Other equities analysts have also issued research reports about the company. Barclays PLC raised their price objective on FleetCor Technologies from $160.00 to $170.00 and gave the stock an overweight rating in a report on Friday, August 5th. Zacks Investment Research lowered FleetCor Technologies from a buy rating to a hold rating in a report on Wednesday, August 10th. JPMorgan Chase & Co. raised FleetCor Technologies from a neutral rating to an overweight rating and set a $159.00 price target on the stock in a report on Tuesday, July 12th. Deutsche Bank AG raised their price target on FleetCor Technologies from $161.00 to $163.00 and gave the stock a buy rating in a report on Friday, August 5th. Finally, Morgan Stanley set a $170.00 price target on FleetCor Technologies and gave the stock a buy rating in a report on Friday, August 5th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of $171.00.
FleetCor Technologies (NYSE:FLT) traded up 1.3112% during midday trading on Thursday, reaching $170.9525. The company’s stock had a trading volume of 285,780 shares. FleetCor Technologies has a 52 week low of $107.56 and a 52 week high of $174.96. The firm has a market capitalization of $15.82 billion, a P/E ratio of 40.9860 and a beta of 1.24. The company’s 50-day moving average is $168.76 and its 200 day moving average is $155.45.
FleetCor Technologies (NYSE:FLT) last issued its quarterly earnings data on Thursday, August 4th. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.02. The company had revenue of $417.90 million for the quarter, compared to analyst estimates of $415.20 million. FleetCor Technologies had a return on equity of 18.16% and a net margin of 22.97%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.48 earnings per share. Analysts expect that FleetCor Technologies will post $6.86 earnings per share for the current fiscal year.
In related news, CEO Ronald Clarke sold 243,617 shares of FleetCor Technologies stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $167.37, for a total transaction of $40,774,177.29. Following the completion of the transaction, the chief executive officer now directly owns 349,283 shares in the company, valued at approximately $58,459,495.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph W. Farrelly sold 1,200 shares of FleetCor Technologies stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $168.73, for a total transaction of $202,476.00. Following the completion of the sale, the director now directly owns 3,224 shares of the company’s stock, valued at $543,985.52. The disclosure for this sale can be found here. Corporate insiders own 4.30% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in FLT. Soroban Capital Partners LP boosted its stake in FleetCor Technologies by 18.5% in the first quarter. Soroban Capital Partners LP now owns 995,000 shares of the company’s stock valued at $148,006,000 after buying an additional 155,000 shares during the last quarter. Southpoint Capital Advisors LP purchased a new stake in FleetCor Technologies during the first quarter valued at approximately $70,656,000. Hillman Co. boosted its stake in FleetCor Technologies by 34.9% in the second quarter. Hillman Co. now owns 239,144 shares of the company’s stock valued at $34,229,000 after buying an additional 61,850 shares during the last quarter. Geode Capital Management LLC boosted its stake in FleetCor Technologies by 4.8% in the first quarter. Geode Capital Management LLC now owns 459,691 shares of the company’s stock valued at $68,338,000 after buying an additional 21,234 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in FleetCor Technologies by 63.3% in the first quarter. Wellington Management Group LLP now owns 1,303,071 shares of the company’s stock valued at $193,832,000 after buying an additional 505,080 shares during the last quarter. 92.15% of the stock is owned by hedge funds and other institutional investors.
About FleetCor Technologies
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.
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