Mizuho Raises FleetCor Technologies (FLT) Price Target to $247.00

Mizuho Raises FleetCor Technologies (FLT) Price Target to $247.00

FleetCor Technologies (NYSE:FLT) had its price objective boosted by Mizuho from $245.00 to $247.00 in a report published on Wednesday, BenzingaRatingsTable reports. The brokerage currently has a neutral rating on the business services provider’s stock.

Several other brokerages have also weighed in on FLT. Citigroup raised their price objective on shares of FleetCor Technologies from $235.00 to $280.00 and gave the company a buy rating in a research report on Tuesday, March 19th. BTIG Research initiated coverage on shares of FleetCor Technologies in a research report on Thursday, January 17th. They set a buy rating and a $253.00 price objective on the stock. Keefe, Bruyette & Woods reaffirmed a buy rating and set a $238.00 price objective on shares of FleetCor Technologies in a research report on Wednesday, February 20th. SunTrust Banks raised their price objective on shares of FleetCor Technologies from $240.00 to $260.00 and gave the company a buy rating in a research report on Tuesday, February 19th. Finally, ValuEngine raised shares of FleetCor Technologies from a hold rating to a buy rating in a research report on Friday, February 8th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. FleetCor Technologies currently has a consensus rating of Buy and an average price target of $255.33.

Shares of NYSE FLT traded down $0.67 during mid-day trading on Wednesday, reaching $265.52. The company had a trading volume of 22,195 shares, compared to its average volume of 567,413. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $22.22 billion, a price-to-earnings ratio of 26.74, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. FleetCor Technologies has a 12-month low of $172.18 and a 12-month high of $268.35.

FleetCor Technologies (NYSE:FLT) last posted its quarterly earnings results on Tuesday, May 7th. The business services provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.46 by $0.10. The business had revenue of $621.80 million during the quarter, compared to analyst estimates of $608.40 million. FleetCor Technologies had a net margin of 33.35% and a return on equity of 25.73%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.50 earnings per share. On average, analysts predict that FleetCor Technologies will post 11.03 EPS for the current year.

Large investors have recently added to or reduced their stakes in the company. National Pension Service raised its position in shares of FleetCor Technologies by 5.3% in the fourth quarter. National Pension Service now owns 101,534 shares of the business services provider’s stock valued at $22,388,000 after purchasing an additional 5,089 shares during the period. New York State Common Retirement Fund raised its position in shares of FleetCor Technologies by 0.4% in the fourth quarter. New York State Common Retirement Fund now owns 186,951 shares of the business services provider’s stock valued at $34,721,000 after purchasing an additional 691 shares during the period. Northern Trust Corp raised its position in shares of FleetCor Technologies by 5.2% in the fourth quarter. Northern Trust Corp now owns 961,363 shares of the business services provider’s stock valued at $178,545,000 after purchasing an additional 47,704 shares during the period. Contravisory Investment Management Inc. bought a new position in shares of FleetCor Technologies in the fourth quarter valued at approximately $3,250,000. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its position in shares of FleetCor Technologies by 16.5% in the fourth quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 7,156 shares of the business services provider’s stock valued at $1,328,000 after purchasing an additional 1,013 shares during the period. 94.44% of the stock is currently 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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