Shares of FleetCor Technologies, Inc. (NYSE:FLT), a global payment processing firm serving the fuel card market, fell following disappointing quarterly results and a modest reduction in its full-year revenue guidance. Investors had expected an acceleration of organic growth during the second half of 2016, but instead it modestly decelerated. Investor sentiment was also tarnished by a large contract loss and intensifying foreign exchange market headwinds into year end. We expect these headwinds to abate and strong earnings growth to persist.
From Barron Asset Fund fourth quarter 2016 commentary.
