FLEETCOR Technologies (NYSE:FLT – Get Rating) had its target price reduced by Royal Bank of Canada from $265.00 to $226.00 in a research report report published on Thursday, Benzinga reports. They currently have a sector perform rating on the business services provider's stock.
A number of other analysts have also recently weighed in on the stock. Truist Financial decreased their price target on shares of FLEETCOR Technologies from $275.00 to $225.00 and set a buy rating for the company in a research report on Thursday, October 13th. Wells Fargo & Company cut their price objective on shares of FLEETCOR Technologies from $298.00 to $274.00 and set an overweight rating on the stock in a report on Thursday, September 8th. Bank of America lowered shares of FLEETCOR Technologies from a buy rating to a neutral rating and cut their price objective for the stock from $278.00 to $203.00 in a report on Thursday, October 20th. Morgan Stanley cut their price objective on shares of FLEETCOR Technologies from $196.00 to $188.00 and set an equal weight rating on the stock in a report on Thursday. Finally, Barclays cut their price objective on shares of FLEETCOR Technologies from $295.00 to $290.00 and set an overweight rating on the stock in a report on Thursday, September 15th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, FLEETCOR Technologies presently has a consensus rating of Hold and a consensus price target of $248.08.
Get FLEETCOR Technologies alerts:FLEETCOR Technologies Trading Up 2.3 %
FLT stock traded up $3.93 during midday trading on Thursday, hitting $178.13. The stock had a trading volume of 10,106 shares, compared to its average volume of 727,326. The firm has a market cap of $13.36 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 0.90 and a beta of 1.22. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.06 and a quick ratio of 1.06. FLEETCOR Technologies has a 12-month low of $161.69 and a 12-month high of $265.30. The company's 50-day moving average price is $190.38 and its 200 day moving average price is $215.86.
FLEETCOR Technologies (NYSE:FLT – Get Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The business services provider reported $3.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.57 by $0.25. FLEETCOR Technologies had a net margin of 29.27% and a return on equity of 38.86%. The company had revenue of $861.28 million during the quarter, compared to analysts' expectations of $819.94 million. On average, equities research analysts predict that FLEETCOR Technologies will post 14.69 earnings per share for the current fiscal year.Insiders Place Their Bets
In other FLEETCOR Technologies news, insider Alan King sold 1,379 shares of the company's stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $223.38, for a total value of $308,041.02. Following the completion of the transaction, the insider now owns 9,250 shares in the company, valued at approximately $2,066,265. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 6.60% of the stock is owned by insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC boosted its holdings in shares of FLEETCOR Technologies by 72.5% in the first quarter. CWM LLC now owns 709 shares of the business services provider's stock valued at $177,000 after acquiring an additional 298 shares in the last quarter. Mutual of America Capital Management LLC lifted its stake in FLEETCOR Technologies by 1.0% during the first quarter. Mutual of America Capital Management LLC now owns 10,837 shares of the business services provider's stock valued at $2,699,000 after purchasing an additional 112 shares during the last quarter. Truist Financial Corp lifted its stake in FLEETCOR Technologies by 18.0% during the first quarter. Truist Financial Corp now owns 5,674 shares of the business services provider's stock valued at $1,414,000 after purchasing an additional 867 shares during the last quarter. Martingale Asset Management L P acquired a new stake in FLEETCOR Technologies during the first quarter valued at approximately $447,000. Finally, Forsta AP Fonden lifted its stake in FLEETCOR Technologies by 27.7% during the first quarter. Forsta AP Fonden now owns 17,500 shares of the business services provider's stock valued at $4,359,000 after purchasing an additional 3,800 shares during the last quarter. 91.52% of the stock is currently owned by institutional investors.
FLEETCOR Technologies Company Profile
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FLEETCOR Technologies, Inc provides digital payment solutions for businesses to control purchases and make payments. It offers corporate payments solutions, such as accounts payable automation; Virtual Card, which provides a single-use card number for a specific amount usable within a defined timeframe; Cross-Border that is used by its customers to pay international vendors, foreign office and personnel expenses, capital expenditures, and profit repatriation and dividends; and purchasing cards and travel and entertainment cards for its customers to analyze and manage their corporate spending.
Further Reading
- Get a free copy of the StockNews.com research report on FLEETCOR Technologies (FLT)
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