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Wednesday, April 05, 2017 3:54:50 PM
FleetCor Technologies (FLT +1.8%) recoups part of yesterday's 5% drubbing caused by Citron's negative report that called FLT a "predatory company."
The report said FLT generates 56% of its revenue from customers, rather than from merchants, while competitor WEX has a fee structure that generates only 12% of total revenue from customers.
Wells Fargo's Timothy Will defends FLT, reiterating his Outperform rating and setting a valuation range of $170-$180, saying WEX generated at least 34% of its consolidated revenue in 2016 from customers, including 39% within the fleet segment; although FLT’s figure is much higher, it represents a “more comparable mix to WEX.”
Will says that while FLT’s generated 44% more revenue per transaction in its fuel card business than WEX in 2016, “we believe the premium is explained by business mix and not company-specific fee structures.”
Recent FLT News
- FLEETCOR Announces Rebranding to Corpay • Business Wire • 03/25/2024 12:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/09/2024 12:14:30 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/07/2024 11:11:09 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/07/2024 11:06:55 PM
- FLEETCOR Announces Rebranding to Corpay • Business Wire • 03/07/2024 01:00:00 PM
- FLEETCOR Invests in Brazilian Vehicle Payments Company • Business Wire • 03/06/2024 09:05:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/05/2024 10:58:21 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/04/2024 11:32:25 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/04/2024 06:08:57 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/29/2024 10:10:42 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/20/2024 01:55:58 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/17/2024 12:45:38 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/17/2024 12:42:29 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/17/2024 12:41:55 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/17/2024 12:41:13 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/17/2024 12:37:12 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/17/2024 12:33:42 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/17/2024 12:29:52 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/17/2024 12:23:58 AM
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- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/17/2024 12:03:05 AM
- FLEETCOR to Participate in Upcoming Investor Conferences • Business Wire • 02/16/2024 01:59:00 PM
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 02/15/2024 10:54:10 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/07/2024 09:19:09 PM
- FLEETCOR® Reports Fourth Quarter and Full Year 2023 Financial Results • Business Wire • 02/07/2024 09:05:00 PM
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