FleetCor Technologies Inc. (NYSE: FLT) had its price target increased by equities researchers at Barclays PLC from $170.00 to $190.00. With a rating of Overweight on the shares, FleetCor Technologies Inc. has a 52-week high of $171.19. A number of other analysts have spoken on the stock in recent days, and the company has earned a consensus one-year price target of $181.14, above the opening price of $168.34.
The Fed stood pat on interest rates on Wednesday, helping stocks to mostly higher levels but Chairwoman Janet Yellen indicated an interest rate hike is likely by year’s end
On Wednesday, the S&P 500 SPX, +1.09% ended 1.1% higher, while the Dow DJIA, +0.90% jumped by 0.9%, or 164 points, as each exchange finished in positive territory for a second consecutive day.
The tech-heavy Nasdaq Composite COMP, +1.03% tacked on 1% and scored a record closing high.
S&P 500 futures ESZ6, +0.36% were up 6.55 points, or 0.3%, to 2,162.75 early Thursday, while Dow Jones Industrial Average futures YMZ6, +0.37% rose 58 points, or 0.3%, to 18,276. Nasdaq-100 futures NQZ6, +0.39% gained 16.25 points, or 0.3%, to 4,866.25.
Yesterday FleetCor Technologies Inc. (NYSE: FLT) shares last traded at $170.87, which represents a spike of $3.22 compared to the previous closing price. Opening at $168.34, they fluctuated from $168.10 and $171.19 throughout the day.
FleetCor Technologies Inc. (NYSE: FLT) now has a market cap of 15.82B.
926,465 shares traded hands yesterday, above the average, out of a total float 84,465,000. Excessive volume aggregation by institutional investors may be in the near future as the combination of substantial increases in trading volume and price inflation can be indicative factors.
As with all potential breakouts, investors watch for volume to be at least 40%-50% higher than normal on the breakout to demonstrate that fund managers and other professional investors are jumping in.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these retain substantial teams of analysts that research thousands of stocks, so it is good validation to see them buying a stock you’re considering.
By marking the activity of these professional investors and how they affect moving averages,it allows for traders to make more useful judgments on trades.
Trades for FleetCor Technologies Inc. (NYSE: FLT) have ranged from $107.56 – 171.19, and the stock now has a 50-day MA of $165.22 and 200-day MA of $152.13. Today’s last price is 0.00% lower than the 52 week high of $171.19.
Earnings growth is a critical factor to look at when buying stocks and investors look for companies that have been successful at growing their earnings at least 25% or more for 3 consecutive years.
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