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 report issued on Wednesday, April 11th. Zacks Investment Research currently has $224.00 price objective 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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FLT has been the topic of several other reports. Morgan Stanley raised their target price on shares of Fleetcor from $194.00 to $232.00 and gave the stock an overweight rating in a research report on Thursday, January 25th. Credit Suisse Group lifted their price target on shares of Fleetcor from $186.00 to $206.00 and gave the company a neutral rating in a research report on Wednesday, January 17th. Oppenheimer lifted their price objective 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. SunTrust Banks set a $240.00 price objective on shares of Fleetcor and gave the company a buy rating in a research note on Monday, February 5th. Finally, Keefe, Bruyette & Woods reiterated a buy rating and set a $236.00 price objective on shares of Fleetcor in a research note on Thursday, February 8th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $209.14.

NYSE:FLT opened at $208.95 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.79. Fleetcor has a twelve month low of $121.52 and a twelve month high of $213.74. The stock has a market cap of $18,832.02, a price-to-earnings ratio of 26.52, a price-to-earnings-growth ratio of 1.32 and a beta of 1.46.

Fleetcor (NYSE:FLT) last released its quarterly earnings results on Thursday, February 8th. The business services provider reported $2.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $610.00 million for the quarter, compared to analysts’ expectations of $605.87 million. During the same period last year, the company earned $1.90 EPS. The firm’s revenue for the quarter was up 18.4% compared to the same quarter last year. research analysts forecast that Fleetcor will post 9.6 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. First Personal Financial Services boosted its holdings in shares of Fleetcor by 31.4% during the fourth quarter. First Personal Financial Services now owns 1,020 shares of the business services provider’s stock valued at $196,000 after acquiring an additional 244 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Fleetcor by 2.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 15,400 shares of the business services provider’s stock worth $2,393,000 after purchasing an additional 300 shares during the period. Alliancebernstein L.P. lifted its holdings in Fleetcor by 0.6% in the fourth quarter. Alliancebernstein L.P. now owns 61,216 shares of the business services provider’s stock worth $11,780,000 after purchasing an additional 381 shares during the period. Gradient Investments LLC lifted its holdings in Fleetcor by 21.9% in the fourth quarter. Gradient Investments LLC now owns 2,668 shares of the business services provider’s stock worth $513,000 after purchasing an additional 479 shares during the period. Finally, Public Employees Retirement Association of Colorado lifted its holdings in Fleetcor by 2.8% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 17,940 shares of the business services provider’s stock worth $3,452,000 after purchasing an additional 484 shares during the period. 94.39% of the stock is owned by institutional investors.

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Fleetcor Company Profile

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