FLEETCOR Technologies (NYSE:FLT) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of FLEETCOR Technologies (NYSE:FLT – Get Rating) in a research note released on Thursday. The firm issued a hold rating on the business services provider’s stock.

Other analysts have also recently issued reports about the company. Morgan Stanley boosted their price objective on FLEETCOR Technologies from $188.00 to $205.00 and gave the stock an equal weight rating in a report on Thursday, February 9th. Truist Financial upped their price target on FLEETCOR Technologies from $225.00 to $245.00 and gave the company a buy rating in a research note on Friday, January 20th. Wells Fargo & Company upped their price target on FLEETCOR Technologies from $225.00 to $240.00 and gave the company an overweight rating in a research note on Thursday, February 9th. Credit Suisse Group upped their price target on FLEETCOR Technologies from $220.00 to $230.00 and gave the company a neutral rating in a research note on Friday, February 10th. Finally, Robert W. Baird raised FLEETCOR Technologies from a neutral rating to an outperform rating and upped their price target for the company from $235.00 to $254.00 in a research note on Friday, February 10th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $249.50.

FLEETCOR Technologies Stock Performance

Shares of NYSE:FLT opened at $187.20 on Thursday. The stock has a market capitalization of $13.76 billion, a P/E ratio of 15.07, a P/E/G ratio of 1.01 and a beta of 1.20. FLEETCOR Technologies has a 1-year low of $161.69 and a 1-year high of $265.30. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.86. The business has a 50-day moving average price of $204.22 and a two-hundred day moving average price of $193.40.

FLEETCOR Technologies (NYSE:FLT – Get Rating) last announced its quarterly earnings data on Wednesday, February 8th. The business services provider reported $4.04 earnings per share for the quarter, topping the consensus estimate of $3.93 by $0.11. The firm had revenue of $883.60 million during the quarter, compared to analysts’ expectations of $874.44 million. FLEETCOR Technologies had a return on equity of 44.21% and a net margin of 27.85%. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the business posted $3.47 EPS. Equities analysts predict that FLEETCOR Technologies will post 15.78 earnings per share for the current year.

Institutional Trading of FLEETCOR Technologies

Large investors have recently bought and sold shares of the business. Covestor Ltd increased its stake in FLEETCOR Technologies by 253.1% during the 1st quarter. Covestor Ltd now owns 113 shares of the business services provider’s stock worth $28,000 after purchasing an additional 81 shares in the last quarter. Fred Alger Management LLC boosted its position in FLEETCOR Technologies by 102.4% during the 3rd quarter. Fred Alger Management LLC now owns 170 shares of the business services provider’s stock worth $30,000 after acquiring an additional 86 shares during the last quarter. Lazard Asset Management LLC acquired a new position in FLEETCOR Technologies during the 1st quarter worth approximately $35,000. CI Investments Inc. boosted its position in FLEETCOR Technologies by 97.0% during the 4th quarter. CI Investments Inc. now owns 197 shares of the business services provider’s stock worth $36,000 after acquiring an additional 97 shares during the last quarter. Finally, Oakworth Capital Inc. boosted its position in FLEETCOR Technologies by 952.4% during the 3rd quarter. Oakworth Capital Inc. now owns 221 shares of the business services provider’s stock worth $39,000 after acquiring an additional 200 shares during the last quarter. 90.49% of the stock is owned by institutional investors.

About FLEETCOR Technologies

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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.