FLEETCOR Technologies (NYSE:FLT) Earns Buy Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of FLEETCOR Technologies (NYSE:FLT) in a research report report published on Friday. The firm issued a buy rating on the business services provider’s stock.

A number of other research analysts have also recently weighed in on the stock. Jefferies Financial Group lifted their target price on shares of FLEETCOR Technologies from $325.00 to $330.00 and gave the company a buy rating in a research note on Wednesday, January 17th. UBS Group boosted their price target on shares of FLEETCOR Technologies from $280.00 to $285.00 and gave the stock a neutral rating in a research note on Wednesday, February 14th. BMO Capital Markets decreased their price target on shares of FLEETCOR Technologies from $340.00 to $330.00 and set an outperform rating on the stock in a research note on Wednesday, February 14th. William Blair reiterated an outperform rating on shares of FLEETCOR Technologies in a research note on Thursday, February 8th. Finally, Mizuho boosted their price target on shares of FLEETCOR Technologies from $235.00 to $265.00 and gave the stock a neutral rating in a research note on Thursday, January 18th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, FLEETCOR Technologies has an average rating of Moderate Buy and a consensus price target of $299.67.

FLEETCOR Technologies Stock Performance

The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.04 and a current ratio of 1.04. FLEETCOR Technologies has a one year low of $194.60 and a one year high of $309.39. The company’s fifty day moving average price is $287.25 and its two-hundred day moving average price is $267.25. The stock has a market cap of $21.90 billion, a PE ratio of 22.97, a price-to-earnings-growth ratio of 1.15 and a beta of 1.22.

FLEETCOR Technologies (NYSE:FLT) last released its earnings results on Wednesday, February 7th. The business services provider reported $4.44 earnings per share for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.04). FLEETCOR Technologies had a net margin of 26.13% and a return on equity of 37.56%. The firm had revenue of $937.32 million for the quarter, compared to analysts’ expectations of $967.01 million. During the same quarter last year, the firm posted $3.83 EPS. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts predict that FLEETCOR Technologies will post 18.2 earnings per share for the current year.

Insider Activity at FLEETCOR Technologies

In related news, CEO Ronald Clarke sold 118,428 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $281.84, for a total transaction of $33,377,747.52. Following the transaction, the chief executive officer now directly owns 2,023,491 shares in the company, valued at approximately $570,300,703.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other FLEETCOR Technologies news, CEO Ronald Clarke sold 118,428 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $281.84, for a total value of $33,377,747.52. Following the transaction, the chief executive officer now directly owns 2,023,491 shares in the company, valued at approximately $570,300,703.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Alissa B. Vickery sold 2,794 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $290.31, for a total transaction of $811,126.14. Following the completion of the transaction, the chief accounting officer now owns 1,885 shares in the company, valued at $547,234.35. The disclosure for this sale can be found here. 6.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On FLEETCOR Technologies

A number of hedge funds have recently added to or reduced their stakes in FLT. Blue Trust Inc. grew its stake in FLEETCOR Technologies by 208.8% in the 4th quarter. Blue Trust Inc. now owns 105 shares of the business services provider’s stock worth $27,000 after acquiring an additional 71 shares in the last quarter. Covestor Ltd lifted its position in shares of FLEETCOR Technologies by 253.1% in the 1st quarter. Covestor Ltd now owns 113 shares of the business services provider’s stock worth $28,000 after purchasing an additional 81 shares during the period. Sunbelt Securities Inc. purchased a new stake in shares of FLEETCOR Technologies in the 1st quarter worth approximately $28,000. Fred Alger Management LLC lifted its position in FLEETCOR Technologies by 102.4% during the third quarter. Fred Alger Management LLC now owns 170 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 86 shares during the last quarter. Finally, Clear Street Markets LLC lifted its position in FLEETCOR Technologies by 93.3% during the first quarter. Clear Street Markets LLC now owns 145 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 70 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors.

FLEETCOR Technologies Company Profile

FLEETCOR Technologies, Inc operates as a payments company that helps businesses and consumers manage vehicle-related expenses, lodging expenses, and corporate payments in the United States, Brazil, the United Kingdom, and internationally. It operates through Vehicle Payments, Corporate Payments, Lodging Payments, and Other segments.