“FleetCor Technologies, Inc. (FLT, $72) is a provider of products that let operators of vehicle fleets keep close tabs on expenditures. Fleetcor cards are used to buy fuel, food and lodging, reducing fraud, preventing misuse and allowing companies to track expenses.
“The big attraction for investors is FleetCor’s solid earnings growth (48% in Q3 and 46% in Q4) and healthy 35% after-tax profit margins. FLT came public in December 2010 and took just nine months to build a post-IPO base and get moving up. The rally that began in August 2012 is still going strong, having picked up speed following the stock’s February 8 gap up on earnings. FLT is a little extended, but a buy on any pullback of a point or two looks like a good bet. BUY.”
- Michael Cintolo, Cabot Market Letter, March 6, 2013