FLEETCOR Technologies (NYSE:FLT) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of FLEETCOR Technologies (NYSE:FLT) in a research note released on Friday. The brokerage issued a buy rating on the business services provider’s stock.

FLT has been the subject of a number of other reports. Jefferies Financial Group upped their price objective on shares of FLEETCOR Technologies from $325.00 to $330.00 and gave the stock a buy rating in a report on Wednesday, January 17th. BMO Capital Markets decreased their price target on FLEETCOR Technologies from $340.00 to $330.00 and set an outperform rating for the company in a research note on Wednesday, February 14th. UBS Group raised their price objective on FLEETCOR Technologies from $280.00 to $285.00 and gave the company a neutral rating in a research note on Wednesday, February 14th. Mizuho boosted their target price on FLEETCOR Technologies from $235.00 to $265.00 and gave the stock a neutral rating in a report on Thursday, January 18th. Finally, Royal Bank of Canada increased their price target on FLEETCOR Technologies from $270.00 to $302.00 and gave the company a sector perform rating in a report on Thursday, February 8th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, FLEETCOR Technologies currently has an average rating of Moderate Buy and an average target price of $299.67.

FLEETCOR Technologies Price Performance

FLT opened at $303.26 on Friday. The stock has a fifty day moving average price of $287.77 and a 200 day moving average price of $267.50. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.40. FLEETCOR Technologies has a 1 year low of $194.60 and a 1 year high of $309.39. The stock has a market cap of $21.90 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 1.15 and a beta of 1.22.

FLEETCOR Technologies (NYSE:FLT) last announced its quarterly earnings results on Wednesday, February 7th. The business services provider reported $4.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.48 by ($0.04). FLEETCOR Technologies had a net margin of 26.13% and a return on equity of 37.56%. The firm had revenue of $937.32 million for the quarter, compared to analyst estimates of $967.01 million. During the same quarter in the prior year, the firm earned $3.83 earnings per share. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. Analysts forecast that FLEETCOR Technologies will post 18.2 EPS for the current fiscal year.

Insider Activity

In related news, CEO Ronald Clarke sold 118,428 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $281.84, for a total value of $33,377,747.52. Following the completion of the transaction, the chief executive officer now directly owns 2,023,491 shares of the company’s stock, valued at $570,300,703.44. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Ronald Clarke sold 118,428 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $281.84, for a total value of $33,377,747.52. Following the completion of the transaction, the chief executive officer now owns 2,023,491 shares of the company’s stock, valued at $570,300,703.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Alissa B. Vickery sold 2,794 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $290.31, for a total transaction of $811,126.14. Following the transaction, the chief accounting officer now owns 1,885 shares of the company’s stock, valued at approximately $547,234.35. The disclosure for this sale can be found here. 6.50% of the stock is currently owned by company insiders.

Institutional Trading of FLEETCOR Technologies

Several hedge funds have recently modified their holdings of FLT. Blue Trust Inc. lifted its position in shares of FLEETCOR Technologies by 208.8% during the fourth quarter. Blue Trust Inc. now owns 105 shares of the business services provider’s stock worth $27,000 after purchasing an additional 71 shares in the last quarter. Mather Group LLC. acquired a new position in FLEETCOR Technologies during the 1st quarter worth $43,000. Lindbrook Capital LLC boosted its position in FLEETCOR Technologies by 27.7% in the 4th quarter. Lindbrook Capital LLC now owns 240 shares of the business services provider’s stock valued at $68,000 after buying an additional 52 shares during the last quarter. Signaturefd LLC increased its stake in shares of FLEETCOR Technologies by 26.3% in the 3rd quarter. Signaturefd LLC now owns 293 shares of the business services provider’s stock valued at $75,000 after buying an additional 61 shares during the period. Finally, GAMMA Investing LLC acquired a new stake in shares of FLEETCOR Technologies in the 4th quarter valued at $102,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

FLEETCOR Technologies Company Profile

FLEETCOR Technologies, Inc operates as a payments company that helps businesses and consumers manage vehicle-related expenses, lodging expenses, and corporate payments in the United States, Brazil, the United Kingdom, and internationally. It operates through Vehicle Payments, Corporate Payments, Lodging Payments, and Other segments.