WEX Inc (NYSE:WEX) has received a consensus recommendation of “Buy” from the seventeen brokerages that are presently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $223.00.
Several brokerages have commented on WEX. Morgan Stanley raised their target price on WEX from $197.00 to $204.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Deutsche Bank raised their target price on WEX from $209.00 to $223.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Jefferies Financial Group raised their target price on WEX from $210.00 to $230.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. Zacks Investment Research upgraded WEX from a “hold” rating to a “buy” rating and set a $214.00 target price for the company in a research note on Saturday, June 15th. Finally, Bank of America began coverage on WEX in a research note on Monday, June 3rd. They issued a “buy” rating and a $220.00 target price for the company.
Shares of WEX stock traded down $2.88 on Thursday, hitting $205.47. 198,840 shares of the stock were exchanged, compared to its average volume of 319,295. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $9.21 billion, a PE ratio of 26.89, a P/E/G ratio of 1.75 and a beta of 1.56. WEX has a one year low of $131.35 and a one year high of $221.66. The firm’s 50 day moving average is $203.47 and its two-hundred day moving average is $201.05.
WEX (NYSE:WEX) last posted its quarterly earnings results on Thursday, August 1st. The business services provider reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.20. The company had revenue of $441.81 million during the quarter, compared to the consensus estimate of $440.49 million. WEX had a return on equity of 17.88% and a net margin of 6.84%. The firm’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.07 EPS. On average, sell-side analysts expect that WEX will post 8.33 earnings per share for the current year.
In other WEX news, CEO Melissa D. Smith sold 15,556 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $209.99, for a total value of $3,266,604.44. Following the sale, the chief executive officer now owns 78,839 shares of the company’s stock, valued at approximately $16,555,401.61. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Scott Robert Phillips sold 15,973 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $208.44, for a total value of $3,329,412.12. Following the completion of the sale, the insider now directly owns 9,850 shares in the company, valued at approximately $2,053,134. The disclosure for this sale can be found here. Company insiders own 1.12% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Cleararc Capital Inc. purchased a new stake in shares of WEX in the 1st quarter valued at about $213,000. Retirement Systems of Alabama raised its holdings in shares of WEX by 0.3% in the 2nd quarter. Retirement Systems of Alabama now owns 56,255 shares of the business services provider’s stock valued at $11,707,000 after acquiring an additional 145 shares in the last quarter. William Blair Investment Management LLC raised its holdings in shares of WEX by 0.7% in the 1st quarter. William Blair Investment Management LLC now owns 859,569 shares of the business services provider’s stock valued at $165,029,000 after acquiring an additional 6,130 shares in the last quarter. 361 Capital LLC purchased a new stake in shares of WEX in the 2nd quarter valued at about $1,084,000. Finally, Envestnet Asset Management Inc. raised its holdings in shares of WEX by 6.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 8,681 shares of the business services provider’s stock valued at $1,807,000 after buying an additional 549 shares in the last quarter. 98.99% of the stock is currently owned by hedge funds and other institutional investors.
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 processing services.
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