WEX Inc (NYSE:WEX) has been assigned an average recommendation of “Buy” from the seventeen ratings firms that are covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $223.00.
Several research analysts have recently issued reports on the company. Morgan Stanley increased their target price on WEX from $197.00 to $204.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Citigroup set a $260.00 target price on WEX and gave the stock a “buy” rating in a research report on Friday, July 19th. Barclays decreased their target price on WEX from $260.00 to $253.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. BTIG Research increased their target price on WEX from $225.00 to $255.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Finally, Zacks Investment Research raised WEX from a “hold” rating to a “buy” rating and set a $214.00 target price for the company in a research report on Saturday, June 15th.
Shares of NYSE:WEX traded up $4.98 during trading on Friday, hitting $199.48. The stock had a trading volume of 162,900 shares, compared to its average volume of 345,726. WEX has a 12 month low of $131.35 and a 12 month high of $221.66. The company has a market capitalization of $8.42 billion, a PE ratio of 26.11, a PEG ratio of 1.59 and a beta of 1.55. The firm’s fifty day moving average is $209.94 and its 200 day moving average is $195.96. The company has a quick ratio of 1.39, a current ratio of 1.42 and a debt-to-equity ratio of 1.50.
WEX (NYSE:WEX) last announced its earnings results on Thursday, August 1st. The business services provider reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.20. WEX had a return on equity of 17.88% and a net margin of 6.84%. The firm had revenue of $441.81 million during the quarter, compared to analyst estimates of $440.49 million. During the same quarter in the prior year, the company earned $2.07 EPS. The business’s revenue was up 19.2% compared to the same quarter last year. Equities research analysts expect that WEX will post 8.38 EPS for the current fiscal year.
In related news, Director Michael E. Dubyak sold 1,048 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $204.31, for a total value of $214,116.88. Following the sale, the director now owns 33,484 shares in the company, valued at approximately $6,841,116.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott Robert Phillips sold 8,298 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $205.00, for a total value of $1,701,090.00. Following the completion of the sale, the insider now owns 9,850 shares in the company, valued at approximately $2,019,250. The disclosure for this sale can be found here. Insiders sold a total of 14,346 shares of company stock worth $2,940,207 in the last 90 days. 1.12% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of WEX. Cleararc Capital Inc. purchased a new position in shares of WEX during the first quarter valued at approximately $213,000. Retirement Systems of Alabama raised its stake in shares of WEX by 0.3% during the second 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 position in shares of WEX by 0.7% during the 1st quarter. William Blair Investment Management LLC now owns 859,569 shares of the business services provider’s stock worth $165,029,000 after purchasing an additional 6,130 shares during the last quarter. Alta Capital Management LLC acquired a new position in shares of WEX during the 1st quarter worth about $266,000. Finally, Columbus Circle Investors raised its position in shares of WEX by 26.1% during the 1st quarter. Columbus Circle Investors now owns 177,755 shares of the business services provider’s stock worth $34,127,000 after purchasing an additional 36,816 shares during the last quarter. Institutional investors and hedge funds own 98.79% of the company’s stock.
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 processing services.
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