FLEETCOR Technologies (NYSE:FLT) Coverage Initiated by Analysts at StockNews.com

Investment analysts at StockNews.com began coverage on shares of FLEETCOR Technologies (NYSE:FLT) in a report issued on Friday. The firm set a “buy” rating on the business services provider’s stock.

Other analysts also recently issued reports about the stock. Royal Bank of Canada increased their price target on shares of FLEETCOR Technologies from $270.00 to $302.00 and gave the company a “sector perform” rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. boosted their price target on shares of FLEETCOR Technologies from $285.00 to $337.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Citigroup raised their price objective on FLEETCOR Technologies from $300.00 to $325.00 and gave the stock a “buy” rating in a research note on Friday, January 12th. Robert W. Baird raised FLEETCOR Technologies from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $325.00 to $330.00 in a research note on Monday, March 4th. Finally, TheStreet upgraded FLEETCOR Technologies from a “c+” rating to a “b-” rating in a report on Friday, January 12th. Four equities research 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 presently has an average rating of “Moderate Buy” and a consensus target price of $299.67.

FLEETCOR Technologies Price Performance

FLEETCOR Technologies has a twelve month low of $194.60 and a twelve month high of $309.39. 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 company has a debt-to-equity ratio of 1.40, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a fifty day simple moving average of $287.25 and a 200 day simple moving average of $267.25.

FLEETCOR Technologies (NYSE:FLT) last posted its quarterly earnings results 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 company had revenue of $937.32 million during the quarter, compared to analyst estimates of $967.01 million. During the same period last year, the company earned $3.83 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. Sell-side analysts expect that FLEETCOR Technologies will post 18.2 EPS for the current fiscal year.

Insider Buying and Selling at FLEETCOR Technologies

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

Hedge Funds Weigh In On FLEETCOR Technologies

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings 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 worth $2,148,025,000 after buying an additional 111,367 shares in the last quarter. BlackRock Inc. increased its holdings in FLEETCOR Technologies by 0.3% in the 1st quarter. BlackRock Inc. now owns 5,374,603 shares of the business services provider’s stock worth $1,133,235,000 after purchasing an additional 17,207 shares in the last quarter. JPMorgan Chase & Co. increased 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 purchasing an additional 152,349 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in FLEETCOR Technologies by 89.2% in the first 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 last quarter. Finally, State Street Corp boosted its stake 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 purchasing an additional 75,738 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

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.