FLEETCOR Technologies’ (FLT) “Outperform” Rating Reaffirmed at William Blair

William Blair reissued their outperform rating on shares of FLEETCOR Technologies (NYSE:FLTFree Report) in a research report released on Thursday morning, RTT News reports.

A number of other research analysts also recently commented on the stock. BMO Capital Markets began coverage on shares of FLEETCOR Technologies in a research note on Tuesday, December 5th. They set an outperform rating and a $300.00 price objective on the stock. Morgan Stanley reduced their price target on shares of FLEETCOR Technologies from $244.00 to $240.00 and set an equal weight rating on the stock in a research report on Thursday, November 9th. Jefferies Financial Group boosted their price objective on FLEETCOR Technologies from $325.00 to $330.00 and gave the company a buy rating in a report on Wednesday, January 17th. Raymond James increased their target price on FLEETCOR Technologies from $277.00 to $281.00 and gave the stock an outperform rating in a report on Friday, November 10th. Finally, Royal Bank of Canada boosted their price target on FLEETCOR Technologies from $270.00 to $302.00 and gave the company a sector perform rating in a report on Thursday. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, FLEETCOR Technologies has an average rating of Moderate Buy and an average price target of $292.19.

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FLEETCOR Technologies Stock Performance

Shares of FLT stock opened at $265.12 on Thursday. FLEETCOR Technologies has a 12 month low of $185.04 and a 12 month high of $298.48. The firm has a market capitalization of $19.14 billion, a P/E ratio of 20.08, a P/E/G ratio of 1.34 and a beta of 1.26. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.02 and a quick ratio of 1.02. The company’s fifty day moving average price is $278.45 and its two-hundred day moving average price is $261.14.

FLEETCOR Technologies (NYSE:FLTGet Free Report) last released its quarterly earnings results on Wednesday, February 7th. The business services provider reported $4.44 EPS for the quarter, missing the consensus estimate of $4.48 by ($0.04). FLEETCOR Technologies had a return on equity of 38.22% and a net margin of 26.13%. The business had revenue of $937.32 million during the quarter, compared to analyst estimates of $967.01 million. During the same quarter last year, the firm posted $3.83 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. On average, research analysts anticipate that FLEETCOR Technologies will post 17.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FLEETCOR Technologies

A number of hedge funds have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. raised its stake in FLEETCOR Technologies by 15.7% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 1,504 shares of the business services provider’s stock valued at $375,000 after acquiring an additional 204 shares in the last quarter. American Century Companies Inc. lifted its holdings in FLEETCOR Technologies by 15.9% in the first quarter. American Century Companies Inc. now owns 2,798 shares of the business services provider’s stock worth $697,000 after purchasing an additional 384 shares during the period. Cambridge Investment Research Advisors Inc. bought a new position in FLEETCOR Technologies in the 1st quarter valued at about $219,000. HighTower Advisors LLC increased its stake in FLEETCOR Technologies by 9.5% during the 1st quarter. HighTower Advisors LLC now owns 4,524 shares of the business services provider’s stock valued at $1,119,000 after buying an additional 392 shares during the period. Finally, Private Advisor Group LLC raised its position in shares of FLEETCOR Technologies by 123.0% during the 1st quarter. Private Advisor Group LLC now owns 2,355 shares of the business services provider’s stock worth $586,000 after buying an additional 1,299 shares in the last quarter. Institutional investors own 94.93% of the company’s stock.

FLEETCOR Technologies Company Profile

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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.

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Analyst Recommendations for FLEETCOR Technologies (NYSE:FLT)

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