Oppenheimer Believes FLT Won’t Stop Here

By Carrie Williams

Oppenheimer analyst Glenn Greene assigned a Buy rating to Fleetcor Technologies (NYSE: FLT) yesterday and set a price target of $185. The company’s shares closed yesterday at $172.68, close to its 52-week high of $176.42.

According to TipRanks.com, Greene is a top 25 analyst with an average return of 18.6% and a 77.9% success rate. Greene covers the Technology sector, focusing on stocks such as Black Knight Financial Services, Automatic Data Processing, and Jack Henry & Associates.

Currently, the analyst consensus on Fleetcor Technologies is Strong Buy and the average price target is $176.14, representing a 2.0% upside.

In a report issued on October 20, Jefferies also reiterated a Buy rating on the stock with a $200 price target.

The company has a one year high of $176.42 and a one year low of $107.56. Currently, Fleetcor Technologies has an average volume of 665K.

Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is negative on the stock. Most recently, in September 2016, Andrew Blazye, the CEO, Europe of FLT sold 13,000 shares for a total of $2,171,000.

FleetCor Technologies, Inc. engages in the management and process of commercial fuel cards. It provides fuel cards, commercial payment and data solutions, stored value solutions, and workforce payment products and services to businesses, commercial fleets, major oil companies, petroleum marketers and government entities. The firm also provides customers with various card products that function like a charge card to purchase fuel, lodging and related products and services at participating locations. The company was founded in 2000 and is headquartered in Norcross, GA.