10 Best Stocks for 2014: #8, Fleetcor (FLT)
Investor: Louis Navellier
YTD Return: -3%
Fleetcor is best known for providing payment processing services and private-label fuel credit cards to gas station operators and owners of vehicle fleets. In addition to fleet cards, the company’s other payment products include food cards and corporate lodging discount cards.
Currently, FleetCor serves more than half a million commercial accounts, covering millions of cardholders across North America, Europe, Africa and Asia. Last year alone, the company processed nearly 304 million transactions.
If you’re looking to play a cyclical recovery in business spending and travel, FleetCor is a unique way to do that.
And despite recent underperformance, the fundamentals of FLT stock are strong. In its February earnings report, Fleetcor reported adjusted EPS growth of 32% in Q4 and set its profit outlook for fiscal 2014 at a 22% growth rate.
Those numbers mean FLT stock is still in the race long-term even if it hasn’t put up big gains just yet in 2014.