FleetCor Technologies (NYSE:FLT)‘s stock had its “buy” rating reiterated by research analysts at Morgan Stanley in a report released on Wednesday, MarketBeat.com reports. They currently have a $235.00 target price on the business services provider’s stock, up from their prior target price of $232.00. Morgan Stanley’s price target would indicate a potential upside of 13.04% from the stock’s current price.
Other equities research analysts also recently issued research reports about the company. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $236.00 price objective on shares of FleetCor Technologies in a research report on Thursday, February 8th. Zacks Investment Research upgraded FleetCor Technologies from a “hold” rating to a “buy” rating and set a $228.00 price objective for the company in a research report on Thursday, February 8th. SunTrust Banks set a $240.00 price objective on FleetCor Technologies and gave the company a “buy” rating in a research report on Monday, February 5th. Deutsche Bank increased their target price on FleetCor Technologies from $185.00 to $225.00 and gave the company a “buy” rating in a report on Tuesday, December 5th. Finally, Wells Fargo & Co set a $225.00 target price on FleetCor Technologies and gave the company a “buy” rating in a report on Wednesday, January 10th. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $209.43.
Shares of FleetCor Technologies (NYSE:FLT) opened at $207.90 on Wednesday. FleetCor Technologies has a 52-week low of $121.52 and a 52-week high of $213.74. The company has a market capitalization of $18,662.28, a price-to-earnings ratio of 26.22, a PEG ratio of 1.31 and a beta of 1.52. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.87 and a current ratio of 0.87.
Several institutional investors and hedge funds have recently added to or reduced their stakes in FLT. Crossmark Global Holdings Inc. purchased a new stake in shares of FleetCor Technologies in the third quarter valued at $380,000. Canada Pension Plan Investment Board increased its stake in shares of FleetCor Technologies by 1,777.9% in the third quarter. Canada Pension Plan Investment Board now owns 25,013 shares of the business services provider’s stock worth $3,871,000 after acquiring an additional 23,681 shares during the last quarter. FDx Advisors Inc. increased its stake in shares of FleetCor Technologies by 5.9% in the third quarter. FDx Advisors Inc. now owns 8,568 shares of the business services provider’s stock worth $1,326,000 after acquiring an additional 480 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of FleetCor Technologies by 2.1% in the third quarter. New York State Common Retirement Fund now owns 206,500 shares of the business services provider’s stock worth $31,960,000 after acquiring an additional 4,300 shares during the last quarter. Finally, Toronto Dominion Bank increased its stake in shares of FleetCor Technologies by 245.4% in the third quarter. Toronto Dominion Bank now owns 3,896 shares of the business services provider’s stock worth $603,000 after acquiring an additional 2,768 shares during the last quarter. Institutional investors own 94.36% of the company’s stock.
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FleetCor Technologies Company Profile
FleetCor Technologies, Inc is a provider of workforce payment products. The Company offers fuel card payments product solutions, corporate payments products, toll products, lodging cards and gift cards. The Company operates through two segments: North America and International. Its products are sold to businesses, retailers, oil companies and marketers and government entities.
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