FLEETCOR Technologies (NYSE:FLT) Earns Buy Rating from Analysts at StockNews.com

Equities researchers at StockNews.com assumed coverage on shares of FLEETCOR Technologies (NYSE:FLT) in a research report issued to clients and investors on Thursday. The firm set a “buy” rating on the business services provider’s stock.

Several other brokerages have also issued reports on FLT. Royal Bank of Canada raised their target price on FLEETCOR Technologies from $270.00 to $302.00 and gave the company a “sector perform” rating in a research report on Thursday, February 8th. UBS Group lifted their price target on shares of FLEETCOR Technologies from $280.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. JPMorgan Chase & Co. upped their price target on FLEETCOR Technologies from $285.00 to $337.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. TheStreet upgraded FLEETCOR Technologies from a “c+” rating to a “b-” rating in a research note on Friday, January 12th. Finally, William Blair restated an “outperform” rating on shares of FLEETCOR Technologies in a research note on Thursday, February 8th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $299.67.

FLEETCOR Technologies Stock Performance

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. The firm’s fifty day moving average is $287.25 and its 200-day moving average is $267.25. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.40. FLEETCOR Technologies has a fifty-two week low of $194.60 and a fifty-two week high of $309.39.

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

Insider Transactions at FLEETCOR Technologies

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

Institutional Investors Weigh In On FLEETCOR Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLT. Vanguard Group Inc. raised its stake in shares of FLEETCOR Technologies by 1.3% during the first quarter. Vanguard Group Inc. now owns 8,624,531 shares of the business services provider’s stock valued at $2,148,025,000 after acquiring an additional 111,367 shares during the last quarter. BlackRock Inc. raised its position in FLEETCOR Technologies by 0.3% during the 1st quarter. BlackRock Inc. now owns 5,374,603 shares of the business services provider’s stock valued at $1,133,235,000 after purchasing an additional 17,207 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in FLEETCOR Technologies by 4.3% in the 1st quarter. JPMorgan Chase & Co. now owns 3,723,307 shares of the business services provider’s stock worth $785,058,000 after buying an additional 152,349 shares during the period. Price T Rowe Associates Inc. MD increased its position in FLEETCOR Technologies by 89.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,290,599 shares of the business services provider’s stock valued at $693,824,000 after purchasing an additional 1,551,830 shares during the period. Finally, State Street Corp increased its position in shares of FLEETCOR Technologies by 2.7% during the first quarter. State Street Corp now owns 2,881,983 shares of the business services provider’s stock valued at $607,660,000 after buying an additional 75,738 shares during the period. 98.84% of the stock is currently owned by institutional investors.

FLEETCOR Technologies Company Profile

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.