Truist Financial Lowers FLEETCOR Technologies (NYSE:FLT) Price Target to $275.00 – Defense World
Posted by admin on Jul 2nd, 2022 
FLEETCOR Technologies (NYSE:FLT – Get Rating) had its price target dropped by investment analysts at Truist Financial from $290.00 to $275.00 in a note issued to investors on Thursday, The Fly reports. The brokerage presently has a “buy” rating on the business services provider’s stock. Truist Financial’s target price suggests a potential upside of 28.57% from the stock’s previous close.
Several other analysts have also commented on the stock. TheStreet lowered shares of FLEETCOR Technologies from a “b-” rating to a “c” rating in a research note on Thursday, May 26th. Evercore ISI reissued an “outperform” rating and set a $300.00 target price on shares of FLEETCOR Technologies in a research note on Thursday, June 2nd. Citigroup increased their target price on shares of FLEETCOR Technologies from $335.00 to $345.00 and gave the company a “buy” rating in a research note on Thursday, June 9th. StockNews.com initiated coverage on shares of FLEETCOR Technologies in a research note on Thursday, March 31st. They set a “hold” rating for the company. Finally, Barclays upped their price target on shares of FLEETCOR Technologies from $306.00 to $312.00 and gave the company an “overweight” rating in a research report on Thursday, April 14th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, FLEETCOR Technologies has a consensus rating of “Moderate Buy” and an average price target of $296.11.
FLEETCOR Technologies stock opened at $213.89 on Thursday. The firm has a 50 day simple moving average of $232.44 and a 200-day simple moving average of $235.97. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $16.54 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 0.95 and a beta of 1.22. FLEETCOR Technologies has a 12-month low of $200.78 and a 12-month high of $282.02.
FLEETCOR Technologies (NYSE:FLT – Get Rating) last released its earnings results on Thursday, May 5th. The business services provider reported $3.35 EPS for the quarter, beating the consensus estimate of $3.27 by $0.08. FLEETCOR Technologies had a net margin of 28.97% and a return on equity of 34.88%. The business had revenue of $789.20 million during the quarter, compared to analyst estimates of $756.56 million. During the same period in the prior year, the business earned $2.66 earnings per share. The business’s quarterly revenue was up 29.7% on a year-over-year basis. On average, analysts forecast that FLEETCOR Technologies will post 14.47 earnings per share for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in FLEETCOR Technologies by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 8,624,531 shares of the business services provider’s stock valued at $2,148,025,000 after buying an additional 111,367 shares during the period. BlackRock Inc. increased its stake in FLEETCOR Technologies by 3.5% in the 1st quarter. BlackRock Inc. now owns 6,118,876 shares of the business services provider’s stock valued at $1,523,967,000 after buying an additional 207,098 shares during the period. Wellington Management Group LLP increased its stake in FLEETCOR Technologies by 5.0% in the 1st quarter. Wellington Management Group LLP now owns 4,836,861 shares of the business services provider’s stock valued at $1,204,669,000 after buying an additional 228,606 shares during the period. JPMorgan Chase & Co. increased its stake in FLEETCOR Technologies by 2.2% in the 1st quarter. JPMorgan Chase & Co. now owns 4,116,029 shares of the business services provider’s stock valued at $1,025,138,000 after buying an additional 89,065 shares during the period. Finally, Capital World Investors increased its stake in shares of FLEETCOR Technologies by 9.4% during the 4th quarter. Capital World Investors now owns 3,705,911 shares of the business services provider’s stock worth $829,531,000 after purchasing an additional 317,514 shares during the last quarter. Hedge funds and other institutional investors own 97.44% of the company’s stock.
About FLEETCOR Technologies (Get Rating)
FLEETCOR Technologies, Inc provides digital payment solutions for businesses to control purchases and make payments. It offers corporate payments solutions, such as accounts payable automation; Virtual Card, which provides a single-use card number for a specific amount usable within a defined timeframe; Cross-Border that is used by its customers to pay international vendors, foreign office and personnel expenses, capital expenditures, and profit repatriation and dividends; and purchasing cards and travel and entertainment cards for its customers to analyze and manage their corporate spending.
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