WEX Inc. (WEX - Free Report) yesterday announced that it has completed the acquisition of Go Fuel Card, the fuel card business of fuel station and convenience store retailer — EG Card. The deal was announced on Mar 25, 2019.
Breda, Netherlands-based Go Fuel Card has presence in Belgium, France and Luxembourg with 200,000 proprietary cards in circulation. It serves small and medium enterprise (SMEs) as well as larger fleet players, operating on an independent proprietary card network with acceptance at more than 5,000 retail sites.
So far this year, we observe that shares of WEX have gained 51.1%, outperforming the 36% rise of the industry it belongs to.
Global Expansion of Fleet Solutions Business
The acquisition is likely to expand WEX’s Fleet business throughout EG locations in the United States, Europe and Australia. The business offers fleet vehicle payment processing services, particularly designed for commercial and government fleets.
We believe that acquisitions are a key growth catalyst for WEX. It has been actively acquiring and investing in companies, both in the United States as well as internationally, to expand its product and service offerings, thereby contributing to revenue growth and enhancing scalability.
Zacks Rank & Stocks to Consider
WEX currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
A few better-ranked stocks in the broader Zacks Business Services sector are FLEETCOR Technologies , Global Payments (GPN - Free Report) and NV5 Global (NVEE - Free Report) , each carrying a Zacks Rank #2 (Buy).
Long-term expected EPS (three to five years) growth rate for FLEETCOR, Global Payments and NV5 Global is 15.4%, 16.9% and 20%, respectively.
This Could Be the Fastest Way to Grow Wealth in 2019
Research indicates one sector is poised to deliver a crop of the best-performing stocks you'll find anywhere in the market. Breaking news in this space frequently creates quick double- and triple-digit profit opportunities.
These companies are changing the world – and owning their stocks could transform your portfolio in 2019 and beyond. Recent trades from this sector have generated +98%, +119% and +164% gains in as little as 1 month.
Click here to see these breakthrough stocks now >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
WEX Inc. (WEX - Free Report) yesterday announced that it has completed the acquisition of Go Fuel Card, the fuel card business of fuel station and convenience store retailer — EG Card. The deal was announced on Mar 25, 2019.
Breda, Netherlands-based Go Fuel Card has presence in Belgium, France and Luxembourg with 200,000 proprietary cards in circulation. It serves small and medium enterprise (SMEs) as well as larger fleet players, operating on an independent proprietary card network with acceptance at more than 5,000 retail sites.
So far this year, we observe that shares of WEX have gained 51.1%, outperforming the 36% rise of the industry it belongs to.
Global Expansion of Fleet Solutions Business
The acquisition is likely to expand WEX’s Fleet business throughout EG locations in the United States, Europe and Australia. The business offers fleet vehicle payment processing services, particularly designed for commercial and government fleets.
We believe that acquisitions are a key growth catalyst for WEX. It has been actively acquiring and investing in companies, both in the United States as well as internationally, to expand its product and service offerings, thereby contributing to revenue growth and enhancing scalability.
Zacks Rank & Stocks to Consider
WEX currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
A few better-ranked stocks in the broader Zacks Business Services sector are FLEETCOR Technologies , Global Payments (GPN - Free Report) and NV5 Global (NVEE - Free Report) , each carrying a Zacks Rank #2 (Buy).
Long-term expected EPS (three to five years) growth rate for FLEETCOR, Global Payments and NV5 Global is 15.4%, 16.9% and 20%, respectively.
This Could Be the Fastest Way to Grow Wealth in 2019
Research indicates one sector is poised to deliver a crop of the best-performing stocks you'll find anywhere in the market. Breaking news in this space frequently creates quick double- and triple-digit profit opportunities.
These companies are changing the world – and owning their stocks could transform your portfolio in 2019 and beyond. Recent trades from this sector have generated +98%, +119% and +164% gains in as little as 1 month.
Click here to see these breakthrough stocks now >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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