Notable Mover: What’s Next for FleetCor Technologies, Inc. After Reaching 52-Week High?

Notable Mover: What's Next for FleetCor Technologies, Inc. After Reaching 52 Week High?

The stock of FleetCor Technologies, Inc. (NYSE:FLT) hit a new 52-week high and has $210.01 target or 22.00% above today’s $172.14 share price. The 7 months bullish chart indicates low risk for the $20.98B company. The 1-year high was reported on Oct, 7 by Barchart.com. If the $210.01 price target is reached, the company will be worth $4.62B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 158,599 shares traded hands. FleetCor Technologies, Inc. (NYSE:FLT) has risen 26.46% since March 4, 2016 and is uptrending. It has outperformed by 18.42% the S&P500.

Analysts await FleetCor Technologies, Inc. (NYSE:FLT) to report earnings on November, 2. They expect $1.72 earnings per share, up 9.55% or $0.15 from last year’s $1.57 per share. FLT’s profit will be $209.63 million for 25.02 P/E if the $1.72 EPS becomes a reality. After $1.42 actual earnings per share reported by FleetCor Technologies, Inc. for the previous quarter, Wall Street now forecasts 21.13% EPS growth.

FleetCor Technologies, Inc. (NYSE:FLT) Ratings Coverage

Out of 10 analysts covering Fleetcor Technologies (NYSE:FLT), 9 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 90% are positive. Fleetcor Technologies has been the topic of 26 analyst reports since August 6, 2015 according to StockzIntelligence Inc. Monness Crespi & Hardt maintained FleetCor Technologies, Inc. (NYSE:FLT) on Wednesday, January 27 with “Buy” rating. SunTrust initiated FleetCor Technologies, Inc. (NYSE:FLT) on Friday, June 24 with “Buy” rating. The firm has “Hold” rating by Evercore given on Wednesday, September 30. The rating was maintained by Oppenheimer on Wednesday, August 19 with “Hold”. The stock has “Buy” rating given by Evercore on Friday, March 18. Suntrust Robinson initiated the stock with “Buy” rating in Friday, June 24 report. The company was upgraded on Friday, August 5 by Oppenheimer. The rating was maintained by Keefe Bruyette & Woods on Wednesday, February 3 with “Outperform”. Credit Suisse initiated FleetCor Technologies, Inc. (NYSE:FLT) on Friday, December 11 with “Neutral” rating. The firm has “Positive” rating by Susquehanna given on Thursday, August 6.

According to Zacks Investment Research, “FleetCor is a leading independent global provider of fuel cards, commercial payment and data solutions, lodging and transportation management services, stored value solutions, and workforce payment products and services to businesses, retailers, commercial fleets, major oil companies, petroleum marketers and government entities in countries throughout North America, Latin America, Europe, Australia and New Zealand. They also provide a suite of fleet related and workforce payment solution products, including mobile telematics services, fleet maintenance management and employee benefit and transportation related payments.”

Insitutional Activity: The institutional sentiment increased to 1.38 in 2016 Q2. Its up 0.49, from 0.89 in 2016Q1. The ratio increased, as 20 funds sold all FleetCor Technologies, Inc. shares owned while 106 reduced positions. 46 funds bought stakes while 128 increased positions. They now own 83.83 million shares or 3.25% less from 86.65 million shares in 2016Q1.
American Group Inc last reported 0% of its portfolio in the stock. Gotham Asset Limited Liability Company holds 0.01% or 4,402 shares in its portfolio. Saturna holds 0.03% or 7,423 shares in its portfolio. Blackrock Japan Com Limited holds 0.06% of its portfolio in FleetCor Technologies, Inc. (NYSE:FLT) for 115,735 shares. Steadfast Cap Mngmt Lp last reported 296,503 shares in the company. Peak6 Invs Limited Partnership reported 2,705 shares or 0% of all its holdings. D E Shaw & Communication, a New York-based fund reported 67,581 shares. Walleye Trading Ltd Liability Co accumulated 0% or 1,925 shares. Oz Management Lp, a New York-based fund reported 2.42M shares. Cadinha & Ltd Limited Liability Company last reported 0.07% of its portfolio in the stock. Alkeon Cap Mngmt holds 509,310 shares or 1.41% of its portfolio. Aviva Public Limited Com has invested 0.05% of its portfolio in FleetCor Technologies, Inc. (NYSE:FLT). Automobile Association last reported 0.03% of its portfolio in the stock. Marshall Wace Llp has 0.59% invested in the company for 492,202 shares. Dai Ichi Life Ltd has 0.01% invested in the company for 1,706 shares.

FLT Company Profile

FleetCor Technologies, Inc., incorporated on February 3, 1998, 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 throughout North America, Latin America, Europe, Australia and New Zealand. The Firm operates in two divisions: North America and International. In North America, the Company sells a fuel card product, commercial payment and data solutions, lodging and transportation management services, gift card and stored value solutions, as well as a fleet telematics offering. In its International segment, the Company provides fuel card and related fuel services, work force payment and vehicle maintenance management solutions. It sells a range of customized fleet and lodging payment programs to its clients through partners, such as oil companies, leasing companies and petroleum marketers. The Firm provides clients with various card products that function like a charge card to purchase fuel, lodging, food, toll, transportation and related services and products at participating locations. It supports these cards with specialized issuing, processing and information services that enable it to manage card accounts, facilitate the routing, authorization, clearing and settlement of transactions, and provide value-added functionality and data, including customizable card-level controls and productivity analysis tools. It provides these services in a range of outsourced solutions ranging from end-to-end solution (encompassing issuing, processing and network services) to limited back office processing services.

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