FLEETCOR Technologies (NYSE:FLT) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of FLEETCOR Technologies (NYSE:FLT) from a hold rating to a buy rating in a research report sent to investors on Friday morning.

Other research analysts have also recently issued research reports about the company. Raymond James raised their target price on FLEETCOR Technologies from $277.00 to $281.00 and gave the company an outperform rating in a research note on Friday, November 10th. Deutsche Bank Aktiengesellschaft decreased their price target on FLEETCOR Technologies from $310.00 to $300.00 and set a buy rating for the company in a research report on Wednesday, August 9th. Mizuho decreased their price target on FLEETCOR Technologies from $245.00 to $235.00 and set a neutral rating for the company in a research report on Tuesday, November 14th. Citigroup increased their price target on FLEETCOR Technologies from $285.00 to $300.00 and gave the company a buy rating in a research report on Wednesday, October 4th. Finally, Robert W. Baird downgraded FLEETCOR Technologies from an outperform rating to a neutral rating and increased their price objective for the stock from $275.00 to $302.00 in a research note on Wednesday, October 11th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, FLEETCOR Technologies currently has an average rating of Moderate Buy and an average target price of $282.27.

FLEETCOR Technologies Stock Performance

FLT stock opened at $235.30 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.52. The firm has a market cap of $16.99 billion, a P/E ratio of 18.45, a P/E/G ratio of 1.21 and a beta of 1.20. FLEETCOR Technologies has a 12-month low of $175.08 and a 12-month high of $278.35. The stock’s 50 day simple moving average is $248.04 and its 200 day simple moving average is $248.78.

FLEETCOR Technologies (NYSE:FLT) last issued its earnings results on Wednesday, November 8th. The business services provider reported $4.49 earnings per share for the quarter, topping the consensus estimate of $4.19 by $0.30. FLEETCOR Technologies had a return on equity of 39.20% and a net margin of 25.68%. The firm had revenue of $970.89 million for the quarter, compared to analyst estimates of $973.87 million. During the same period last year, the company earned $3.91 earnings per share. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, equities research analysts predict that FLEETCOR Technologies will post 15.75 EPS for the current year.

Hedge Funds Weigh In On FLEETCOR Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of FLT. Creative Planning lifted its stake in FLEETCOR Technologies by 13.3% in the third quarter. Creative Planning now owns 6,581 shares of the business services provider’s stock valued at $1,680,000 after buying an additional 770 shares during the period. GTS Securities LLC acquired a new position in FLEETCOR Technologies in the third quarter valued at about $225,000. Townsquare Capital LLC increased its holdings in shares of FLEETCOR Technologies by 9.5% in the third quarter. Townsquare Capital LLC now owns 7,963 shares of the business services provider’s stock worth $2,033,000 after acquiring an additional 688 shares in the last quarter. Toroso Investments LLC increased its holdings in shares of FLEETCOR Technologies by 1.6% in the third quarter. Toroso Investments LLC now owns 2,774 shares of the business services provider’s stock worth $708,000 after acquiring an additional 43 shares in the last quarter. Finally, iA Global Asset Management Inc. increased its holdings in shares of FLEETCOR Technologies by 54.6% in the third quarter. iA Global Asset Management Inc. now owns 4,889 shares of the business services provider’s stock worth $1,248,000 after acquiring an additional 1,726 shares in the last quarter. Institutional investors and hedge funds own 94.93% of the company’s stock.

About FLEETCOR Technologies

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.