Bank of America upgraded shares of FLEETCOR Technologies (NYSE:FLT – Get Rating) from a neutral rating to a buy rating in a report published on Tuesday, Marketbeat reports. They currently have $240.00 price objective on the business services provider's stock, up from their prior price objective of $208.00.
Several other research firms have also weighed in on FLT. Robert W. Baird increased their price target on shares of FLEETCOR Technologies from $220.00 to $230.00 and gave the company a neutral rating in a research report on Wednesday, January 25th. Wells Fargo & Company lowered their price target on shares of FLEETCOR Technologies from $240.00 to $225.00 and set an overweight rating on the stock in a report on Monday, January 9th. Keefe, Bruyette & Woods reduced their price objective on FLEETCOR Technologies from $335.00 to $230.00 in a report on Monday, October 10th. Mizuho lowered their target price on FLEETCOR Technologies from $256.00 to $220.00 and set a neutral rating on the stock in a research note on Monday, November 14th. Finally, Morgan Stanley dropped their price target on FLEETCOR Technologies from $196.00 to $188.00 and set an equal weight rating on the stock in a research report on Thursday, November 3rd. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $242.00.
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Shares of NYSE FLT opened at $218.20 on Tuesday. The company has a market capitalization of $16.09 billion, a PE ratio of 18.28, a PEG ratio of 0.86 and a beta of 1.21. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 2.13. The stock's 50 day moving average price is $190.86 and its 200-day moving average price is $197.35. FLEETCOR Technologies has a twelve month low of $161.69 and a twelve month high of $265.30.
FLEETCOR Technologies (NYSE:FLT – Get Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The business services provider reported $3.91 earnings per share for the quarter, topping the consensus estimate of $3.86 by $0.05. FLEETCOR Technologies had a return on equity of 42.85% and a net margin of 28.51%. The business had revenue of $893.00 million for the quarter, compared to analysts' expectations of $877.61 million. During the same quarter in the previous year, the firm earned $3.37 earnings per share. On average, equities analysts anticipate that FLEETCOR Technologies will post 14.71 EPS for the current year.Institutional Trading of FLEETCOR Technologies
Hedge funds and other institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its holdings in shares of FLEETCOR Technologies by 16.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 5,528,923 shares of the business services provider's stock worth $1,161,682,000 after purchasing an additional 775,047 shares in the last quarter. Sustainable Growth Advisers LP grew its stake in FLEETCOR Technologies by 9.9% in the 4th quarter. Sustainable Growth Advisers LP now owns 2,517,359 shares of the business services provider's stock worth $462,388,000 after buying an additional 226,853 shares in the last quarter. Parsifal Capital Management LP bought a new position in shares of FLEETCOR Technologies in the 3rd quarter worth $38,105,000. Korea Investment CORP raised its position in shares of FLEETCOR Technologies by 101.7% during the 3rd quarter. Korea Investment CORP now owns 370,314 shares of the business services provider's stock valued at $65,238,000 after buying an additional 186,703 shares in the last quarter. Finally, Boston Partners grew its position in FLEETCOR Technologies by 6.6% in the third quarter. Boston Partners now owns 2,376,266 shares of the business services provider's stock worth $418,767,000 after acquiring an additional 146,518 shares in the last quarter. Institutional investors own 90.49% of the company's stock.
About FLEETCOR Technologies
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FLEETCOR Technologies, Inc engages in the provision of digital payment solutions that enables businesses to control purchases and make payments. It operates through the following geographical segments: North America, International, and Brazil. The company was founded by William Boatner Reily III and Ronald F.
Further Reading
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