FleetCor Technologies (NYSE:FLT) Stock Rating Lowered by Morgan Stanley

FleetCor Technologies (NYSE:FLT) was downgraded by research analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research note issued on Thursday, Marketbeat.com reports. They currently have a $284.00 price target on the business services provider’s stock, up from their prior price target of $240.00. Morgan Stanley’s target price would indicate a potential downside of 2.79% from the stock’s current price.

FLT has been the subject of several other reports. GMP Securities reissued an “average” rating and issued a $4.00 price objective on shares of FleetCor Technologies in a research report on Wednesday, June 5th. Zacks Investment Research cut shares of Glu Mobile from a “buy” rating to a “hold” rating in a research report on Tuesday, April 9th. Goldman Sachs Group cut shares of to a “sell” rating and set a GBX 270 ($3.53) price objective for the company. in a research report on Wednesday, June 5th. Deutsche Bank reissued a “buy” rating and issued a GBX 430 ($5.62) price objective on shares of in a research report on Friday, June 21st. Finally, Citigroup set a $68.00 price target on shares of Colgate-Palmolive and gave the stock a “hold” rating in a research report on Tuesday, March 19th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $260.14.

FleetCor Technologies stock opened at $292.16 on Thursday. The stock has a market cap of $25.18 billion, a PE ratio of 29.42, 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 has a 1 year low of $172.18 and a 1 year high of $296.79. The firm has a 50-day moving average of $273.63.

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

Institutional investors and hedge funds have recently made changes to their positions in the company. Quantamental Technologies LLC purchased a new stake in FleetCor Technologies during the first quarter valued at approximately $25,000. Bronfman E.L. Rothschild L.P. lifted its position in FleetCor Technologies by 254.3% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 163 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 117 shares during the last quarter. Executive Wealth Management LLC purchased a new stake in FleetCor Technologies during the fourth quarter valued at approximately $33,000. Kaizen Advisory LLC purchased a new stake in FleetCor Technologies during the fourth quarter valued at approximately $42,000. Finally, Kinneret Advisory LLC purchased a new stake in FleetCor Technologies during the fourth quarter valued at approximately $119,000. 93.69% of the stock is owned by hedge funds and other institutional investors.

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.

See Also: Leveraged Buyout (LBO)

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.