Barclays set a $340.00 price target on FleetCor Technologies (NYSE:FLT) in a research note issued to investors on Monday, TipRanks reports. The brokerage currently has a buy rating on the business services provider’s stock.
Several other equities analysts have also commented on FLT. Mizuho increased their price objective on shares of FleetCor Technologies from $245.00 to $247.00 and gave the company a neutral rating in a research report on Wednesday, May 8th. Robert W. Baird began coverage on shares of FleetCor Technologies in a research report on Wednesday, July 24th. They set a neutral rating and a $302.00 price objective for the company. GMP Securities reiterated an average rating and set a $4.00 price objective on shares of FleetCor Technologies in a research report on Wednesday, June 5th. Morgan Stanley lowered shares of FleetCor Technologies from an overweight rating to an equal weight rating and increased their price objective for the company from $240.00 to $284.00 in a research report on Thursday, July 11th. Finally, Jefferies Financial Group set a $250.00 price objective on shares of FleetCor Technologies and gave the company a hold rating in a research report on Tuesday, April 23rd. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. FleetCor Technologies currently has a consensus rating of Buy and a consensus target price of $269.27.
FLT opened at $286.73 on Monday. The stock has a market capitalization of $25.01 billion, a price-to-earnings ratio of 28.88, a PEG ratio of 1.66 and a beta of 1.16. The company has a fifty day moving average of $287.69 and a 200 day moving average of $257.85. FleetCor Technologies has a fifty-two week low of $172.18 and a fifty-two week high of $297.13. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.91 and a current ratio of 0.92.
FleetCor Technologies (NYSE:FLT) last posted its earnings results on Tuesday, August 6th. The business services provider reported $2.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.64 by $0.05. The company had revenue of $647.09 million during the quarter, compared to analysts’ expectations of $633.95 million. FleetCor Technologies had a net margin of 35.29% and a return on equity of 26.37%. FleetCor Technologies’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the company posted $2.57 earnings per share. On average, equities research analysts forecast that FleetCor Technologies will post 11.15 earnings per share for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Bray Capital Advisors bought a new stake in FleetCor Technologies during the 2nd quarter valued at about $25,000. Quantamental Technologies LLC bought a new stake in FleetCor Technologies during the 1st quarter valued at about $25,000. Meeder Asset Management Inc. bought a new stake in FleetCor Technologies during the 2nd quarter valued at about $30,000. Motco bought a new stake in FleetCor Technologies during the 2nd quarter valued at about $33,000. Finally, Advisory Services Network LLC lifted its holdings in FleetCor Technologies by 94.2% during the 2nd quarter. Advisory Services Network LLC now owns 134 shares of the business services provider’s stock valued at $38,000 after buying an additional 65 shares in the last quarter. Institutional investors own 94.71% of the company’s stock.
FleetCor Technologies Company Profile
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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