WEX (NYSE:WEX) had its price target raised by analysts at SunTrust Banks from $170.00 to $215.00 in a research report issued to clients and investors on Thursday, The Fly reports. The brokerage currently has a “buy” rating on the business services provider’s stock. SunTrust Banks’ target price points to a potential upside of 12.54% from the company’s previous close.
A number of other analysts have also issued reports on the stock. BTIG Research assumed coverage on shares of WEX in a research note on Thursday, January 17th. They set a “buy” rating and a $198.00 target price for the company. Zacks Investment Research raised shares of WEX from a “sell” rating to a “hold” rating in a research note on Saturday, January 12th. ValuEngine raised shares of WEX from a “hold” rating to a “buy” rating in a research note on Friday, February 8th. Wolfe Research raised shares of WEX from a “market perform” rating to an “outperform” rating in a research note on Friday, January 4th. Finally, Wells Fargo & Co reissued an “outperform” rating and set a $180.00 target price (down from $200.00) on shares of WEX in a research note on Wednesday, January 16th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $196.64.
WEX stock opened at $191.04 on Thursday. The company has a current ratio of 1.47, a quick ratio of 1.50 and a debt-to-equity ratio of 1.19. WEX has a twelve month low of $131.35 and a twelve month high of $203.49. The firm has a market cap of $8.03 billion, a price-to-earnings ratio of 40.65, a PEG ratio of 1.50 and a beta of 1.51.
WEX (NYSE:WEX) last posted its quarterly earnings data on Wednesday, March 20th. The business services provider reported $1.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.93 by $0.01. WEX had a net margin of 11.28% and a return on equity of 14.93%. The business had revenue of $381.20 million for the quarter, compared to analysts’ expectations of $372.57 million. During the same quarter in the previous year, the business posted $1.49 earnings per share. The business’s revenue was up 15.1% compared to the same quarter last year. As a group, analysts anticipate that WEX will post 7.58 EPS for the current fiscal year.
In other news, insider Nicola S. Morris sold 992 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $184.05, for a total transaction of $182,577.60. Following the completion of the sale, the insider now directly owns 11,848 shares of the company’s stock, valued at $2,180,624.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.57% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Prudential Financial Inc. raised its holdings in WEX by 7.6% in the third quarter. Prudential Financial Inc. now owns 27,599 shares of the business services provider’s stock worth $5,541,000 after purchasing an additional 1,950 shares in the last quarter. Rhumbline Advisers raised its holdings in WEX by 1.9% in the third quarter. Rhumbline Advisers now owns 95,945 shares of the business services provider’s stock worth $19,262,000 after purchasing an additional 1,753 shares in the last quarter. Hartford Investment Management Co. raised its holdings in WEX by 63.8% in the third quarter. Hartford Investment Management Co. now owns 1,843 shares of the business services provider’s stock worth $370,000 after purchasing an additional 718 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in WEX by 5.5% in the third quarter. Bank of New York Mellon Corp now owns 446,851 shares of the business services provider’s stock worth $89,710,000 after purchasing an additional 23,169 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in WEX by 6.8% in the third quarter. BlackRock Inc. now owns 3,720,426 shares of the business services provider’s stock worth $746,912,000 after purchasing an additional 236,285 shares in the last quarter. 98.52% of the stock is owned by institutional investors.
WEX Company Profile
WEX Inc provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment and processing services.
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