Analysts at Barclays Capital Decreased FleetMatics Group (NYSE:FLTX) from Overweight to Equal-weight. The Stock Has -0.99 % Downside Potential and $59.00 TP

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Barclays Capital Analyst Rating Change FleetMatics Group NYSE:FLTX

FleetMatics Group (NYSE:FLTX) Rating Change

Trading of FleetMatics Group (NYSE:FLTX)’s shares is going to be interesting today, as Barclays Capital cut the stock from a Overweight to a Equal-weight. Along the rating downgrade, Barclays Capital analysts gave a TP of $59.00 or -0.99 % more.

Despite this stock rating downgrade NYSE:FLTX is currently trading 0.03% higher at $59.59 as of 23:32 New York time. FleetMatics Group’s stock is up 9.62% in the past 200 days. It has outperformed the S&P500 Index, which has risen 6.43% in the same time period.

According to data compiled by Thomson Reuters, FleetMatics Group (NYSE:FLTX)’s stock is covered by 14 equity analysts across the Street, with 1 analysts giving it a Sell rating, 11 a Buy rating, while 3 consider it a Hold. The 12-month consensus target price for the stock is $50.14, which reflects an downside potential of 15.86% over the current price.

NYSE:FLTX Price Chart & Trend

The stock price of FleetMatics Group has gained 9.62% over the last 200 days, and is in unstable up trend. In the last 50 and 100 days, FleetMatics Group is up 47.83% and up 51.28%, respectively. Our stocks momentum model is shown on the price chart below. Analysts at Barclays Capital Decreased FleetMatics Group (NYSE:FLTX) from Overweight to Equal-weight. The Stock Has -0.99 % Downside Potential and $59.00 TP

Source: RightEdge Systems, Yahoo Split & Dividend Adjusted Data and OctaFinance Trading Models

Institutional Ownership

Shearlink Capital Llc had the most significant stake with ownership of 316,996 shares as of Q2 2015 for 6.73% of the fund portfolio. Weatherbie Capital Llc is another bull as the active investment manager who is having 577,358 shares of FleetMatics Group or 2.75% of their fund portfolio. Moreover, First Washington Corp have 2.64% of their fund portfolio invested in the company for 101,090 shares. The Delaware-based fund Ashford Capital Management Inc disclosed it had bought so far a stake worth about 2.63% of the active investment manager’s stock portfolio in FleetMatics Group. The Pennsylvania-based fund Conestoga Capital Advisors Llc is also positive about the stock, possessing 259,500 shares or 2.43% of their fund portfolio.Over the last 6 months, FleetMatics Group NYSE:FLTX has seen 0 insider purchases, and 4 insider sales. The net result was for 4 transactions, worth $632,976.

FleetMatics Group (NYSE:FLTX) Profile

Fleetmatics Group PLC is a holding company. The Company is a provider of mobile workforce solutions for service-based businesses of all sizes delivered as software-as-a-service (SaaS). It offers Web-based and mobile application solutions that provide fleet operators with access to vehicle location, fuel usage, speed and mileage and others into their mobile workforce.

FleetMatics Group (NYSE:FLTX) traded up 0.03% on 4 August, hitting $59.59. A total of shares of the company’s stock traded hands. This is down from average of 972,135 shares. FleetMatics Group has a 52 week low of $34.41 and a 52 week high of $62.86. The company has a market cap of $2.33B and a P/E ratio of 72.43.

Get the latest FleetMatics Group (NYSE:FLTX) Stock Ratings at Octafinance. Completely free access to our Analyst Ratings Database for 6000+ stocks.

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