Published On: Mon, Sep 19th, 2016

FleetCor Technologies Inc. (FLT) Price Target Raised to $186.00 at Monness Crespi & Hardt

FleetCor Technologies Inc. (NYSE:FLT) had its price target increased by analysts at Monness Crespi & Hardt from $173.00 to $186.00 in a research note issued on Monday. The brokerage presently has a “buy” rating on the stock. Monness Crespi & Hardt’s price target would indicate a potential upside of 13.06% from the stock’s previous close.
Several other equities research analysts also recently commented on FLT. JPMorgan Chase & Co. reissued a “hold” rating on shares of FleetCor Technologies in a research report on Monday, June 6th. SunTrust Banks Inc. began coverage on shares of FleetCor Technologies in a research report on Friday, June 24th. They issued a “buy” rating and a $175.00 price objective for the company. Zacks Investment Research raised shares of FleetCor Technologies from a “hold” rating to a “buy” rating and set a $169.00 price objective for the company in a research report on Monday, July 25th. Oppenheimer Holdings Inc. raised shares of FleetCor Technologies from a “market perform” rating to an “outperform” rating and set a $180.00 price objective for the company in a research report on Friday, August 5th. Finally, Barclays PLC upped their price objective on shares of FleetCor Technologies from $160.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, August 5th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $168.00.
FleetCor Technologies (NYSE:FLT) opened at 164.51 on Monday. The stock’s 50 day moving average is $162.71 and its 200 day moving average is $150.89. FleetCor Technologies has a one year low of $107.56 and a one year high of $169.59. The company has a market capitalization of $15.23 billion, a PE ratio of 39.44 and a beta of 1.25.

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FleetCor Technologies (NYSE:FLT) last posted its earnings results on Thursday, August 4th. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.54 by $0.02. The company earned $417.90 million during the quarter, compared to the consensus estimate of $415.20 million. FleetCor Technologies had a net margin of 22.97% and a return on equity of 18.16%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.48 earnings per share. On average, analysts anticipate that FleetCor Technologies will post $6.85 earnings per share for the current fiscal year.
In related news, EVP Charles Richard Freund sold 21,969 shares of the company’s stock in a transaction that occurred on Tuesday, July 12th. The shares were sold at an average price of $149.00, for a total transaction of $3,273,381.00. Following the sale, the executive vice president now owns 30,663 shares of the company’s stock, valued at approximately $4,568,787. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Todd House sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $163.00, for a total transaction of $1,304,000.00. Following the sale, the insider now directly owns 19,637 shares in the company, valued at approximately $3,200,831. The disclosure for this sale can be found here. Corporate insiders own 4.30% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in FleetCor Technologies by 3.5% in the second quarter. Vanguard Group Inc. now owns 6,299,355 shares of the company’s stock worth $901,627,000 after buying an additional 215,417 shares during the period. Winslow Capital Management LLC raised its stake in FleetCor Technologies by 39.0% in the second quarter. Winslow Capital Management LLC now owns 2,582,730 shares of the company’s stock worth $369,666,000 after buying an additional 724,391 shares during the period. Massachusetts Financial Services Co. MA raised its stake in FleetCor Technologies by 9.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,521,864 shares of the company’s stock worth $360,954,000 after buying an additional 215,827 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in FleetCor Technologies by 2.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,084,109 shares of the company’s stock worth $298,299,000 after buying an additional 57,361 shares during the period. Finally, FMR LLC raised its stake in FleetCor Technologies by 3.3% in the second quarter. FMR LLC now owns 1,845,270 shares of the company’s stock worth $264,114,000 after buying an additional 58,518 shares during the period. 92.16% of the stock is currently owned by institutional investors and hedge funds.
About FleetCor Technologies
FleetCor Technologies, Inc is an independent global provider of fuel cards, commercial payment and data solutions, stored value solutions, and workforce payment products and services to businesses, retailers, commercial fleets, oil companies, petroleum marketers and government entities in countries throughout North America, Latin America, Europe, Australia and New Zealand.

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