FLEETCOR Technologies (NYSE:FLT) Receives New Coverage from Analysts at StockNews.com

StockNews.com assumed coverage on shares of FLEETCOR Technologies (NYSE:FLT) in a research note published on Friday. The brokerage issued a buy rating on the business services provider’s stock.

A number of other equities research analysts also recently weighed in on the company. BMO Capital Markets lowered their target price on FLEETCOR Technologies from $340.00 to $330.00 and set an outperform rating for the company in a report on Wednesday, February 14th. JPMorgan Chase & Co. lifted their target price on FLEETCOR Technologies from $285.00 to $337.00 and gave the stock an overweight rating in a report on Thursday, February 8th. Mizuho lifted their target price on FLEETCOR Technologies from $235.00 to $265.00 and gave the stock a neutral rating in a report on Thursday, January 18th. Royal Bank of Canada lifted their target price on FLEETCOR Technologies from $270.00 to $302.00 and gave the stock a sector perform rating in a report on Thursday, February 8th. Finally, Robert W. Baird upgraded FLEETCOR Technologies from a neutral rating to an outperform rating and boosted their price objective for the company from $325.00 to $330.00 in a report on Monday, March 4th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, FLEETCOR Technologies has a consensus rating of Moderate Buy and an average target price of $299.67.

FLEETCOR Technologies Price Performance

The business has a 50 day moving average of $287.25 and a 200 day moving average of $267.25. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market capitalization of $21.90 billion, a price-to-earnings ratio of 22.97, a P/E/G ratio of 1.15 and a beta of 1.22. FLEETCOR Technologies has a 12 month low of $194.60 and a 12 month high of $309.39.

FLEETCOR Technologies (NYSE:FLT) last posted its quarterly earnings data on Wednesday, February 7th. The business services provider reported $4.44 EPS for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.04). The company had revenue of $937.32 million during the quarter, compared to analyst estimates of $967.01 million. FLEETCOR Technologies had a return on equity of 37.56% and a net margin of 26.13%. FLEETCOR Technologies’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.83 earnings per share. Equities analysts anticipate that FLEETCOR Technologies will post 18.2 earnings per share for the current fiscal year.

Insider Activity at FLEETCOR Technologies

In other FLEETCOR Technologies news, CEO Ronald Clarke sold 118,428 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $281.84, for a total value of $33,377,747.52. Following the transaction, the chief executive officer now owns 2,023,491 shares of the company’s stock, valued at $570,300,703.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CAO Alissa B. Vickery sold 2,794 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $290.31, for a total transaction of $811,126.14. Following the transaction, the chief accounting officer now owns 1,885 shares of the company’s stock, valued at approximately $547,234.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ronald Clarke sold 118,428 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $281.84, for a total value of $33,377,747.52. Following the transaction, the chief executive officer now directly owns 2,023,491 shares in the company, valued at approximately $570,300,703.44. The disclosure for this sale can be found here. 6.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Blue Trust Inc. lifted its position in shares of FLEETCOR Technologies by 208.8% during the 4th quarter. Blue Trust Inc. now owns 105 shares of the business services provider’s stock valued at $27,000 after buying an additional 71 shares during the last quarter. Covestor Ltd raised its stake in shares of FLEETCOR Technologies by 253.1% during the 1st quarter. Covestor Ltd now owns 113 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 81 shares during the period. Itau Unibanco Holding S.A. bought a new stake in shares of FLEETCOR Technologies during the 2nd quarter valued at $33,000. Sunbelt Securities Inc. bought a new stake in shares of FLEETCOR Technologies during the 1st quarter valued at $28,000. Finally, Lazard Asset Management LLC bought a new stake in shares of FLEETCOR Technologies during the 1st quarter valued at $35,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

About FLEETCOR Technologies

FLEETCOR Technologies, Inc operates as a payments company that helps businesses and consumers manage vehicle-related expenses, lodging expenses, and corporate payments in the United States, Brazil, the United Kingdom, and internationally. It operates through Vehicle Payments, Corporate Payments, Lodging Payments, and Other segments.