FLEETCOR Technologies, Inc. (NYSE:FLT) Given Average Recommendation of "Moderate Buy" by Brokerages – MarketBeat

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Shares of FLEETCOR Technologies, Inc. (NYSE:FLT – Get Rating) have earned an average rating of “Moderate Buy” from the eleven research firms that are covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $296.11.
A number of research firms have recently weighed in on FLT. Truist Financial decreased their price target on shares of FLEETCOR Technologies from $290.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday. Barclays boosted their target price on shares of FLEETCOR Technologies from $306.00 to $312.00 and gave the stock an “overweight” rating in a research report on Thursday, April 14th. Wells Fargo & Company began coverage on shares of FLEETCOR Technologies in a research report on Monday, April 4th. They set an “overweight” rating and a $294.00 price target on the stock. Evercore ISI reissued an “outperform” rating and issued a $300.00 price objective on shares of FLEETCOR Technologies in a report on Thursday, June 2nd. Finally, Citigroup increased their target price on FLEETCOR Technologies from $335.00 to $345.00 and gave the stock a “buy” rating in a report on Thursday, June 9th.
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Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE lifted its position in FLEETCOR Technologies by 17.9% in the 1st quarter. Bank of America Corp DE now owns 622,990 shares of the business services provider’s stock valued at $155,162,000 after purchasing an additional 94,361 shares during the last quarter. Walleye Capital LLC bought a new stake in shares of FLEETCOR Technologies during the first quarter valued at approximately $5,874,000. Kestra Private Wealth Services LLC boosted its position in shares of FLEETCOR Technologies by 4.0% during the first quarter. Kestra Private Wealth Services LLC now owns 1,579 shares of the business services provider’s stock worth $393,000 after buying an additional 61 shares during the period. Advisory Services Network LLC grew its holdings in FLEETCOR Technologies by 6.8% in the 1st quarter. Advisory Services Network LLC now owns 1,112 shares of the business services provider’s stock worth $276,000 after buying an additional 71 shares in the last quarter. Finally, Neuberger Berman Group LLC acquired a new stake in FLEETCOR Technologies in the 1st quarter valued at approximately $314,000. 97.44% of the stock is owned by institutional investors.
Shares of FLT stock opened at $213.89 on Monday. 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 company’s fifty day moving average price is $232.44 and its two-hundred day moving average price is $236.26. The firm has a market capitalization of $16.54 billion, a P/E ratio of 20.20, a P/E/G ratio of 0.94 and a beta of 1.25. 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 announced its earnings results on Thursday, May 5th. The business services provider reported $3.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.08. FLEETCOR Technologies had a return on equity of 34.88% and a net margin of 28.97%. The business had revenue of $789.20 million for the quarter, compared to analyst estimates of $756.56 million. During the same period in the previous year, the company earned $2.66 earnings per share. The company’s revenue for the quarter was up 29.7% compared to the same quarter last year. On average, sell-side analysts anticipate that FLEETCOR Technologies will post 14.47 EPS for the current year.
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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