Jefferies Keeps Their Buy Rating on Fleetcor Technologies

By Ryan Adsit

In a report released today, Andy Barish from Jefferies reiterated a Buy rating on Fleetcor Technologies (NYSE: FLT), with a price target of $197. The company’s shares closed yesterday at $135.97.

According to TipRanks.com, Barish is a 5-star analyst with an average return of 8.3% and a 56.4% success rate. Barish covers the Services sector, focusing on stocks such as Ollie’s Bargain Outlet Holding, Papa John’s International, and Popeyes Louisiana Kitchen.

Currently, the analyst consensus on Fleetcor Technologies is Strong Buy and the average price target is $178.07, representing a 31.0% upside.

In a report issued on May 9, KBW also reiterated a Buy rating on the stock with a $201.50 price target.

Based on Fleetcor Technologies’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $520 million and quarterly net profit of $124 million. In comparison, last year the company earned revenue of $414 million and had a net profit of $110 million.

Based on the recent corporate insider activity of 75 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FLT in relation to earlier this year. Earlier this month, Jeffrey Steven Sloan, a Director at FLT bought 2,000 shares for a total of $268,840.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.