FleetCor Technologies, Inc. (NYSE:FLT) Sees Significant Growth in Short Interest

FleetCor Technologies, Inc. (NYSE:FLT) was the recipient of a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 3,370,000 shares, a growth of 35.9% from the December 31st total of 2,480,000 shares. Currently, 4.0% of the shares of the stock are sold short. Based on an average trading volume of 642,200 shares, the days-to-cover ratio is presently 5.2 days.

NYSE FLT traded up $4.20 during trading hours on Tuesday, hitting $317.45. 499,446 shares of the company’s stock were exchanged, compared to its average volume of 923,080. The business’s 50 day moving average is $298.95 and its 200-day moving average is $294.65. FleetCor Technologies has a 12-month low of $196.65 and a 12-month high of $320.96. The firm has a market capitalization of $27.82 billion, a P/E ratio of 29.81, a price-to-earnings-growth ratio of 1.59 and a beta of 1.08. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.12 and a current ratio of 1.12.

FleetCor Technologies (NYSE:FLT) last released its quarterly earnings data on Wednesday, November 6th. The business services provider reported $3.10 EPS for the quarter, topping analysts’ consensus estimates of $2.90 by $0.20. The company had revenue of $681.00 million for the quarter, compared to the consensus estimate of $679.68 million. FleetCor Technologies had a return on equity of 26.81% and a net margin of 37.08%. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period last year, the business posted $2.68 EPS. As a group, equities research analysts anticipate that FleetCor Technologies will post 11.22 EPS for the current fiscal year.

In other news, insider Eales John acquired 2,000 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were bought at an average price of $39.79 per share, for a total transaction of $79,572.00. Also, insider Garnsey Colette acquired 1,250 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was purchased at an average price of $40.66 per share, for a total transaction of $50,825.00. 5.70% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its holdings in shares of FleetCor Technologies by 196.8% in the 2nd quarter. AQR Capital Management LLC now owns 13,518 shares of the business services provider’s stock worth $3,797,000 after purchasing an additional 8,964 shares during the last quarter. Morgan Stanley lifted its holdings in shares of FleetCor Technologies by 3.8% in the 2nd quarter. Morgan Stanley now owns 89,183 shares of the business services provider’s stock worth $25,047,000 after purchasing an additional 3,254 shares during the last quarter. Cubist Systematic Strategies LLC lifted its holdings in shares of FleetCor Technologies by 91.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,089 shares of the business services provider’s stock worth $306,000 after purchasing an additional 520 shares during the last quarter. Pictet Asset Management Ltd. lifted its holdings in shares of FleetCor Technologies by 31.0% in the 2nd quarter. Pictet Asset Management Ltd. now owns 40,285 shares of the business services provider’s stock worth $11,314,000 after purchasing an additional 9,544 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. raised its stake in FleetCor Technologies by 25.5% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 215,938 shares of the business services provider’s stock valued at $60,646,000 after acquiring an additional 43,883 shares in the last quarter. Institutional investors own 93.55% of the company’s stock.

Several research analysts have recently commented on the company. Credit Suisse Group assumed coverage on FleetCor Technologies in a report on Thursday, January 23rd. They set a “neutral” rating and a $335.00 price target on the stock. Citigroup lifted their price target on FleetCor Technologies from $340.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Royal Bank of Canada assumed coverage on FleetCor Technologies in a report on Monday, October 7th. They set a “sector perform” rating and a $324.00 price target on the stock. ValuEngine lowered FleetCor Technologies from a “hold” rating to a “sell” rating in a report on Friday, January 3rd. Finally, Morgan Stanley lifted their price target on FleetCor Technologies from $306.00 to $316.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. FleetCor Technologies has an average rating of “Hold” and a consensus price target of $294.94.

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.

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