Brokerages Set FleetCor Technologies, Inc. (FLT) Target Price at $238.30

Shares of FleetCor Technologies, Inc. (NYSE:FLT) have received an average recommendation of “Buy” from the thirteen brokerages that are presently covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $238.30.

A number of equities research analysts recently weighed in on the company. Citigroup boosted their price objective on FleetCor Technologies from $235.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Zacks Investment Research lowered FleetCor Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, February 27th. Keefe, Bruyette & Woods restated a “buy” rating and set a $238.00 price objective on shares of FleetCor Technologies in a research report on Wednesday, February 20th. Mizuho restated a “neutral” rating and set a $230.00 price objective on shares of FleetCor Technologies in a research report on Wednesday, February 20th. Finally, SunTrust Banks boosted their price objective on FleetCor Technologies from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, February 19th.

FLT stock traded up $3.01 during midday trading on Friday, reaching $246.59. 456,842 shares of the stock were exchanged, compared to its average volume of 626,469. The firm has a market capitalization of $20.79 billion, a P/E ratio of 24.83, a P/E/G ratio of 1.33 and a beta of 1.24. FleetCor Technologies has a 52 week low of $172.18 and a 52 week high of $246.81. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.82.

FleetCor Technologies (NYSE:FLT) last issued its quarterly earnings data on Wednesday, February 6th. The business services provider reported $2.64 earnings per share for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.08). The firm had revenue of $643.40 million for the quarter, compared to the consensus estimate of $620.45 million. FleetCor Technologies had a return on equity of 25.73% and a net margin of 33.35%. The company’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.42 EPS. As a group, equities research analysts expect that FleetCor Technologies will post 11.01 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in FLT. Capital Investment Advisory Services LLC acquired a new position in FleetCor Technologies during the 4th quarter worth about $25,000. Lindbrook Capital LLC acquired a new position in FleetCor Technologies during the 4th quarter worth about $28,000. Bronfman E.L. Rothschild L.P. lifted its holdings in FleetCor Technologies by 254.3% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 163 shares of the business services provider’s stock worth $30,000 after buying an additional 117 shares during the period. Executive Wealth Management LLC acquired a new position in FleetCor Technologies during the 4th quarter worth about $33,000. Finally, Kaizen Advisory LLC acquired a new position in FleetCor Technologies during the 4th quarter worth about $42,000. 95.55% of the stock is currently owned by hedge funds and other institutional investors.

About FleetCor Technologies

FleetCor Technologies, Inc provides commercial payment solutions in North America, Latin America, Europe, and Australasia. The company offers fuel payment solutions to businesses and government entities that operate vehicle fleets, as well as to oil and leasing companies, and fuel marketers. Its fuel payment products are in the form of plastic cards, electronic RFID tags, and paper vouchers to purchase fuel, oil, vehicle maintenance supplies and services, and building supplies.

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Analyst Recommendations for FleetCor Technologies (NYSE:FLT)

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