The stock of FleetCor Technologies, Inc. (NYSE:FLT) reached all time high today, Oct, 7 and still has $286.53 target or 66.00% above today’s $172.61 share price. This indicates more upside for the $21.04B company. This technical setup was reported by Barchart.com. If the $286.53 PT is reached, the company will be worth $13.89B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 208,919 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 EPS, up 9.55% or $0.15 from last year’s $1.57 per share. FLT’s profit will be $209.66 million for 25.09 P/E if the $1.72 EPS becomes a reality. After $1.42 actual EPS 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. The rating was upgraded by Evercore to “Buy” on Friday, March 18. The firm has “Neutral” rating by JP Morgan given on Friday, August 14. SunTrust initiated it with “Buy” rating and $175 target price in Friday, June 24 report. Evercore downgraded FleetCor Technologies, Inc. (NYSE:FLT) on Wednesday, September 30 to “Hold” rating. The firm has “Outperform” rating by Keefe Bruyette & Woods given on Monday, September 14. The rating was maintained by Monness Crespi & Hardt with “Buy” on Wednesday, January 27. The rating was maintained by Keefe Bruyette & Woods with “Outperform” on Wednesday, February 3. Oppenheimer upgraded FleetCor Technologies, Inc. (NYSE:FLT) on Friday, August 5 to “Outperform” rating. The stock of FleetCor Technologies, Inc. (NYSE:FLT) earned “Neutral” rating by Credit Suisse on Friday, December 11. On Friday, June 24 the stock rating was initiated by Suntrust Robinson with “Buy”.
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 Q2 2016. Its up 0.49, from 0.89 in 2016Q1. The ratio improved, 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.
Sg Americas Secs Limited Liability Co holds 11,806 shares or 0.01% of its portfolio. The Florida-based Raymond James Associate has invested 0.02% in FleetCor Technologies, Inc. (NYSE:FLT). Avalon Advisors Limited Liability Company last reported 0.11% of its portfolio in the stock. Paloma Management accumulated 19,220 shares or 0.03% of the stock. Principal Financial has invested 0.01% of its portfolio in FleetCor Technologies, Inc. (NYSE:FLT). The Florida-based Finemark Natl Bank & has invested 0.01% in FleetCor Technologies, Inc. (NYSE:FLT). Sei Invs holds 0.15% or 176,210 shares in its portfolio. Stevens Capital Management Limited Partnership, a Pennsylvania-based fund reported 8,193 shares. Selkirk Mgmt Ltd accumulated 7.28% or 84,239 shares. Janus Cap Mgmt Limited Company has invested 0% of its portfolio in FleetCor Technologies, Inc. (NYSE:FLT). Eaton Vance Mgmt has 1,615 shares for 0% of their US portfolio. Aqr Capital Management Limited Company reported 1,727 shares or 0% of all its holdings. Capstone Asset Mgmt, a Texas-based fund reported 2,172 shares. Manning And Napier Advsrs Ltd Llc accumulated 0.06% or 68,100 shares. Shell Asset Mgmt last reported 6,644 shares in the company.
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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