Oppenheimer Remains a Buy on Fleetcor Technologies (FLT)


In a report released today, Glenn Greene from Oppenheimer maintained a Buy rating on Fleetcor Technologies (FLT), with a price target of $244. The company’s shares closed yesterday at $190.06.

Greene noted:

“As an addendum to our 1/9/19 note, we revisit a couple of our model assumptions, and accordingly further moderate our EPS estimates. More specifically, we now reflect somewhat higher interest and operating expense assumptions. That said, our organic growth assumptions and outlook remain unchanged. We remain quite optimistic regarding FLT’s intermediate and LT growth opportunities, and continue to view the shares as highly attractive, trading at ~14x our FY20E EPS. Maintain Outperform rating and $244 price target.”

According to TipRanks.com, Greene is a top 25 analyst with an average return of 17.4% and a 73.4% success rate. Greene covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and Total System Services.

Fleetcor Technologies has an analyst consensus of Moderate Buy, with a price target consensus of $222, which is a 16.8% upside from current levels. In a report issued on January 6, KBW also reiterated a Buy rating on the stock with a $214 price target.

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Fleetcor Technologies’ market cap is currently $16.85B and has a P/E ratio of 22.23. The company has a Price to Book ratio of 4.73.

Based on the recent corporate insider activity of 20 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. Most recently, in October 2018, Ronald Clarke, the CEO & Chairman of BOD of FLT bought 145,000 shares for a total of $1,450,000.

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. is a global provider of commercial payment solutions. 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.

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