FleetCor Technologies (FLT) PT Raised to $232.00
FleetCor Technologies (NYSE:FLT) had its price objective upped by analysts at Morgan Stanley from $194.00 to $232.00 in a research report issued on Thursday. The firm currently has an “overweight” rating on the business services provider’s stock. Morgan Stanley’s target price would suggest a potential upside of 11.63% from the company’s current price.
FLT has been the subject of a number of other research reports. Zacks Investment Research raised FleetCor Technologies from a “hold” rating to a “buy” rating and set a $228.00 target price for the company in a report on Wednesday, January 17th. Barclays raised their target price on FleetCor Technologies from $180.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, November 2nd. SunTrust Banks set a $180.00 price target on FleetCor Technologies and gave the company a “buy” rating in a research report on Tuesday, October 24th. Deutsche Bank raised their price target on FleetCor Technologies from $185.00 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, December 5th. Finally, Credit Suisse Group raised their price target on FleetCor Technologies from $186.00 to $206.00 and gave the company a “neutral” rating in a research report on Wednesday, January 17th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. FleetCor Technologies has a consensus rating of “Buy” and a consensus price target of $198.36.
FleetCor Technologies (FLT) traded down $1.02 during trading on Thursday, reaching $207.83. The company’s stock had a trading volume of 317,600 shares, compared to its average volume of 544,706. FleetCor Technologies has a 12 month low of $121.52 and a 12 month high of $210.58. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $18,610.00, a P/E ratio of 35.35, a P/E/G ratio of 1.40 and a beta of 1.53.
In related news, insider Kurt Patrick Adams sold 7,099 shares of FleetCor Technologies stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $170.00, for a total transaction of $1,206,830.00. Following the completion of the sale, the insider now owns 9,246 shares in the company, valued at approximately $1,571,820. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 4.60% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc increased its position in FleetCor Technologies by 20.5% during the 4th quarter. IFP Advisors Inc now owns 2,964 shares of the business services provider’s stock worth $570,000 after purchasing an additional 504 shares in the last quarter. SG Americas Securities LLC purchased a new stake in FleetCor Technologies during the 4th quarter worth about $216,000. First American Bank purchased a new stake in FleetCor Technologies during the 4th quarter worth about $228,000. Hennessy Advisors Inc. purchased a new stake in FleetCor Technologies during the 4th quarter worth about $847,000. Finally, Strs Ohio increased its position in FleetCor Technologies by 129.1% during the 4th quarter. Strs Ohio now owns 2,719 shares of the business services provider’s stock worth $523,000 after purchasing an additional 1,532 shares in the last quarter. Hedge funds and other institutional investors own 95.17% of the company’s stock.
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About FleetCor Technologies
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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