FLEETCOR Technologies, Inc. (NYSE:FLT) Given Consensus Rating of “Moderate Buy” by Analysts

FLEETCOR Technologies, Inc. (NYSE:FLT) has received a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $277.00.

A number of equities analysts recently commented on the stock. StockNews.com lowered shares of FLEETCOR Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday. Robert W. Baird raised their price objective on FLEETCOR Technologies from $256.00 to $275.00 in a research report on Wednesday, July 19th. Morgan Stanley raised their price objective on FLEETCOR Technologies from $243.00 to $244.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 9th. Mizuho raised their price objective on FLEETCOR Technologies from $230.00 to $245.00 in a research report on Wednesday, August 9th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of FLEETCOR Technologies from $310.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, August 9th.

Institutional Investors Weigh In On FLEETCOR Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the business. Portside Wealth Group LLC acquired a new position in shares of FLEETCOR Technologies in the 2nd quarter valued at $449,000. Virginia Retirement Systems ET AL acquired a new position in shares of FLEETCOR Technologies in the 2nd quarter worth approximately $4,782,000. Comerica Bank acquired a new position in shares of FLEETCOR Technologies in the 2nd quarter worth approximately $27,870,000. Nuveen Asset Management LLC raised its holdings in shares of FLEETCOR Technologies by 2.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 371,813 shares of the business services provider’s stock worth $93,355,000 after buying an additional 8,556 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of FLEETCOR Technologies by 7.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 286,243 shares of the business services provider’s stock worth $71,870,000 after buying an additional 19,089 shares in the last quarter. Institutional investors own 94.93% of the company’s stock.

FLEETCOR Technologies Trading Down 0.1 %

NYSE:FLT opened at $271.75 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.43. FLEETCOR Technologies has a 1-year low of $161.69 and a 1-year high of $275.66. The firm has a market capitalization of $20.11 billion, a price-to-earnings ratio of 21.92, a price-to-earnings-growth ratio of 1.39 and a beta of 1.20. The stock has a fifty day simple moving average of $259.22 and a 200 day simple moving average of $234.10.

FLEETCOR Technologies (NYSE:FLT) last posted its quarterly earnings data on Tuesday, August 8th. The business services provider reported $3.85 EPS for the quarter, missing analysts’ consensus estimates of $3.87 by ($0.02). FLEETCOR Technologies had a return on equity of 41.53% and a net margin of 25.61%. The firm had revenue of $948.17 million during the quarter, compared to analyst estimates of $945.21 million. Sell-side analysts forecast that FLEETCOR Technologies will post 15.83 earnings per share for the current year.

FLEETCOR Technologies Company Profile

FLEETCOR Technologies, Inc, a business payments company that helps businesses spend less by enabling them to manage their expense-related purchasing and vendor payments processes. 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.