Citigroup Cuts FleetCor Technologies (NYSE:FLT) Price Target to $255.00

FleetCor Technologies (NYSE:FLT) had its target price trimmed by Citigroup from $275.00 to $255.00 in a research report released on Tuesday, BenzingaRatingsTable reports. The firm currently has a neutral rating on the business services provider’s stock.

FLT has been the subject of a number of other reports. Morgan Stanley upped their price target on shares of FleetCor Technologies from $265.00 to $275.00 and gave the company an equal weight rating in a report on Friday, July 24th. Jefferies Financial Group upgraded shares of FleetCor Technologies from a hold rating to a buy rating and upped their price target for the company from $248.00 to $300.00 in a report on Thursday, July 9th. Credit Suisse Group decreased their price target on shares of FleetCor Technologies from $255.00 to $250.00 and set a neutral rating for the company in a report on Monday. Oppenheimer began coverage on shares of FleetCor Technologies in a research note on Thursday, May 7th. They issued a buy rating and a $335.00 target price for the company. Finally, Susquehanna Bancshares began coverage on shares of FleetCor Technologies in a research note on Wednesday, July 15th. They issued a positive rating and a $310.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the stock. FleetCor Technologies presently has a consensus rating of Buy and a consensus price target of $288.32.

NYSE:FLT traded up $4.94 during trading hours on Tuesday, reaching $239.57. The company’s stock had a trading volume of 22,718 shares, compared to its average volume of 972,275. The company has a market cap of $20.04 billion, a price-to-earnings ratio of 27.91, a price-to-earnings-growth ratio of 1.92 and a beta of 1.47. FleetCor Technologies has a one year low of $168.51 and a one year high of $329.85. The business’s 50-day moving average is $254.55 and its 200-day moving average is $253.15. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.96 and a quick ratio of 0.93.

FleetCor Technologies (NYSE:FLT) last issued its quarterly earnings data on Thursday, August 6th. The business services provider reported $2.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.17 by $0.11. FleetCor Technologies had a net margin of 29.88% and a return on equity of 29.52%. The firm had revenue of $525.15 million during the quarter, compared to analysts’ expectations of $527.51 million. During the same period in the prior year, the company posted $2.85 earnings per share. FleetCor Technologies’s revenue for the quarter was down 18.8% on a year-over-year basis. On average, sell-side analysts predict that FleetCor Technologies will post 10.19 EPS for the current fiscal year.

In other news, insider Alexey Gavrilenya sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $279.91, for a total transaction of $1,399,550.00. Following the completion of the sale, the insider now owns 7,661 shares of the company’s stock, valued at $2,144,390.51. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 6.60% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rosenberg Matthew Hamilton acquired a new stake in shares of FleetCor Technologies during the second quarter worth approximately $34,000. Bessemer Group Inc. grew its stake in shares of FleetCor Technologies by 33.5% during the first quarter. Bessemer Group Inc. now owns 251 shares of the business services provider’s stock valued at $47,000 after purchasing an additional 63 shares during the last quarter. Pinz Capital Management LP bought a new stake in shares of FleetCor Technologies during the first quarter valued at approximately $47,000. Signaturefd LLC grew its stake in shares of FleetCor Technologies by 56.7% during the second quarter. Signaturefd LLC now owns 199 shares of the business services provider’s stock valued at $50,000 after purchasing an additional 72 shares during the last quarter. Finally, Parallel Advisors LLC grew its stake in shares of FleetCor Technologies by 36.2% during the first quarter. Parallel Advisors LLC now owns 320 shares of the business services provider’s stock valued at $59,000 after purchasing an additional 85 shares during the last quarter. 91.36% of the stock is owned by institutional investors.

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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Analyst Recommendations for FleetCor Technologies (NYSE:FLT)

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