IsFleetCor (NYSE:FLT) An Attractive Buy? Credit Suisse Initiates Coverage


How Credit Suisse Currently Rates FleetCor (NYSE:FLT)

Credit Suisse issued “Neutral” rating on FleetCor (NYSE:FLT). The firm have initiated coverage on shares of FLT in analysts note sent to clients and investors on Friday, 11 December.

From a total of 13 analysts covering Fleetcor Technologies (NYSE:FLT) stock, 9 rate it a ”Buy”, 0 a “Sell”, and 6 a ”Hold”. This means that 60% of the ratings are positive. The highest target price is $185 while the lowest target price is $144. The mean of all analyst targets is $170.46 with a 25.20% above today’s ($143.45) stock price. Fleetcor Technologies was the topic of 10 analyst reports since August 6, 2015 according to the firm StockzIntelligence Inc. Evercore downgraded shares on September 30 to “Hold” rating. Oppenheimer maintained FLT stock in a recent report from August 19 with “Hold” rating.

Approximately 225,863 shares of stock traded hands. FleetCor Technologies, Inc. (NYSE:FLT) has declined 5.21% since May 8, 2015 and is downtrending. It has underperformed by 2.19% the S&P500.

The overall sentiment of institutions has decreased to 1.21 in Q2 2015. Its down 0.07, from 1.28 in 2015Q2. The ratio turned negative, as 31 institutions have sold all the shares of FleetCor Technologies, Inc. that they owned while 116 funds have taken shares off the table. 45 funds have purchased shares for the first time while 133 added to their positions. These institutions now hold 93.22 million shares or 19.20% more than the 78.21 million shares they owned in 2015Q2.

The Fund 12 West Capital Management Lp currently is holding shares equating to 29.08% of its total portfolio in FleetCor Technologies, Inc. representing a total of 1.45 million shares. Another fund,Marble Arch Investments Lp, is holding a total of 837,000 shares equating to 8.86% of their holdings. Additionally, Hound Partners Llc has a 2.86 million share stake in FleetCor Technologies, Inc. which represents 8.51% of their total portfolio. The Fund, Levasseur Capital Partners Llc, based out of California, has also built up a stake in the stock, which represents a total of 8.4% of their total portfolio. Finally Selkirk Management Llc, a fund which is based in the state of New Jersey reported a total holdings of 91,739 shares.

FleetCor Technologies, Inc. is an independent global well-known provider of fuel cards, commercial payment and data solutions, stored value solutions, and workforce payment services and products to businesses, retailers, commercial fleets, oil companies, petroleum marketers and Government entities in countries. The company has a market cap of $13.36 billion. The Firm operates in two divisions: North America and International. It has 31.9 P/E ratio. In North America, the Company sells a fuel card product, commercial payment and data solutions, as well as a fleet telematics offering, which allows clients to track the location of mobile workers in field businesses, as well as over-the-road trucking fleets.

According to Zacks Investment Research, “FleetCor Technologies Inc operates as a provider of specialized payment products and services to commercial fleets, major oil companies and petroleum marketers. The Company’s range of customized fleet and lodging payment programs are offered through three general categories- direct issuing; fuel card services and petroleum distributor services. These products function like a charge card to purchase fuel, lodging and related products and services at participating locations. FleetCor also provides specialized issuing, processing and information services to its customers. The Company owns and operates proprietary closed-loop networks and uses third party networks to deliver its payment services. FleetCor Technologies Inc is headquartered in Norcross, Georgia.” Get a free copy of the Zacks research report on FleetCor Technologies, Inc. (FLT).