FLEETCOR Technologies (NYSE:FLT) PT Lowered to $298.00 – MarketBeat

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FLEETCOR Technologies (NYSE:FLT – Get Rating) had its target price lowered by equities researchers at Wells Fargo & Company to $298.00 in a report issued on Friday, Stock Target Advisor reports. Wells Fargo & Company‘s price target would suggest a potential upside of 36.20% from the stock’s previous close.
Other equities research analysts have also recently issued research reports about the stock. Barclays dropped their target price on shares of FLEETCOR Technologies from $312.00 to $286.00 and set an “overweight” rating on the stock in a report on Tuesday. StockNews.com initiated coverage on shares of FLEETCOR Technologies in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Truist Financial dropped their target price on shares of FLEETCOR Technologies from $290.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, June 30th. Citigroup raised their target price on shares of FLEETCOR Technologies from $335.00 to $345.00 and gave the stock a “buy” rating in a report on Thursday, June 9th. Finally, TheStreet cut shares of FLEETCOR Technologies from a “b-” rating to a “c” rating in a research note on Thursday, May 26th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $293.67.

FLEETCOR Technologies Stock Down 1.0 %

Shares of NYSE:FLT traded down $2.12 during trading on Friday, reaching $218.79. 318,985 shares of the stock traded hands, compared to its average volume of 572,529. The stock has a 50-day moving average of $225.05 and a two-hundred day moving average of $235.27. FLEETCOR Technologies has a 52-week low of $200.78 and a 52-week high of $282.02. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market cap of $16.92 billion, a P/E ratio of 20.66, a price-to-earnings-growth ratio of 0.97 and a beta of 1.25.
FLEETCOR Technologies (NYSE:FLT – Get Rating) last posted its quarterly earnings results on Thursday, May 5th. The business services provider reported $3.35 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.08. FLEETCOR Technologies had a net margin of 28.97% and a return on equity of 34.88%. The firm had revenue of $789.20 million for the quarter, compared to analysts’ expectations of $756.56 million. During the same quarter in the prior year, the company posted $2.66 earnings per share. The business’s revenue for the quarter was up 29.7% on a year-over-year basis. As a group, sell-side analysts expect that FLEETCOR Technologies will post 14.47 earnings per share for the current fiscal year.

Institutional Trading of FLEETCOR Technologies

Several institutional investors and hedge funds have recently modified their holdings of the company. Spire Wealth Management raised its position in shares of FLEETCOR Technologies by 7,486.7% during the 2nd quarter. Spire Wealth Management now owns 1,138 shares of the business services provider’s stock valued at $239,000 after purchasing an additional 1,123 shares during the period. Thompson Siegel & Walmsley LLC raised its position in shares of FLEETCOR Technologies by 6.6% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 368,166 shares of the business services provider’s stock valued at $77,355,000 after purchasing an additional 22,789 shares during the period. Truist Financial Corp raised its position in shares of FLEETCOR Technologies by 22.0% during the 2nd quarter. Truist Financial Corp now owns 6,925 shares of the business services provider’s stock valued at $1,455,000 after purchasing an additional 1,251 shares during the period. Parametrica Management Ltd bought a new stake in shares of FLEETCOR Technologies during the 2nd quarter valued at $299,000. Finally, Exchange Traded Concepts LLC raised its position in shares of FLEETCOR Technologies by 48.6% during the 2nd quarter. Exchange Traded Concepts LLC now owns 1,140 shares of the business services provider’s stock valued at $240,000 after purchasing an additional 373 shares during the period. 97.44% of the stock is currently owned by institutional investors.

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.

Further Reading

• Get a free copy of the StockNews.com research report on FLEETCOR Technologies (FLT)
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