FleetCor Technologies, Inc. (NYSE:FLT) had its target price hoisted by Citigroup Inc. from $180.00 to $200.00 in a report released on Thursday. The brokerage presently has a “buy” rating on the business services provider’s stock. Citigroup Inc.’s price objective would indicate a potential upside of 11.86% from the company’s previous close.

FLT has been the topic of several other research reports. William Blair reaffirmed an “outperform” rating on shares of FleetCor Technologies in a research note on Wednesday, July 12th. Zacks Investment Research lowered FleetCor Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. BidaskClub raised FleetCor Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. Keefe, Bruyette & Woods set a $202.00 price target on FleetCor Technologies and gave the company a “buy” rating in a research note on Monday, August 7th. Finally, Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $185.00 price target on shares of FleetCor Technologies in a research note on Tuesday, September 26th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. FleetCor Technologies has an average rating of “Buy” and an average target price of $184.23.

Shares of FleetCor Technologies (NYSE FLT) traded down $3.51 during trading on Thursday, hitting $178.80. The stock had a trading volume of 1,214,921 shares, compared to its average volume of 906,125. The firm has a market cap of $16,013.15, a price-to-earnings ratio of 24.19, a price-to-earnings-growth ratio of 1.31 and a beta of 1.50. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.84 and a current ratio of 0.84.

FleetCor Technologies (NYSE:FLT) last announced its quarterly earnings results on Wednesday, November 1st. The business services provider reported $2.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.14 by $0.04. FleetCor Technologies had a return on equity of 21.23% and a net margin of 25.66%. The business had revenue of $577.90 million for the quarter, compared to analyst estimates of $576.78 million. During the same quarter in the prior year, the company posted $1.92 EPS. The company’s quarterly revenue was up 19.3% on a year-over-year basis. research analysts forecast that FleetCor Technologies will post 7.74 earnings per share for the current year.

FleetCor Technologies declared that its board has initiated a stock buyback program on Thursday, August 3rd that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the business services provider to reacquire up to 1.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

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In related news, CEO Andrew Blazye sold 4,963 shares of the stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $145.00, for a total transaction of $719,635.00. Following the transaction, the chief executive officer now owns 27,287 shares of the company’s stock, valued at approximately $3,956,615. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 15,758 shares of company stock worth $2,274,115. 4.30% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of FLT. Capital Research Global Investors raised its position in FleetCor Technologies by 156.8% in the 2nd quarter. Capital Research Global Investors now owns 5,377,010 shares of the business services provider’s stock valued at $775,419,000 after purchasing an additional 3,283,010 shares in the last quarter. Steadfast Capital Management LP raised its position in FleetCor Technologies by 251.4% in the 2nd quarter. Steadfast Capital Management LP now owns 2,049,719 shares of the business services provider’s stock valued at $295,590,000 after purchasing an additional 1,466,464 shares in the last quarter. FMR LLC raised its position in FleetCor Technologies by 50.4% in the 2nd quarter. FMR LLC now owns 3,979,648 shares of the business services provider’s stock valued at $573,905,000 after purchasing an additional 1,334,164 shares in the last quarter. Tiger Global Management LLC raised its position in FleetCor Technologies by 62.8% in the 2nd quarter. Tiger Global Management LLC now owns 2,278,774 shares of the business services provider’s stock valued at $328,622,000 after purchasing an additional 879,049 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in FleetCor Technologies by 132.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,296,851 shares of the business services provider’s stock valued at $187,025,000 after purchasing an additional 737,854 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors.

About FleetCor Technologies

FleetCor Technologies, Inc is a provider of workforce payment products. The Company offers fuel card payments product solutions, corporate payments products, toll products, lodging cards and gift cards. The Company operates through two segments: North America and International. Its products are sold to businesses, retailers, oil companies and marketers and government entities.

Analyst Recommendations for FleetCor Technologies (NYSE:FLT)

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