Barclays Maintains FleetCor Technologies to Overweight with Price Target $170.00

Brokerage firm Barclays Maintains its rating on FleetCor Technologies(NYSE:FLT). In a research note issued to the investors, the brokerage major Raises the price-target to $170.00 per share. The shares have been rated Overweight. The rating by Barclays was issued on Aug 5, 2016.

In a different note, On Aug 5, 2016, Oppenheimer said it Upgrades its rating on FleetCor Technologies. The shares have been rated ‘Outperform’ by the firm. On Jul 12, 2016, JP Morgan said it Upgrades its rating on FleetCor Technologies. The shares have been rated ‘Overweight’ by the firm. SunTrust Robinson Humphrey said it Initiates Coverage on FleetCor Technologies, according to a research note issued on Jun 24, 2016. The shares have been rated ‘Buy’ by the firm.

FleetCor Technologies (FLT) made into the market gainers list on Wednesdays trading session with the shares advancing 0.13% or 0.22 points. Due to strong positive momentum, the stock ended at $168.21, which is also near the day’s high of $168.47. The stock began the session at $167.61 and the volume stood at 4,00,460 shares. The 52-week high of the shares is $169.59 and the 52 week low is $107.56. The company has a current market capitalization of $20,341 M and it has 12,09,28,888 shares in outstanding.

FleetCor Technologies(FLT) last announced its earnings results on Aug 4, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $395.60M. Analysts had an estimated revenue of $415.20M. Earnings per share were $1.56. Analysts had estimated an EPS of $1.54.

Several Insider Transactions has been reported to the SEC. On Jul 19, 2016, Todd House (President NA Card Products) sold 4,347 shares at $151.99 per share price.Also, On Jul 14, 2016, Charles Richard Freund (EVP Global Sales) sold 21,969 shares at $149.00 per share price.On Jun 8, 2016, Armando Lins Netto (CEO Brazil) sold 6,200 shares at $151.89 per share price, according to the Form-4 filing with the securities and exchange commission.

FleetCor Technologies Inc. is an independent global provider of fuel cards commercial payment and data solutions stored value solutions and workforce payment products and services to businesses retailers commercial fleets oil companies petroleum marketers and Government entities in countries. The Company operates in two segments: North America and International. In North America the Company sells a fuel card product commercial payment and data solutions as well as a fleet telematics offering which allows customers to track the location of mobile workers in field-based businesses as well as over-the-road trucking fleets. In its International segment the Company provides small and mid-sized fleets with fuel cards to control and manage spending. Additionally the Company provides a similar fuel product in its International segment to over-the-road trucking fleets shipping fleets and other operators of heavily industrialized equipment.

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