Zacks Investment Research upgraded shares of Fleetcor (NYSE:FLT) from a sell rating to a buy rating in a report released on Wednesday. Zacks Investment Research currently has $224.00 target price on the business services provider’s stock.
According to Zacks, “FleetCor is a leading independent global provider of fuel cards, commercial payment and data solutions, lodging and transportation management services, stored value solutions, and workforce payment products and services to businesses, retailers, commercial fleets, major oil companies, petroleum marketers and government entities in countries throughout North America, Latin America, Europe, Australia and New Zealand. They also provide a suite of fleet related and workforce payment solution products, including mobile telematics services, fleet maintenance management and employee benefit and transportation related payments. “
Other equities research analysts have also issued reports about the stock. Keefe, Bruyette & Woods reiterated a buy rating and set a $236.00 target price on shares of Fleetcor in a report on Thursday, February 8th. Morgan Stanley reiterated a buy rating and set a $235.00 target price (up from $232.00) on shares of Fleetcor in a report on Wednesday, March 14th. SunTrust Banks set a $240.00 target price on shares of Fleetcor and gave the stock a buy rating in a report on Monday, February 5th. Wells Fargo set a $225.00 target price on shares of Fleetcor and gave the stock a buy rating in a report on Wednesday, January 10th. Finally, Credit Suisse Group increased their target price on shares of Fleetcor from $186.00 to $206.00 and gave the stock a neutral rating in a report on Wednesday, January 17th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $209.14.
Fleetcor (NYSE:FLT) last released its earnings results on Thursday, February 8th. The business services provider reported $2.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.33 by $0.09. The company had revenue of $610.00 million for the quarter, compared to analyst estimates of $605.87 million. Fleetcor had a net margin of 32.90% and a return on equity of 21.15%. The firm’s quarterly revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.90 EPS. equities analysts forecast that Fleetcor will post 9.6 EPS for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the company. Captrust Financial Advisors acquired a new stake in shares of Fleetcor in the 4th quarter valued at $156,000. First Personal Financial Services raised its holdings in shares of Fleetcor by 31.4% in the 4th quarter. First Personal Financial Services now owns 1,020 shares of the business services provider’s stock valued at $196,000 after purchasing an additional 244 shares in the last quarter. Lombard Odier Asset Management Europe Ltd acquired a new stake in shares of Fleetcor in the 4th quarter valued at $207,000. HBK Sorce Advisory LLC acquired a new stake in shares of Fleetcor in the 4th quarter valued at $211,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Fleetcor in the 4th quarter valued at $216,000. Institutional investors and hedge funds own 94.36% of the company’s stock.
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