FleetCor Technologies (NYSE:FLT) Now Covered by Analysts at Barclays
Equities research analysts at Barclays initiated coverage on shares of FleetCor Technologies (NYSE:FLT) in a research report issued to clients and investors on Wednesday, November 14th, The Fly reports. The brokerage set an “overweight” rating and a $245.00 price target on the business services provider’s stock. Barclays’ price target would indicate a potential upside of 31.07% from the stock’s previous close.
A number of other brokerages have also issued reports on FLT. Deutsche Bank reiterated a “buy” rating on shares of FleetCor Technologies in a report on Thursday, September 27th. Zacks Investment Research lowered FleetCor Technologies from a “buy” rating to a “sell” rating in a report on Wednesday, October 3rd. Morgan Stanley boosted their price target on FleetCor Technologies from $238.00 to $240.00 and gave the company a “buy” rating in a report on Friday, August 3rd. Citigroup boosted their price target on FleetCor Technologies from $240.00 to $260.00 and gave the company a “buy” rating in a report on Friday, July 20th. Finally, Wolfe Research started coverage on shares of FleetCor Technologies in a research note on Tuesday, July 17th. They issued an “outperform” rating for the company. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $237.11.
Shares of NYSE:FLT traded down $2.03 during trading hours on Wednesday, hitting $186.93. 662,620 shares of the company’s stock traded hands, compared to its average volume of 679,076. FleetCor Technologies has a 1 year low of $180.15 and a 1 year high of $230.24. The firm has a market capitalization of $23.21 billion, a PE ratio of 23.72, a price-to-earnings-growth ratio of 1.16 and a beta of 1.49. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.92 and a quick ratio of 0.92.
Several hedge funds have recently modified their holdings of FLT. Principal Financial Group Inc. increased its position in shares of FleetCor Technologies by 14.5% during the first quarter. Principal Financial Group Inc. now owns 14,700 shares of the business services provider’s stock worth $2,976,000 after purchasing an additional 1,864 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of FleetCor Technologies by 53.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 14,430 shares of the business services provider’s stock valued at $3,038,000 after acquiring an additional 5,030 shares during the period. Xact Kapitalforvaltning AB increased its position in shares of FleetCor Technologies by 15.8% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 23,155 shares of the business services provider’s stock valued at $4,878,000 after acquiring an additional 3,153 shares during the period. Bank of Montreal Can acquired a new position in shares of FleetCor Technologies in the 2nd quarter valued at $13,784,000. Finally, Retirement Systems of Alabama acquired a new position in shares of FleetCor Technologies in the 2nd quarter valued at $8,927,000. 68.73% of the stock is currently 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.
Further Reading: Debt-To-Equity Ratio
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