Citigroup Raises FleetCor Technologies (NYSE:FLT) Price Target to $340.00

FleetCor Technologies (NYSE:FLT) had its price target raised by Citigroup from $300.00 to $340.00 in a research note published on Monday, BenzingaRatingsTable reports. Citigroup currently has a buy rating on the business services provider’s stock.

Several other research firms have also issued reports on FLT. Barclays set a $340.00 price target on shares of FleetCor Technologies and gave the stock a buy rating in a report on Monday, August 12th. BTIG Research reaffirmed a buy rating and issued a $340.00 price target on shares of FleetCor Technologies in a report on Monday, July 8th. SunTrust Banks lifted their price target on shares of FleetCor Technologies to $320.00 and gave the stock a buy rating in a report on Thursday, June 13th. Morgan Stanley lowered shares of FleetCor Technologies from an overweight rating to an equal weight rating and lifted their price target for the stock from $240.00 to $284.00 in a report on Thursday, July 11th. Finally, Bank of America assumed coverage on shares of FleetCor Technologies in a report on Monday, June 3rd. They issued a neutral rating and a $275.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. FleetCor Technologies has a consensus rating of Buy and an average price target of $275.87.

Shares of FLT stock opened at $288.95 on Monday. The firm has a market cap of $24.78 billion, a price-to-earnings ratio of 27.55, a PEG ratio of 1.65 and a beta of 1.13. The company’s 50 day moving average is $291.39 and its 200 day moving average is $267.78. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.70. FleetCor Technologies has a 52-week low of $172.18 and a 52-week high of $304.65.



FleetCor Technologies (NYSE:FLT) last issued its quarterly earnings data on Tuesday, August 6th. The business services provider reported $2.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.64 by $0.05. FleetCor Technologies had a net margin of 35.29% and a return on equity of 26.37%. The company had revenue of $647.09 million for the quarter, compared to analyst estimates of $633.95 million. During the same period last year, the company posted $2.57 earnings per share. FleetCor Technologies’s revenue was up 10.6% compared to the same quarter last year. Analysts anticipate that FleetCor Technologies will post 11.15 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in FLT. Dimensional Fund Advisors LP grew its holdings in shares of FleetCor Technologies by 13.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 479,476 shares of the business services provider’s stock valued at $89,046,000 after buying an additional 56,571 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of FleetCor Technologies by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 1,099,152 shares of the business services provider’s stock valued at $203,758,000 after buying an additional 58,255 shares during the last quarter. Quantamental Technologies LLC purchased a new stake in shares of FleetCor Technologies during the first quarter valued at $25,000. Candriam Luxembourg S.C.A. grew its holdings in shares of FleetCor Technologies by 9.6% during the first quarter. Candriam Luxembourg S.C.A. now owns 5,402 shares of the business services provider’s stock valued at $1,332,000 after buying an additional 473 shares during the last quarter. Finally, State Treasurer State of Michigan grew its holdings in shares of FleetCor Technologies by 221.2% during the first quarter. State Treasurer State of Michigan now owns 110,800 shares of the business services provider’s stock valued at $27,322,000 after buying an additional 76,300 shares during the last quarter. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

FleetCor Technologies Company Profile

FleetCor Technologies, Inc provides commercial payment solutions in North America, Latin America, Europe, and Australasia. The company offers fuel payment solutions to businesses and government entities that operate vehicle fleets, as well as to oil and leasing companies, and fuel marketers. Its fuel payment products are in the form of plastic cards, electronic RFID tags, and paper vouchers to purchase fuel, oil, vehicle maintenance supplies and services, and building supplies.

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Analyst Recommendations for FleetCor Technologies (NYSE:FLT)

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