Published On: Sun, Sep 11th, 2016

Fleetmatics Group PLC (FLTX) Downgraded by Robert W. Baird

Fleetmatics Group PLC (NYSE:FLTX) was downgraded by stock analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a report released on Tuesday. They presently have a $60.00 target price on the stock, up from their prior target price of $52.00. Robert W. Baird’s price target would indicate a potential upside of 0.07% from the stock’s current price.
Other equities analysts have also issued research reports about the company. Stifel Nicolaus reduced their price objective on Fleetmatics Group PLC from $63.00 to $55.00 and set a “buy” rating on the stock in a research note on Thursday, May 5th. First Analysis lowered Fleetmatics Group PLC from an “overweight” rating to an “equal weight” rating in a research note on Monday, August 1st. TheStreet lowered Fleetmatics Group PLC from a “buy” rating to a “hold” rating in a research note on Wednesday, May 4th. William Blair downgraded Fleetmatics Group PLC from an “outperform” rating to a “market perform” rating and set a $60.00 target price for the company. in a research report on Monday, August 1st. Finally, Macquarie downgraded Fleetmatics Group PLC from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $60.00 to $41.00 in a research report on Monday, April 11th. Fourteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $53.15.
Shares of Fleetmatics Group PLC (NYSE:FLTX) remained flat at $59.96 during midday trading on Tuesday. The stock had a trading volume of 530,364 shares. Fleetmatics Group PLC has a 12-month low of $34.41 and a 12-month high of $62.86. The firm’s 50 day moving average price is $56.74 and its 200-day moving average price is $44.29. The firm has a market cap of $2.35 billion, a P/E ratio of 77.97 and a beta of 0.65.

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In other Fleetmatics Group PLC news, CFO Stephen J. Lifshatz sold 9,846 shares of the stock in a transaction dated Monday, June 20th. The stock was sold at an average price of $45.21, for a total value of $445,137.66. Following the completion of the sale, the chief financial officer now directly owns 146,214 shares in the company, valued at $6,610,334.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Stephen J. Lifshatz sold 8,000 shares of the stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $42.90, for a total value of $343,200.00. Following the completion of the sale, the chief financial officer now owns 128,368 shares of the company’s stock, valued at $5,506,987.20. The disclosure for this sale can be found here.
Other large investors have made changes to their positions in the company. BlackRock Inc. boosted its position in Fleetmatics Group PLC by 126.4% in the first quarter. BlackRock Inc. now owns 2,552 shares of the company’s stock valued at $104,000 after buying an additional 1,425 shares in the last quarter. Invictus RG boosted its position in Fleetmatics Group PLC by 359.6% in the first quarter. Invictus RG now owns 4,614 shares of the company’s stock valued at $188,000 after buying an additional 3,610 shares in the last quarter. Quadrature Capital Ltd purchased a new position in Fleetmatics Group PLC during the first quarter valued at $286,000. First Republic Investment Management Inc. boosted its position in Fleetmatics Group PLC by 43.8% in the first quarter. First Republic Investment Management Inc. now owns 7,279 shares of the company’s stock valued at $296,000 after buying an additional 2,217 shares in the last quarter. Finally, LaSalle Street Capital Management LLC boosted its position in Fleetmatics Group PLC by 1.6% in the second quarter. LaSalle Street Capital Management LLC now owns 9,940 shares of the company’s stock valued at $431,000 after buying an additional 152 shares in the last quarter.
Fleetmatics Group PLC Company Profile
Fleetmatics Group PLC is a holding company. The Company is a provider of mobile workforce solutions for service-based businesses of all sizes delivered as software-as-a-service (SaaS). It offers Web-based and mobile application solutions that provide fleet operators with access to vehicle location, fuel usage, speed and mileage and others into their mobile workforce.

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