Morgan Stanley Lowers FleetCor Technologies (NYSE:FLT) to Equal Weight

Share on StockTwits

Morgan Stanley lowered shares of FleetCor Technologies (NYSE:FLT) from an overweight rating to an equal weight rating in a research report report published on Thursday morning, BenzingaRatingsTable reports. Morgan Stanley currently has $284.00 price target on the business services provider’s stock, up from their prior price target of $240.00.

FLT has been the subject of several other reports. Citigroup set a $68.00 target price on shares of Colgate-Palmolive and gave the stock a hold rating in a report on Tuesday, March 19th. Zacks Investment Research cut shares of Glu Mobile from a buy rating to a hold rating in a report on Tuesday, April 9th. GMP Securities restated an average rating and set a $4.00 price target on shares of FleetCor Technologies in a report on Wednesday, June 5th. Mizuho set a $27.00 price target on shares of Horizon Therapeutics and gave the stock a hold rating in a report on Wednesday, May 8th. Finally, Deutsche Bank restated a buy rating and set a GBX 430 ($5.62) price target on shares of in a report on Friday, June 21st. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. FleetCor Technologies has an average rating of Buy and a consensus price target of $260.14.

Shares of FLT opened at $292.16 on Thursday. FleetCor Technologies has a one year low of $172.18 and a one year high of $296.79. The stock has a 50-day moving average price of $273.63. The firm has a market capitalization of $25.18 billion, a PE ratio of 28.90, a price-to-earnings-growth ratio of 1.71 and a beta of 1.16. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.91 and a current ratio of 0.91.

FleetCor Technologies (NYSE:FLT) last announced its earnings results on Tuesday, May 7th. The business services provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.46 by $0.10. FleetCor Technologies had a net margin of 32.74% and a return on equity of 26.56%. The company had revenue of $621.80 million during the quarter, compared to analysts’ expectations of $608.40 million. During the same period last year, the company posted $2.50 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, sell-side analysts forecast that FleetCor Technologies will post 11.12 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. increased its position in shares of FleetCor Technologies by 26.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,464 shares of the business services provider’s stock worth $644,000 after purchasing an additional 720 shares in the last quarter. Commonwealth Equity Services LLC increased its position in shares of FleetCor Technologies by 1.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 2,977 shares of the business services provider’s stock worth $552,000 after purchasing an additional 56 shares in the last quarter. Advisor Group Inc. increased its position in shares of FleetCor Technologies by 4.4% during the fourth quarter. Advisor Group Inc. now owns 5,676 shares of the business services provider’s stock worth $1,055,000 after purchasing an additional 237 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of FleetCor Technologies by 12.7% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 22,263 shares of the business services provider’s stock worth $4,135,000 after purchasing an additional 2,515 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of FleetCor Technologies by 13.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 479,476 shares of the business services provider’s stock worth $89,046,000 after purchasing an additional 56,571 shares in the last quarter. Hedge funds and other institutional investors own 93.69% of the company’s stock.

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.

Further Reading: What are the advantages of the Stochastic Momentum Index?

Analyst Recommendations for FleetCor Technologies (NYSE:FLT)

Receive News & Ratings for FleetCor Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FleetCor Technologies and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

ChannelAdvisor  Downgraded by Zacks Investment Research
ChannelAdvisor Downgraded by Zacks Investment Research
$0.29 EPS Expected for F.N.B. Corp  This Quarter
$0.29 EPS Expected for F.N.B. Corp This Quarter
VOLVO AB/ADR  Receives $17.00 Consensus Price Target from Analysts
VOLVO AB/ADR Receives $17.00 Consensus Price Target from Analysts
LatiumX  Market Cap Achieves $338,307.00
LatiumX Market Cap Achieves $338,307.00
Brokerages Set B2Gold Corp.  Target Price at C$5.43
Brokerages Set B2Gold Corp. Target Price at C$5.43
GoPower Hits 1-Day Trading Volume of $4,179.00
GoPower Hits 1-Day Trading Volume of $4,179.00


 
© 2006-2019 Zolmax.