FLEETCOR Technologies (NYSE:FLT – Get Rating) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
Other research analysts have also issued research reports about the company. Raymond James raised FLEETCOR Technologies from a “market perform” rating to an “outperform” rating and set a $254.00 price objective for the company in a research report on Tuesday, March 21st. Wells Fargo & Company raised their price objective on FLEETCOR Technologies from $240.00 to $245.00 in a research report on Thursday, May 4th. TheStreet raised FLEETCOR Technologies from a “c+” rating to a “b-” rating in a research report on Friday, April 14th. Mizuho raised their price objective on FLEETCOR Technologies from $220.00 to $230.00 in a research report on Monday, May 8th. Finally, Barclays raised their price objective on FLEETCOR Technologies from $245.00 to $270.00 in a research report on Sunday, May 7th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $241.50.
FLEETCOR Technologies Trading Down 0.3 %
NYSE FLT opened at $243.63 on Tuesday. FLEETCOR Technologies has a fifty-two week low of $161.69 and a fifty-two week high of $246.95. The stock has a market cap of $17.99 billion, a P/E ratio of 19.41, a price-to-earnings-growth ratio of 1.26 and a beta of 1.20. The stock has a 50 day simple moving average of $227.54 and a two-hundred day simple moving average of $208.95. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.03 and a current ratio of 1.03.
FLEETCOR Technologies (NYSE:FLT – Get Rating) last announced its earnings results on Wednesday, May 3rd. The business services provider reported $3.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.69 by $0.11. FLEETCOR Technologies had a return on equity of 44.25% and a net margin of 26.88%. The firm had revenue of $901.30 million during the quarter, compared to analyst estimates of $881.03 million. During the same quarter in the prior year, the company earned $3.35 EPS. The business’s revenue was up 14.2% compared to the same quarter last year. On average, analysts forecast that FLEETCOR Technologies will post 15.88 earnings per share for the current year.
Hedge Funds Weigh In On FLEETCOR Technologies
Several institutional investors and hedge funds have recently bought and sold shares of FLT. Covestor Ltd increased its holdings in shares of FLEETCOR Technologies by 253.1% in the first quarter. Covestor Ltd now owns 113 shares of the business services provider’s stock worth $28,000 after purchasing an additional 81 shares during the last quarter. Sunbelt Securities Inc. bought a new position in FLEETCOR Technologies in the first quarter worth approximately $28,000. BOKF NA bought a new position in FLEETCOR Technologies in the first quarter worth approximately $29,000. Fred Alger Management LLC increased its position in shares of FLEETCOR Technologies by 102.4% during the third quarter. Fred Alger Management LLC now owns 170 shares of the business services provider’s stock worth $30,000 after purchasing an additional 86 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its position in shares of FLEETCOR Technologies by 88.3% during the first quarter. Massmutual Trust Co. FSB ADV now owns 145 shares of the business services provider’s stock worth $31,000 after purchasing an additional 68 shares in the last quarter. 93.87% of the stock is currently owned by hedge funds and other institutional investors.
About FLEETCOR Technologies
FLEETCOR Technologies, Inc engages in the provision of digital payment solutions that enables businesses to control purchases and make payments. It operates through the following geographical segments: North America, International, and Brazil. The company was founded by William Boatner Reily III and Ronald F.