SunTrust Banks Raises FleetCor Technologies (NYSE:FLT) Price Target to $320.00

FleetCor Technologies (NYSE:FLT) had its target price lifted by SunTrust Banks to $320.00 in a research report released on Thursday morning, The Fly reports. They currently have a buy rating on the business services provider’s stock.

Several other brokerages also recently weighed in on FLT. Oppenheimer upped their target price on shares of FleetCor Technologies from $265.00 to $270.00 and gave the stock an outperform rating in a report on Wednesday, May 8th. Bank of America assumed coverage on shares of FleetCor Technologies in a report on Monday, June 3rd. They issued a neutral rating and a $275.00 target price for the company. Jefferies Financial Group set a $250.00 target price on shares of FleetCor Technologies and gave the stock a hold rating in a report on Tuesday, April 23rd. GMP Securities reaffirmed an average rating and issued a $4.00 target price on shares of FleetCor Technologies in a report on Wednesday, June 5th. Finally, Goldman Sachs Group raised shares of FleetCor Technologies from a neutral rating to a buy rating and upped their target price for the stock from $243.00 to $305.00 in a report on Wednesday, June 5th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $246.64.

Shares of FLT stock opened at $272.88 on Thursday. FleetCor Technologies has a 1 year low of $172.18 and a 1 year high of $276.89. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.77. The firm has a market cap of $23.05 billion, a PE ratio of 27.48, a price-to-earnings-growth ratio of 1.57 and a beta of 1.16.

FleetCor Technologies (NYSE:FLT) last issued its earnings results on Tuesday, May 7th. The business services provider reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.46 by $0.10. The company had revenue of $621.80 million during the quarter, compared to the consensus estimate of $608.40 million. FleetCor Technologies had a net margin of 32.74% and a return on equity of 26.56%. FleetCor Technologies’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.50 EPS. On average, sell-side analysts forecast that FleetCor Technologies will post 11.1 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the business. Quantamental Technologies LLC purchased a new stake in FleetCor Technologies in the 1st quarter worth $25,000. Capital Investment Advisory Services LLC purchased a new stake in FleetCor Technologies in the 4th quarter worth $25,000. Lindbrook Capital LLC purchased a new stake in FleetCor Technologies in the 4th quarter worth $28,000. Bronfman E.L. Rothschild L.P. lifted its stake in FleetCor Technologies by 254.3% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 163 shares of the business services provider’s stock worth $30,000 after purchasing an additional 117 shares in the last quarter. Finally, Executive Wealth Management LLC purchased a new stake in FleetCor Technologies in the 4th quarter worth $33,000. Institutional investors and hedge funds own 93.73% 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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