FLEETCOR Technologies, Inc. (NYSE:FLT) Receives Average Rating of “Moderate Buy” from Brokerages

FLEETCOR Technologies, Inc. (NYSE:FLT – Get Rating) has been given an average recommendation of “Moderate Buy” by the sixteen brokerages that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $253.07.

A number of analysts have recently issued reports on FLT shares. TheStreet upgraded shares of FLEETCOR Technologies from a “c+” rating to a “b-” rating in a research note on Friday, April 14th. Wells Fargo & Company raised their target price on shares of FLEETCOR Technologies from $240.00 to $245.00 in a research note on Thursday, May 4th. Bank of America upgraded shares of FLEETCOR Technologies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $208.00 to $240.00 in a research note on Tuesday, January 31st. Credit Suisse Group raised their target price on shares of FLEETCOR Technologies from $220.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, February 10th. Finally, Jefferies Financial Group raised their price target on shares of FLEETCOR Technologies from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, April 14th.

FLEETCOR Technologies Stock Performance

Shares of FLT stock opened at $232.46 on Thursday. The stock has a market cap of $17.16 billion, a P/E ratio of 18.52, a P/E/G ratio of 1.23 and a beta of 1.20. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.03 and a quick ratio of 1.03. The company has a fifty day moving average price of $215.84 and a two-hundred day moving average price of $202.99. FLEETCOR Technologies has a one year low of $161.69 and a one year high of $251.61.

FLEETCOR Technologies (NYSE:FLT – Get Rating) last announced its quarterly earnings results on Wednesday, May 3rd. The business services provider reported $3.80 EPS for the quarter, beating analysts’ consensus estimates of $3.69 by $0.11. The firm had revenue of $901.30 million during the quarter, compared to analysts’ expectations of $881.03 million. FLEETCOR Technologies had a net margin of 26.88% and a return on equity of 44.25%. The company’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter last year, the company posted $3.35 earnings per share. As a group, equities analysts predict that FLEETCOR Technologies will post 15.9 EPS for the current year.

Hedge Funds Weigh In On FLEETCOR Technologies

Several hedge funds have recently bought and sold shares of FLT. Covestor Ltd increased its holdings in FLEETCOR Technologies by 253.1% in the 1st quarter. Covestor Ltd now owns 113 shares of the business services provider’s stock valued at $28,000 after buying an additional 81 shares during the period. Sunbelt Securities Inc. bought a new stake in shares of FLEETCOR Technologies during the 1st quarter valued at approximately $28,000. BOKF NA bought a new stake in shares of FLEETCOR Technologies during the 1st quarter valued at approximately $29,000. Fred Alger Management LLC grew its holdings in shares of FLEETCOR Technologies by 102.4% during the 3rd quarter. Fred Alger Management LLC now owns 170 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 86 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its holdings in shares of FLEETCOR Technologies by 88.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 145 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 68 shares during the last quarter. 90.49% of the stock is owned by institutional investors.

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.