FleetCor Technologies (NYSE:FLT) Hits New 12-Month High at $315.13

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FleetCor Technologies, Inc. (NYSE:FLT)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $315.13 and last traded at $312.12, with a volume of 11618 shares trading hands. The stock had previously closed at $306.92.

A number of equities research analysts recently issued reports on FLT shares. Barclays set a $340.00 price target on FleetCor Technologies and gave the stock a “buy” rating in a research report on Monday, August 12th. Raymond James assumed coverage on shares of FleetCor Technologies in a research report on Monday, September 30th. They set a “market perform” rating and a $314.00 price objective for the company. SunTrust Banks reiterated a “buy” rating and set a $345.00 price objective (up from $320.00) on shares of FleetCor Technologies in a research note on Thursday, October 10th. ValuEngine lowered shares of FleetCor Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Robert W. Baird boosted their price objective on shares of FleetCor Technologies from $302.00 to $316.00 and gave the company a “neutral” rating in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $282.82.

The firm has a fifty day simple moving average of $296.87 and a 200-day simple moving average of $287.04. The firm has a market cap of $26.63 billion, a P/E ratio of 30.80, a price-to-earnings-growth ratio of 1.76 and a beta of 1.12. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.12 and a quick ratio of 1.12.

FleetCor Technologies (NYSE:FLT) last released its quarterly earnings data on Wednesday, November 6th. The business services provider reported $3.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.90 by $0.20. FleetCor Technologies had a return on equity of 26.81% and a net margin of 37.08%. The firm had revenue of $681.00 million during the quarter, compared to the consensus estimate of $679.68 million. During the same quarter in the previous year, the company posted $2.68 earnings per share. The company’s quarterly revenue was up 9.9% on a year-over-year basis. On average, equities analysts predict that FleetCor Technologies, Inc. will post 11.22 earnings per share for the current year.

In other FleetCor Technologies news, insider Garnsey Colette purchased 1,250 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were acquired at an average cost of $40.66 per share, for a total transaction of $50,825.00. Also, insider Eales John purchased 2,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were acquired at an average price of $39.79 per share, for a total transaction of $79,572.00. Corporate insiders own 5.70% of the company’s stock.

Several institutional investors have recently made changes to their positions in FLT. Highstreet Asset Management Inc. purchased a new position in FleetCor Technologies in the second quarter valued at about $786,000. BB&T Securities LLC increased its position in FleetCor Technologies by 34.7% in the second quarter. BB&T Securities LLC now owns 5,113 shares of the business services provider’s stock worth $1,435,000 after buying an additional 1,316 shares during the last quarter. Morgan Stanley increased its position in FleetCor Technologies by 3.8% in the second quarter. Morgan Stanley now owns 89,183 shares of the business services provider’s stock worth $25,047,000 after buying an additional 3,254 shares during the last quarter. First Trust Advisors LP increased its position in FleetCor Technologies by 9.9% in the third quarter. First Trust Advisors LP now owns 293,885 shares of the business services provider’s stock worth $84,280,000 after buying an additional 26,472 shares during the last quarter. Finally, Impala Asset Management LLC bought a new stake in shares of FleetCor Technologies in the second quarter valued at $2,120,000. 93.46% of the stock is owned by hedge funds and other institutional investors.

FleetCor Technologies Company Profile (NYSE:FLT)

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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