor Technologies from a buy rating to a hold rating in a research report on Wednesday, August 10th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. FleetCor Technologies has an average rating of Buy and an average price target of $169.25.
FleetCor Technologies (NYSE:FLT) traded down 0.48% during midday trading on Thursday, hitting $171.83. 108,182 shares of the stock were exchanged. FleetCor Technologies has a 1-year low of $107.56 and a 1-year high of $174.84. The company’s 50 day moving average is $167.28 and its 200-day moving average is $153.50. The stock has a market cap of $15.90 billion, a PE ratio of 41.20 and a beta of 1.25.
FleetCor Technologies (NYSE:FLT) last issued its earnings results on Thursday, August 4th. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.54 by $0.02. FleetCor Technologies had a net margin of 22.97% and a return on equity of 18.16%. The company had revenue of $417.90 million for the quarter, compared to the consensus estimate of $415.20 million. During the same period in the previous year, the firm earned $1.48 earnings per share. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts expect that FleetCor Technologies will post $6.86 earnings per share for the current year.
In other FleetCor Technologies news, insider Todd House sold 4,347 shares of the business’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $151.99, for a total value of $660,700.53. Following the completion of the transaction, the insider now owns 15,984 shares of the company’s stock, valued at approximately $2,429,408.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Charles Richard Freund sold 21,969 shares of the business’s stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $149.00, for a total value of $3,273,381.00. Following the completion of the transaction, the executive vice president now directly owns 30,663 shares of the company’s stock, valued at approximately $4,568,787. The disclosure for this sale can be found here. 4.30% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of the company. Checchi Capital Advisers LLC raised its position in shares of FleetCor Technologies by 2.0% in the second quarter. Checchi Capital Advisers LLC now owns 776 shares of the company’s stock worth $111,000 after buying an additional 15 shares during the period. Pacer Advisors Inc. raised its position in shares of FleetCor Technologies by 10.4% in the second quarter. Pacer Advisors Inc. now owns 814 shares of the company’s stock worth $117,000 after buying an additional 77 shares during the period. Invictus RG acquired a new position in shares of FleetCor Technologies during the second quarter worth $125,000. Parametric Risk Advisors LLC acquired a new position in shares of FleetCor Technologies during the first quarter worth $142,000. Finally, Advisory Services Network LLC raised its position in shares of FleetCor Technologies by 144.1% in the second quarter. Advisory Services Network LLC now owns 1,084 shares of the company’s stock worth $155,000 after buying an additional 640 shares during the period. 92.15% of the stock is owned by institutional investors and hedge funds.
FleetCor Technologies Company Profile
FleetCor Technologies, Inc is an independent global provider of fuel cards, commercial payment and data solutions, stored value solutions, and workforce payment products and services to businesses, retailers, commercial fleets, oil companies, petroleum marketers and government entities in countries throughout North America, Latin America, Europe, Australia and New Zealand.
Receive News & Ratings for FleetCor Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FleetCor Technologies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.