StockNews.com Begins Coverage on FLEETCOR Technologies (NYSE:FLT)

Equities research analysts at StockNews.com began coverage on shares of FLEETCOR Technologies (NYSE:FLT – Get Rating) in a research note issued to investors on Thursday. The brokerage set a “hold” rating on the business services provider’s stock.

FLT has been the subject of several other research reports. Barclays raised their target price on FLEETCOR Technologies from $235.00 to $245.00 and gave the company an “overweight” rating in a research note on Monday, February 13th. Morgan Stanley lifted their price objective on shares of FLEETCOR Technologies from $188.00 to $205.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 9th. Bank of America raised shares of FLEETCOR Technologies from a “neutral” rating to a “buy” rating and increased their target price for the company from $208.00 to $240.00 in a research note on Tuesday, January 31st. Truist Financial lifted their price target on shares of FLEETCOR Technologies from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, January 20th. Finally, Wells Fargo & Company increased their price objective on FLEETCOR Technologies from $225.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, February 9th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $249.50.

FLEETCOR Technologies Trading Down 2.5 %

NYSE:FLT opened at $189.22 on Thursday. FLEETCOR Technologies has a 1 year low of $161.69 and a 1 year high of $265.30. The stock has a market cap of $13.91 billion, a price-to-earnings ratio of 15.24, a PEG ratio of 1.03 and a beta of 1.20. The business has a fifty day moving average of $203.99 and a 200-day moving average of $193.79. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.01 and a current ratio of 1.01.

FLEETCOR Technologies (NYSE:FLT – Get Rating) last released its quarterly earnings results on Wednesday, February 8th. The business services provider reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.93 by $0.11. FLEETCOR Technologies had a return on equity of 44.21% and a net margin of 27.85%. The company had revenue of $883.60 million during the quarter, compared to analysts’ expectations of $874.44 million. During the same quarter in the prior year, the business posted $3.47 earnings per share. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. Equities analysts predict that FLEETCOR Technologies will post 15.78 earnings per share for the current year.

Institutional Trading of FLEETCOR Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the business. B. Riley Wealth Advisors Inc. boosted its holdings in shares of FLEETCOR Technologies by 43.9% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 4,116 shares of the business services provider’s stock worth $756,000 after purchasing an additional 1,256 shares during the period. Victory Capital Management Inc. grew its holdings in shares of FLEETCOR Technologies by 0.7% during the 4th quarter. Victory Capital Management Inc. now owns 174,149 shares of the business services provider’s stock valued at $31,988,000 after acquiring an additional 1,278 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in shares of FLEETCOR Technologies by 90.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 837 shares of the business services provider’s stock worth $152,000 after acquiring an additional 398 shares during the last quarter. Regal Investment Advisors LLC raised its holdings in shares of FLEETCOR Technologies by 35.2% during the fourth quarter. Regal Investment Advisors LLC now owns 1,560 shares of the business services provider’s stock worth $287,000 after acquiring an additional 406 shares in the last quarter. Finally, Natixis boosted its position in FLEETCOR Technologies by 54.3% during the fourth quarter. Natixis now owns 7,605 shares of the business services provider’s stock valued at $1,397,000 after purchasing an additional 2,676 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

About FLEETCOR Technologies

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FLEETCOR Technologies, Inc engages in the provision of digital payment solutions that enables businesses to control purchases and make payments. It operates through the following geographical segments: North America, International, and Brazil. The company was founded by William Boatner Reily III and Ronald F.