Fleetcor (FLT) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Fleetcor (NYSE:FLT) from a sell rating to a buy rating in a research report released on Wednesday. The brokerage currently has $224.00 price target on the business services provider’s stock.

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. “

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Several other analysts have also recently weighed in on FLT. Morgan Stanley reissued a buy rating and issued a $235.00 price target (up previously from $232.00) on shares of Fleetcor in a research note on Wednesday, March 14th. Wells Fargo set a $225.00 price target on shares of Fleetcor and gave the company a buy rating in a research note on Wednesday, January 10th. Keefe, Bruyette & Woods reissued a buy rating and issued a $236.00 price target on shares of Fleetcor in a research note on Thursday, February 8th. Credit Suisse Group increased their price target on shares of Fleetcor from $186.00 to $206.00 and gave the company a neutral rating in a research note on Wednesday, January 17th. Finally, Oppenheimer increased their price target on shares of Fleetcor from $194.00 to $247.00 and gave the company an outperform rating in a research note on Monday, February 5th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Fleetcor currently has an average rating of Buy and a consensus target price of $209.14.

Shares of NYSE FLT opened at $200.98 on Wednesday. Fleetcor has a 12-month low of $121.52 and a 12-month high of $213.74. The stock has a market cap of $18,022.84, a P/E ratio of 25.51, a price-to-earnings-growth ratio of 1.27 and a beta of 1.46. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.87 and a quick ratio of 0.87.

Fleetcor (NYSE:FLT) last posted its quarterly earnings results on Thursday, February 8th. The business services provider reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.09. Fleetcor had a net margin of 32.90% and a return on equity of 21.15%. The business had revenue of $610.00 million during the quarter, compared to analysts’ expectations of $605.87 million. During the same quarter in the prior year, the company posted $1.90 EPS. The business’s revenue for the quarter was up 18.4% on a year-over-year basis. equities analysts forecast that Fleetcor will post 9.6 earnings per share for the current year.

Several large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its position in shares of Fleetcor by 42.2% during the 4th quarter. BlackRock Inc. now owns 6,119,055 shares of the business services provider’s stock worth $1,177,491,000 after purchasing an additional 1,816,729 shares during the period. TimesSquare Capital Management LLC boosted its position in shares of Fleetcor by 13.8% during the 4th quarter. TimesSquare Capital Management LLC now owns 834,770 shares of the business services provider’s stock worth $160,635,000 after purchasing an additional 101,130 shares during the period. Montag & Caldwell LLC boosted its position in shares of Fleetcor by 62.2% during the 4th quarter. Montag & Caldwell LLC now owns 423,629 shares of the business services provider’s stock worth $81,519,000 after purchasing an additional 162,464 shares during the period. Atlantic Trust Group LLC boosted its position in shares of Fleetcor by 376.1% during the 3rd quarter. Atlantic Trust Group LLC now owns 381,740 shares of the business services provider’s stock worth $59,083,000 after purchasing an additional 301,558 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Fleetcor by 0.9% during the 4th quarter. Bank of New York Mellon Corp now owns 357,012 shares of the business services provider’s stock worth $68,700,000 after purchasing an additional 3,358 shares during the period. 94.36% of the stock is owned by hedge funds and other institutional investors.

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Fleetcor Company Profile

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