FLEETCOR Technologies, Inc. provides digital payment solutions for businesses to control purchases and make payments. It offers corporate payments solutions, such as accounts payable automation; Virtual Card, which provides a single-use card number for a specific amount usable within a defined timeframe; Cross-Border that is used by its customers to pay international vendors, foreign office and personnel expenses, capital expenditures, and profit repatriation and dividends; and purchasing cards and travel and entertainment cards for its customers to analyze and manage their corporate spending. The company also provides employee expense management solutions, including fuel solutions to businesses and government entities that operate vehicle fleets, as well as to oil and leasing companies, and fuel marketers; lodging solutions to businesses that have employees who travel overnight for work purposes, as well as to airlines and cruise lines to accommodate traveling crews and stranded passengers; and electronic toll payments solutions to businesses and consumers in the form of radio frequency identification tags affixed to vehicles' windshields. In addition, it offers gift card program management and processing services in plastic and digital forms that include card design, production and packaging, delivery and fulfillment, card and account management, transaction processing, promotion development and management, website design and hosting, program analytics, and card distribution channel management. Further, it provides other products consisting of payroll cards, vehicle maintenance service solution, long-haul transportation solution, prepaid food vouchers or cards, and prepaid transportation cards and vouchers. The company serves business, merchant, consumer, and payment network customers in North America, Brazil, and Internationally. The company was founded in 1986 and is headquartered in Atlanta, Georgia.
Wall Street Analyst Weigh In
FLT has been the subject of several recent analyst reports. Truist Financial cut their target price on FLEETCOR Technologies from $290.00 to $275.00 and set a "buy" rating for the company in a research note on Thursday, June 30th. Evercore ISI reaffirmed an "outperform" rating and set a $300.00 target price on shares of FLEETCOR Technologies in a research report on Thursday, June 2nd. Mizuho increased their target price on shares of FLEETCOR Technologies from $250.00 to $256.00 and gave the company a "neutral" rating in a research report on Tuesday. Citigroup boosted their price target on shares of FLEETCOR Technologies from $335.00 to $345.00 and gave the stock a "buy" rating in a research report on Thursday, June 9th. Finally, Wells Fargo & Company lowered their target price on FLEETCOR Technologies to $298.00 in a report on Friday, July 22nd. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, FLEETCOR Technologies presently has an average rating of "Moderate Buy" and an average price target of $288.70.
FLEETCOR Technologies Trading Down 0.3 %
FLT Stock traded down $0.63 during midday trading on Wednesday, reaching $224.49. 539,831 shares of the company traded hands, compared to its average volume of 558,853. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.01 and a current ratio of 1.06. The business has a 50 day moving average of $221.29 and a 200-day moving average of $233.63. The firm has a market capitalization of $17.36 billion, a price-to-earnings ratio of 19.29, a P/E/G ratio of 1.09 and a beta of 1.22. FLEETCOR Technologies has a 52-week low of $200.78 and a 52-week high of $282.02.