FLEETCOR Technologies (NYSE:FLT – Free Report) had its target price hoisted by JPMorgan Chase & Co. from $285.00 to $337.00 in a research note issued to investors on Thursday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the business services provider’s stock.
A number of other analysts also recently issued reports on the company. Robert W. Baird lifted their price target on FLEETCOR Technologies from $302.00 to $315.00 and gave the stock a neutral rating in a report on Thursday, December 21st. Citigroup lifted their price target on FLEETCOR Technologies from $300.00 to $325.00 and gave the stock a buy rating in a report on Friday, January 12th. BMO Capital Markets started coverage on FLEETCOR Technologies in a report on Tuesday, December 5th. They set an outperform rating and a $300.00 price target for the company. Raymond James lifted their price target on FLEETCOR Technologies from $277.00 to $281.00 and gave the stock an outperform rating in a report on Friday, November 10th. Finally, StockNews.com downgraded FLEETCOR Technologies from a buy rating to a hold rating in a report on Thursday, February 1st. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, FLEETCOR Technologies currently has a consensus rating of Moderate Buy and an average price target of $296.33.
FLEETCOR Technologies Trading Up 3.1 %
FLEETCOR Technologies (NYSE:FLT – Get Free Report) last released its earnings results on Wednesday, February 7th. The business services provider reported $4.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.04). The company had revenue of $937.32 million during the quarter, compared to analysts’ expectations of $967.01 million. FLEETCOR Technologies had a net margin of 26.13% and a return on equity of 37.56%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the business posted $3.83 earnings per share. Sell-side analysts anticipate that FLEETCOR Technologies will post 17.83 earnings per share for the current fiscal year.
Hedge Funds Weigh In On FLEETCOR Technologies
Several institutional investors have recently added to or reduced their stakes in FLT. Vanguard Group Inc. increased its position in FLEETCOR Technologies by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 8,624,531 shares of the business services provider’s stock worth $2,148,025,000 after purchasing an additional 111,367 shares during the period. BlackRock Inc. increased its position in FLEETCOR Technologies by 0.3% during the 1st quarter. BlackRock Inc. now owns 5,374,603 shares of the business services provider’s stock worth $1,133,235,000 after purchasing an additional 17,207 shares during the period. JPMorgan Chase & Co. increased its position in FLEETCOR Technologies by 4.3% during the 1st quarter. JPMorgan Chase & Co. now owns 3,723,307 shares of the business services provider’s stock worth $785,058,000 after purchasing an additional 152,349 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of FLEETCOR Technologies by 89.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,290,599 shares of the business services provider’s stock worth $693,824,000 after acquiring an additional 1,551,830 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of FLEETCOR Technologies by 0.9% during the 2nd quarter. State Street Corp now owns 2,908,025 shares of the business services provider’s stock worth $730,147,000 after acquiring an additional 26,042 shares in the last quarter. Institutional investors and hedge funds own 94.93% of the company’s stock.
FLEETCOR Technologies Company Profile
FLEETCOR Technologies, Inc, a business payments company that helps businesses spend less by enabling them to manage their expense-related purchasing and vendor payments processes. It offers corporate payments solutions, such as accounts payable automation; Virtual Card, which provides a single-use card number for a specific amount usable within a defined timeframe; Cross-Border that is used by its customers to pay international vendors, foreign office and personnel expenses, capital expenditures, and profit repatriation and dividends; and purchasing cards and travel and entertainment cards for its customers to analyze and manage their corporate spending.
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