BTIG Research Reaffirms Buy Rating for FleetCor Technologies (NYSE:FLT)

BTIG Research restated their buy rating on shares of FleetCor Technologies (NYSE:FLT) in a research note published on Monday morning, The Fly reports. The brokerage currently has a $340.00 price objective on the business services provider’s stock.

A number of other analysts have also recently issued reports on the company. Bank of America reissued a buy rating and issued a $25.00 target price on shares of Infineon Technologies in a research report on Monday, June 3rd. Citigroup set a $68.00 target price on Colgate-Palmolive and gave the company a hold rating in a research report on Tuesday, March 19th. Goldman Sachs Group cut to a sell rating and set a GBX 270 ($3.53) target price for the company. in a research report on Wednesday, June 5th. Deutsche Bank reissued a buy rating and issued a GBX 430 ($5.62) target price on shares of in a research report on Friday, June 21st. Finally, SunTrust Banks upped their target price on Camden Property Trust to $108.00 and gave the company a buy rating in a research report on Thursday, June 13th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $260.14.

NYSE:FLT opened at $293.39 on Monday. The business’s 50-day simple moving average is $273.13. The firm has a market cap of $25.19 billion, a PE ratio of 29.55, a P/E/G ratio of 1.71 and a beta of 1.16. FleetCor Technologies has a 1 year low of $172.18 and a 1 year high of $296.79. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.77.

FleetCor Technologies (NYSE:FLT) last released its quarterly earnings data on Tuesday, May 7th. The business services provider reported $2.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.46 by $0.10. The business had revenue of $621.80 million during the quarter, compared to analysts’ expectations of $608.40 million. FleetCor Technologies had a return on equity of 26.56% and a net margin of 32.74%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.50 EPS. As a group, research analysts forecast that FleetCor Technologies will post 11.12 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. National Pension Service lifted its position in FleetCor Technologies by 5.3% during the 4th quarter. National Pension Service now owns 101,534 shares of the business services provider’s stock worth $22,388,000 after acquiring an additional 5,089 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in FleetCor Technologies by 3.7% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,019 shares of the business services provider’s stock worth $1,238,000 after acquiring an additional 181 shares during the period. Centric Wealth Management acquired a new stake in FleetCor Technologies during the 4th quarter worth approximately $202,000. Bayesian Capital Management LP lifted its position in FleetCor Technologies by 488.7% during the 1st quarter. Bayesian Capital Management LP now owns 9,873 shares of the business services provider’s stock worth $2,435,000 after acquiring an additional 8,196 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its position in FleetCor Technologies by 17.9% during the 1st quarter. CIBC Private Wealth Group LLC now owns 416,461 shares of the business services provider’s stock worth $102,695,000 after acquiring an additional 63,167 shares during the period. 93.69% of the stock is 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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