Today’s Price Action: What’s FleetCor Technologies, Inc. Upside After Today’s Gap Up?

Today's Price Action: What's FleetCor Technologies, Inc. Upside After Today's Gap Up?

The stock of FleetCor Technologies, Inc. (NYSE:FLT) gapped up by $0.62 today and has $226.60 target or 32.00% above today’s $171.67 share price. The 5 months technical chart setup indicates low risk for the $20.37 billion company. The gap was reported on Oct, 14 by Barchart.com. If the $226.60 price target is reached, the company will be worth $6.52 billion more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 466,657 shares traded hands. FleetCor Technologies, Inc. (NYSE:FLT) has risen 20.71% since March 11, 2016 and is uptrending. It has outperformed by 15.25% 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 $204.09 million for 24.95 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 stock has “Outperform” rating given by Oppenheimer on Friday, August 5. The stock of FleetCor Technologies, Inc. (NYSE:FLT) earned “Hold” rating by Oppenheimer on Wednesday, August 19. Evercore upgraded the stock to “Buy” rating in Friday, March 18 report. The rating was maintained by JP Morgan on Friday, August 14 with “Neutral”. The stock of FleetCor Technologies, Inc. (NYSE:FLT) earned “Buy” rating by SunTrust on Friday, June 24. The rating was maintained by Barclays Capital with “Overweight” on Wednesday, September 21. The firm has “Neutral” rating given on Friday, April 15 by Compass Point. As per Wednesday, February 3, the company rating was maintained by Keefe Bruyette & Woods. Monness Crespi & Hardt maintained FleetCor Technologies, Inc. (NYSE:FLT) on Monday, September 19 with “Buy” rating. The rating was maintained by Barclays Capital with “Overweight” on Friday, August 5.

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.
Aperio Ltd Com has 0.02% invested in the company for 15,968 shares. Highbridge Cap Mgmt Limited Co holds 9,644 shares or 0.02% of its portfolio. Rhumbline Advisers accumulated 0.04% or 89,900 shares. Marble Arch L P last reported 747,000 shares in the company. Jane Street Group Inc Limited Co holds 0% or 3,295 shares in its portfolio. Driehaus Capital Ltd has invested 0.02% of its portfolio in FleetCor Technologies, Inc. (NYSE:FLT). Tokio Marine Asset Management Limited has 0.36% invested in the company for 24,700 shares. Delta Lloyd Nv owns 5,511 shares or 0.03% of their US portfolio. Point72 Asia (Hong Kong) Ltd holds 300 shares or 0.05% of its portfolio. Regions accumulated 0.03% or 17,645 shares. Schroder Investment Management Gru last reported 0.01% of its portfolio in the stock. M&T Comml Bank Corp has 34,243 shares for 0.03% of their US portfolio. Raymond James Fincl Svcs Inc has 0% invested in the company for 2,271 shares. The Ohio-based Beese Fulmer Inv has invested 1.19% in FleetCor Technologies, Inc. (NYSE:FLT). Howard Hughes Institute has 35,000 shares for 1.68% of their US portfolio.

Another recent and important FleetCor Technologies, Inc. (NYSE:FLT) news was published by Streetinsider.com which published an article titled: “Fleetcor Technologies, Inc. (FLT) Announces Acquisition of Travelcard Nederland” on August 05, 2016.

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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