FleetCor Technologies (NYSE:FLT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

According to Zacks, “FleetCor is a leading independent global provider of fuel cards, commercial payment and data solutions, lodging and transportation management services, stored value solutions, and workforce payment products and services to businesses, retailers, commercial fleets, major oil companies, petroleum marketers and government entities in countries throughout North America, Latin America, Europe, Australia and New Zealand. They also provide a suite of fleet related and workforce payment solution products, including mobile telematics services, fleet maintenance management and employee benefit and transportation related payments. “

A number of other analysts also recently issued reports on the company. Goldman Sachs Group downgraded FleetCor Technologies from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $245.00 to $215.00 in a report on Tuesday, December 11th. Barclays started coverage on FleetCor Technologies in a report on Wednesday, November 14th. They set an “overweight” rating and a $245.00 price target for the company. Deutsche Bank reaffirmed a “buy” rating on shares of FleetCor Technologies in a report on Thursday, September 27th. ValuEngine downgraded FleetCor Technologies from a “buy” rating to a “hold” rating in a report on Friday, November 2nd. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $214.00 price target on shares of FleetCor Technologies in a report on Monday, January 7th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. FleetCor Technologies currently has an average rating of “Buy” and an average price target of $233.36.

Shares of NYSE FLT opened at $197.00 on Thursday. The stock has a market cap of $24.36 billion, a price-to-earnings ratio of 25.00, a price-to-earnings-growth ratio of 1.10 and a beta of 1.35. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.78. FleetCor Technologies has a 1 year low of $172.18 and a 1 year high of $230.24.

FleetCor Technologies (NYSE:FLT) last announced its quarterly earnings results on Tuesday, October 30th. The business services provider reported $2.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.66 by $0.02. The company had revenue of $619.60 million during the quarter, compared to the consensus estimate of $609.75 million. FleetCor Technologies had a return on equity of 24.22% and a net margin of 33.01%. FleetCor Technologies’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.18 EPS. On average, equities research analysts expect that FleetCor Technologies will post 9.85 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of FLT. Federated Investors Inc. PA lifted its holdings in shares of FleetCor Technologies by 19,028.6% in the 2nd quarter. Federated Investors Inc. PA now owns 1,339 shares of the business services provider’s stock valued at $282,000 after purchasing an additional 1,332 shares during the last quarter. Bank of Nova Scotia purchased a new stake in shares of FleetCor Technologies in the 2nd quarter valued at about $2,065,000. Schroder Investment Management Group lifted its holdings in shares of FleetCor Technologies by 18.4% in the 2nd quarter. Schroder Investment Management Group now owns 127,400 shares of the business services provider’s stock valued at $26,871,000 after purchasing an additional 19,800 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of FleetCor Technologies by 146.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 892,986 shares of the business services provider’s stock valued at $188,107,000 after purchasing an additional 530,211 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of FleetCor Technologies by 76.7% in the 2nd quarter. Northern Trust Corp now owns 941,094 shares of the business services provider’s stock valued at $198,242,000 after purchasing an additional 408,595 shares during the last quarter. 68.61% of the stock is owned by institutional investors and hedge funds.

FleetCor Technologies Company Profile

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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