Keefe, Bruyette & Woods Cuts FLEETCOR Technologies (NYSE:FLT) Price Target to $230.00 – MarketBeat

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FLEETCOR Technologies (NYSE:FLT – Get Rating) had its price target cut by Morgan Stanley from $254.00 to $196.00 in a research note issued on Tuesday, Stock Target Advisor reports. The brokerage presently has an “equal weight” rating on the business services provider’s stock. Morgan Stanley’s price target points to a potential upside of 13.88% from the stock’s current price.
Several other equities research analysts also recently issued reports on FLT. Wells Fargo & Company cut their price target on FLEETCOR Technologies from $298.00 to $274.00 and set an “overweight” rating for the company in a report on Thursday, September 8th. Barclays cut their price target on FLEETCOR Technologies from $295.00 to $290.00 and set an “overweight” rating for the company in a report on Thursday, September 15th. Royal Bank of Canada cut their price target on FLEETCOR Technologies from $300.00 to $265.00 and set a “sector perform” rating for the company in a report on Thursday, August 4th. Mizuho increased their price objective on FLEETCOR Technologies from $250.00 to $256.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 9th. Finally, Robert W. Baird lowered their price objective on FLEETCOR Technologies from $250.00 to $220.00 and set a “neutral” rating on the stock in a research report on Monday, September 26th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $266.45.

FLEETCOR Technologies Stock Down 2.0 %

Shares of NYSE FLT traded down $3.58 during trading hours on Tuesday, hitting $172.11. The company had a trading volume of 9,514 shares, compared to its average volume of 710,791. The firm’s 50 day moving average is $209.55 and its 200-day moving average is $225.05. FLEETCOR Technologies has a 1-year low of $173.34 and a 1-year high of $282.02. The stock has a market capitalization of $12.91 billion, a P/E ratio of 14.83, a price-to-earnings-growth ratio of 0.86 and a beta of 1.24. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.77.
FLEETCOR Technologies (NYSE:FLT – Get Rating) last announced its quarterly earnings results on Wednesday, August 3rd. The business services provider reported $3.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.57 by $0.25. FLEETCOR Technologies had a return on equity of 38.86% and a net margin of 29.27%. The business had revenue of $861.28 million during the quarter, compared to the consensus estimate of $819.94 million. On average, analysts expect that FLEETCOR Technologies will post 14.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Alan King sold 1,379 shares of the firm’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $223.38, for a total value of $308,041.02. Following the transaction, the insider now owns 9,250 shares in the company, valued at $2,066,265. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FLT. Silvercrest Asset Management Group LLC grew its position in FLEETCOR Technologies by 6.6% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 5,248 shares of the business services provider’s stock valued at $1,175,000 after acquiring an additional 326 shares during the last quarter. EverSource Wealth Advisors LLC bought a new position in FLEETCOR Technologies in the fourth quarter valued at about $77,000. Vident Investment Advisory LLC grew its position in FLEETCOR Technologies by 28.3% in the fourth quarter. Vident Investment Advisory LLC now owns 18,137 shares of the business services provider’s stock valued at $4,059,000 after acquiring an additional 4,004 shares during the last quarter. Byrne Asset Management LLC bought a new position in FLEETCOR Technologies in the fourth quarter valued at about $565,000. Finally, Psagot Value Holdings Ltd. Israel bought a new position in FLEETCOR Technologies in the fourth quarter valued at about $223,000. Institutional investors own 91.52% of the company’s stock.

About FLEETCOR Technologies

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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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