FLEETCOR Technologies, Inc. (NYSE:FLT) Sees Significant Drop in … – MarketBeat
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FLEETCOR Technologies, Inc. (NYSE:FLT – Get Rating) was the target of a large decrease in short interest during the month of November. As of November 30th, there was short interest totalling 925,100 shares, a decrease of 11.9% from the November 15th total of 1,050,000 shares. Currently, 1.3% of the shares of the stock are sold short. Based on an average daily volume of 636,300 shares, the short-interest ratio is presently 1.5 days.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in FLT. Deseret Mutual Benefit Administrators bought a new position in shares of FLEETCOR Technologies during the second quarter valued at about $26,000. Covestor Ltd raised its position in FLEETCOR Technologies by 253.1% in the first quarter. Covestor Ltd now owns 113 shares of the business services provider’s stock worth $28,000 after acquiring an additional 81 shares during the period. Fred Alger Management LLC raised its position in FLEETCOR Technologies by 102.4% in the third quarter. Fred Alger Management LLC now owns 170 shares of the business services provider’s stock worth $30,000 after acquiring an additional 86 shares during the period. Clear Street Markets LLC raised its position in FLEETCOR Technologies by 393.9% in the second quarter. Clear Street Markets LLC now owns 163 shares of the business services provider’s stock worth $34,000 after acquiring an additional 130 shares during the period. Finally, Lazard Asset Management LLC bought a new stake in FLEETCOR Technologies in the first quarter worth about $35,000. 91.52% of the stock is owned by institutional investors.
FLEETCOR Technologies Stock Down 0.7 %
Shares of NYSE FLT traded down $1.32 during mid-day trading on Friday, reaching $181.25. 1,016,640 shares of the company’s stock traded hands, compared to its average volume of 585,558. The stock has a market cap of $13.37 billion, a P/E ratio of 14.94, a PEG ratio of 0.77 and a beta of 1.21. The business has a 50-day simple moving average of $183.63 and a 200 day simple moving average of $204.30. FLEETCOR Technologies has a 1-year low of $161.69 and a 1-year high of $265.30. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.99 and a quick ratio of 0.99.
FLEETCOR Technologies (NYSE:FLT – Get Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The business services provider reported $3.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.86 by $0.05. FLEETCOR Technologies had a net margin of 28.51% and a return on equity of 42.85%. The firm had revenue of $893.00 million during the quarter, compared to analysts’ expectations of $877.61 million. During the same period last year, the company earned $3.37 earnings per share. On average, analysts expect that FLEETCOR Technologies will post 14.72 EPS for the current fiscal year.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on FLT shares. Truist Financial dropped their price target on shares of FLEETCOR Technologies from $275.00 to $225.00 and set a “buy” rating for the company in a research note on Thursday, October 13th. Mizuho decreased their price objective on shares of FLEETCOR Technologies from $256.00 to $220.00 and set a “neutral” rating for the company in a research report on Monday, November 14th. Wells Fargo & Company decreased their price objective on shares of FLEETCOR Technologies from $298.00 to $274.00 and set an “overweight” rating for the company in a research report on Thursday, September 8th. Royal Bank of Canada decreased their price objective on shares of FLEETCOR Technologies from $265.00 to $226.00 and set a “sector perform” rating for the company in a research report on Thursday, November 3rd. Finally, Morgan Stanley decreased their price objective on shares of FLEETCOR Technologies from $196.00 to $188.00 and set an “equal weight” rating for the company in a research report on Thursday, November 3rd. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $243.08.
FLEETCOR Technologies Company Profile
(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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