Barclays Trims FLEETCOR Technologies (NYSE:FLT) Target Price to $290.00

FLEETCOR Technologies (NYSE:FLTGet Rating) had its target price reduced by Barclays from $295.00 to $290.00 in a report released on Thursday, The Fly reports. They currently have an overweight rating on the business services provider’s stock.

FLT has been the subject of several other reports. Evercore ISI reaffirmed an outperform rating and set a $300.00 price objective on shares of FLEETCOR Technologies in a report on Thursday, June 2nd. TheStreet cut FLEETCOR Technologies from a b- rating to a c rating in a report on Thursday, May 26th. Wells Fargo & Company cut their price target on FLEETCOR Technologies from $298.00 to $274.00 and set an overweight rating for the company in a report on Thursday, September 8th. Citigroup boosted their price target on FLEETCOR Technologies from $335.00 to $345.00 and gave the stock a buy rating in a report on Thursday, June 9th. Finally, Mizuho boosted their price target on FLEETCOR Technologies from $250.00 to $256.00 and gave the stock a neutral rating in a report on Tuesday, August 9th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $282.11.

FLEETCOR Technologies Stock Performance

Shares of FLT stock opened at $202.56 on Thursday. The stock has a fifty day moving average price of $219.62 and a 200 day moving average price of $230.61. The stock has a market cap of $15.19 billion, a PE ratio of 17.40, a P/E/G ratio of 0.99 and a beta of 1.21. FLEETCOR Technologies has a 1 year low of $198.91 and a 1 year high of $282.02. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.06 and a current ratio of 1.06.

Insider Buying and Selling at FLEETCOR Technologies

In other FLEETCOR Technologies news, insider Alan King sold 1,379 shares of the business’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $223.38, for a total transaction of $308,041.02. Following the completion of the sale, the insider now owns 9,250 shares of the company’s stock, valued at $2,066,265. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On FLEETCOR Technologies

A number of institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. boosted its position in shares of FLEETCOR Technologies by 6.7% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,300 shares of the business services provider’s stock worth $291,000 after buying an additional 82 shares during the period. First Republic Investment Management Inc. boosted its position in shares of FLEETCOR Technologies by 34.8% in the fourth quarter. First Republic Investment Management Inc. now owns 1,050 shares of the business services provider’s stock worth $235,000 after buying an additional 271 shares during the period. Citigroup Inc. boosted its position in shares of FLEETCOR Technologies by 74.6% in the fourth quarter. Citigroup Inc. now owns 71,937 shares of the business services provider’s stock worth $16,103,000 after buying an additional 30,736 shares during the period. Private Advisor Group LLC boosted its position in shares of FLEETCOR Technologies by 5.3% in the fourth quarter. Private Advisor Group LLC now owns 1,056 shares of the business services provider’s stock worth $236,000 after buying an additional 53 shares during the period. Finally, abrdn plc boosted its holdings in FLEETCOR Technologies by 3.2% in the fourth quarter. abrdn plc now owns 27,036 shares of the business services provider’s stock valued at $6,052,000 after purchasing an additional 849 shares during the last quarter. Hedge funds and other institutional investors own 91.52% of the company’s stock.

FLEETCOR Technologies Company Profile

(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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