FLEETCOR Technologies Inc. (FLT) Clearly Signals Buy-Into the Stock: Don’t ignore the signals

FLEETCOR Technologies Inc. (NYSE: FLT) stock jumped 0.15% on Thursday to $232.82 against a previous-day closing price of $232.46. With 0.5 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.63 million shares. During the session, the Software – Infrastructure company that operates in wider Technology sector, reached to the highest price of $233.24 whereas the lowest price it dropped to was $230.10. The 52-week range on FLT shows that it touched its highest point at $251.61 and its lowest point at $161.69 during that stretch. It currently has a 1-year price target of $246.90. Beta for the stock currently stands at 1.19.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of FLT was down-trending over the past week, with a drop of -0.86%, but this was up by 11.10% over a month. Three-month performance surged to 12.60% while six-month performance rose 21.64%. The stock gained 0.13% in the past year, while it has gained 26.75% so far this year. A look at the trailing 12-month EPS for FLT yields 12.56 with Next year EPS estimates of 19.74. For the next quarter, that number is 4.17. This implies an EPS growth rate of 24.30% for this year and 15.49% for next year. EPS is expected to grow by 12.20% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 13.70%.

Float and Shares Shorts:

At present, 73.52 million FLT shares are outstanding with a float of 71.54 million shares on hand for trading. On Apr 27, 2023, short shares totaled 1.67 million, which was 2.26% higher than short shares on Mar 30, 2023. In addition to Mr. Ronald F. Clarke as the firm’s Chairman, Pres & CEO, Ms. Alissa B. Vickery serves as its Chief Accounting Officer.

Institutional Ownership:

Through their ownership of 92.57% of FLT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 54.21% of FLT, in contrast to 41.84% held by mutual funds. Shares owned by individuals account for 20.16%. As the largest shareholder in FLT with 10.80% of the stake, The Vanguard Group, Inc. holds 7,938,117 shares worth 7,938,117. A second-largest stockholder of FLT, Orbis Investment Management Ltd., holds 5,014,089 shares, controlling over 6.82% of the firm’s shares. Wellington Management Co. LLP is the third largest shareholder in FLT, holding 4,464,591 shares or 6.08% stake. With a 2.96% stake in FLT, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 2,176,519 shares are owned by the mutual fund manager. The T Rowe Price Mid Cap Growth Fund, which owns about 2.37% of FLT stock, is the second-largest Mutual Fund holder. It holds 1,743,500 shares valued at 372.97 million. Vanguard 500 Index Fund holds 2.36% of the stake in FLT, owning 1,731,476 shares worth 370.4 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, FLT reported revenue of $861.28M and operating income of $370.48M. The EBITDA in the recently reported quarter was $445.39M and diluted EPS was $3.35.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for FLT since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With FLT analysts setting a high price target of $270.00 and a low target of $207.00, the average target price over the next 12 months is $248.17. Based on these targets, FLT could surge 15.97% to reach the target high and fall by -11.09% to reach the target low. Reaching the average price target will result in a growth of 6.59% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded FLT stock several times over the past three months with 0 Buys and 1 Sells. In these transactions, 0 shares were bought while 39 shares were sold. The number of buy transactions has increased to 13 while that of sell transactions has risen to 11 over the past year. The total number of shares bought during that period was 198,949 while 101,080 shares were sold.

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