The price of FLEETCOR Technologies Inc. (NYSE:FLT) shares last traded on Wall Street fell -1.12% to $183.68.
Based on available information, 20 analysts follow FLEETCOR Technologies Inc. (NYSE:FLT). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $266.00 and a low of $188.00, we find $225.50. Given the previous closing price of $185.76, this indicates a potential upside of 21.39 percent. FLT stock price is now -0.60% away from the 50-day moving average and -14.08% away from the 200-day moving average. The market capitalization of the company currently stands at $13.70B.
Among analysts, 7 rate the stock a hold while 10 rate it a buy. Brokers who have rated the stock have averaged $226.74 as their price target over the next twelve months.
With the price target reduced from $278 to $203, BofA Securities Downgraded its rating from Buy to Neutral for FLEETCOR Technologies Inc. (NYSE: FLT)., while ‘Wells Fargo’ rates the stock as ‘Overweight’.
In other news, King Alan, Group President, Global Fleet sold 1,379 shares of the company’s stock on Sep 12. The stock was sold for $308,037 at an average price of $223.38. Upon completion of the transaction, the Group President, Global Fleet now directly owns 9,250 shares in the company, valued at $1.7 million. Insiders disposed of 146,264 shares of company stock worth roughly $26.87 million over the past 1 year. A total of 2.70% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in FLT stock. A new stake in FLEETCOR Technologies Inc. shares was purchased by T. ROWE PRICE INVESTMENT MANAGEMENT, INC. during the first quarter worth $648,202,000. PARSIFAL CAPITAL MANAGEMENT, LP invested $39,729,000 in shares of FLT during the first quarter. In the first quarter, ALUA CAPITAL MANAGEMENT LP acquired a new stake in FLEETCOR Technologies Inc. valued at approximately $26,320,000. PRANA CAPITAL MANAGEMENT, LP acquired a new stake in FLT for approximately $9,786,000. BRANDYWINE GLOBAL INVESTMENT MANAGEMENT, LLC purchased a new stake in FLT valued at around $7,557,000 in the second quarter. In total, there are 824 active investors with 93.90% ownership of the company’s stock.
A candlestick chart of FLEETCOR Technologies Inc. (NYSE: FLT) showed a price of $183.60 on Friday morning. During the past 12 months, FLEETCOR Technologies Inc. has had a low of $161.69 and a high of $265.30. As of last week, the company has a debt-to-equity ratio of 3.24, a current ratio of 1.00, and a quick ratio of 1.00. The fifty day moving average price for FLT is $185.12 and a two-hundred day moving average price translates $213.52 for the stock.
The latest earnings results from FLEETCOR Technologies Inc. (NYSE: FLT) was released for Jun, 2022. According to the Information Technology Services Company, earnings per share came in at $4.17, beating analysts’ expectations of $3.82 by 0.35. This compares to $2.80 EPS in the same period last year. The net profit margin was 28.50% and return on equity was 35.70% for FLT. The company reported revenue of $893.0 million for the quarter, compared to $755.48 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 18.2 percent. For the current quarter, analysts expect FLT to generate $880.09M in revenue.
FLEETCOR Technologies Inc.(FLT) Company Profile
FLEETCOR Technologies, Inc. provides digital payment solutions for businesses to control purchases and make payments. 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. The company also provides employee expense management solutions, including fuel solutions to businesses and government entities that operate vehicle fleets, as well as to oil and leasing companies, and fuel marketers; lodging solutions to businesses that have employees who travel overnight for work purposes, as well as to airlines and cruise lines to accommodate traveling crews and stranded passengers; and electronic toll payments solutions to businesses and consumers in the form of radio frequency identification tags affixed to vehicles’ windshields. In addition, it offers gift card program management and processing services in plastic and digital forms that include card design, production and packaging, delivery and fulfillment, card and account management, transaction processing, promotion development and management, website design and hosting, program analytics, and card distribution channel management. Further, it provides other products consisting of payroll cards, vehicle maintenance service solution, long-haul transportation solution, prepaid food vouchers or cards, and prepaid transportation cards and vouchers. The company serves business, merchant, consumer, and payment network customers in North America, Brazil, and Internationally. The company was founded in 1986 and is headquartered in Atlanta, Georgia.