FleetCor Technologies (FLT) is Upgraded by JP Morgan to Overweight, Price Target at $159

FleetCor Technologies (FLT) was Upgraded by JP Morgan to ” Overweight” and the brokerage firm has set the Price Target at $159. Earlier the firm had a rating of “Neutral ” on the company shares. JP Morgan advised their investors in a research report released on Jul 12, 2016.

Many Wall Street Analysts have commented on FleetCor Technologies. FleetCor Technologies was Initiated by SunTrust to “Buy” on Jun 24, 2016. Company shares were Reiterated by Compass Point on May 5, 2016 to “Neutral”, Firm has raised the Price Target to $ 146 from a previous price target of $145 .Company shares were Reiterated by Barclays on May 5, 2016 to “Overweight”, Firm has raised the Price Target to $ 160 from a previous price target of $150 .

On the company’s financial health, FleetCor Technologies reported $1.53 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 4, 2016. Analyst had a consensus of $1.50. The company had revenue of $414.30 million for the quarter, compared to analysts expectations of $419.05 million. The company’s revenue was down -.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.45 EPS.

FleetCor Technologies closed down -0.1 points or -0.07% at $143.69 with 3,63,404 shares getting traded on Monday. Post opening the session at $144.25, the shares hit an intraday low of $143.12 and an intraday high of $144.98 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Jun 8, 2016, Armando Lins Netto (CEO Brazil) sold 6,200 shares at $151.89 per share price. According to the SEC, on May 31, 2016, Charles Richard Freund (EVP Global Sales) sold 3,038 shares at $150.42 per share price. On May 31, 2016, Eric Dey (CFO & Secretary) sold 2,310 shares at $149.83 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.

FleetCor Technologies

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