SunTrust Banks Comments on FleetCor Technologies, Inc.’s FY2017 Earnings (FLT)

FleetCor Technologies, Inc. (NYSE:FLT) – Analysts at SunTrust Banks boosted their FY2017 earnings per share estimates for FleetCor Technologies in a research report issued on Monday. SunTrust Banks analyst O. Turner now expects that the business services provider will post earnings of $7.77 per share for the year, up from their previous forecast of $7.74. SunTrust Banks currently has a “Buy” rating and a $240.00 target price on the stock. SunTrust Banks also issued estimates for FleetCor Technologies’ Q2 2018 earnings at $2.30 EPS, Q3 2018 earnings at $2.44 EPS, Q4 2018 earnings at $2.43 EPS and FY2018 earnings at $9.29 EPS.

A number of other equities research analysts have also recently weighed in on FLT. Zacks Investment Research raised shares of FleetCor Technologies from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a research report on Monday, October 9th. Morgan Stanley boosted their price target on shares of FleetCor Technologies from $184.00 to $189.00 and gave the company an “overweight” rating in a research report on Wednesday, October 18th. Citigroup boosted their price target on shares of FleetCor Technologies from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. Oppenheimer boosted their price target on shares of FleetCor Technologies from $185.00 to $194.00 and gave the company an “outperform” rating in a research report on Thursday, November 2nd. Finally, Barclays boosted their price target on shares of FleetCor Technologies from $180.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, November 2nd. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $206.43.

FleetCor Technologies (NYSE:FLT) opened at $200.34 on Tuesday. FleetCor Technologies has a 12 month low of $121.52 and a 12 month high of $213.74. The company has a market cap of $18,624.85, a price-to-earnings ratio of 34.07, a P/E/G ratio of 1.37 and a beta of 1.52. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.84 and a current ratio of 0.84.

Large investors have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. raised its holdings in shares of FleetCor Technologies by 207.3% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 6,708 shares of the business services provider’s stock valued at $967,000 after buying an additional 4,525 shares during the last quarter. Davidson Kempner Capital Management LP purchased a new stake in shares of FleetCor Technologies in the third quarter valued at about $11,608,000. California Public Employees Retirement System raised its holdings in shares of FleetCor Technologies by 4.5% in the third quarter. California Public Employees Retirement System now owns 170,177 shares of the business services provider’s stock valued at $26,338,000 after buying an additional 7,377 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of FleetCor Technologies by 31.2% in the third quarter. Ameriprise Financial Inc. now owns 1,701,521 shares of the business services provider’s stock valued at $263,344,000 after buying an additional 404,670 shares during the last quarter. Finally, Kensico Capital Management Corp raised its holdings in shares of FleetCor Technologies by 52.5% in the third quarter. Kensico Capital Management Corp now owns 450,000 shares of the business services provider’s stock valued at $69,647,000 after buying an additional 155,000 shares during the last quarter. 95.10% of the stock is owned by institutional investors and hedge funds.

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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.

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