WEX Inc. (NYSE:WEX) Receives Average Rating of “Hold” from Analysts

WEX Inc. (NYSE:WEX) has earned an average rating of “Hold” from the fifteen research firms that are presently covering the company, Marketbeat.com reports. Ten equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $173.70.

Several research analysts have commented on the stock. Morgan Stanley increased their price objective on shares of WEX from $161.00 to $172.00 and gave the company an “equal weight” rating in a report on Tuesday. Loop Capital initiated coverage on WEX in a research report on Monday, April 27th. They issued a “buy” rating and a $195.00 target price on the stock. Cantor Fitzgerald dropped their price target on WEX from $173.00 to $152.00 and set a “neutral” rating for the company in a research note on Monday, June 29th. Robert W. Baird raised their price target on WEX from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Finally, Evercore upgraded WEX to an “outperform” rating in a report on Tuesday.

WEX Price Performance

WEX stock opened at $160.76 on Friday. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.05 and a current ratio of 1.05. The company’s fifty day moving average price is $144.52 and its 200-day moving average price is $152.36. WEX has a one year low of $125.29 and a one year high of $186.85. The company has a market capitalization of $5.57 billion, a PE ratio of 18.04, a price-to-earnings-growth ratio of 1.00 and a beta of 0.85.

WEX (NYSE:WEX) last posted its earnings results on Wednesday, April 22nd. The business services provider reported $4.15 earnings per share for the quarter, beating the consensus estimate of $3.92 by $0.23. The company had revenue of $673.80 million during the quarter, compared to analysts’ expectations of $660.96 million. WEX had a net margin of 11.50% and a return on equity of 42.66%. WEX’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the company posted $3.51 earnings per share. On average, equities analysts anticipate that WEX will post 16.81 EPS for the current fiscal year.

WEX declared that its board has authorized a share repurchase plan on Thursday, May 14th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the business services provider to purchase up to 21.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at WEX

In other WEX news, Director James R. Groch acquired 1,500 shares of the company’s stock in a transaction on Monday, May 18th. The stock was acquired at an average cost of $142.95 per share, with a total value of $214,425.00. Following the purchase, the director directly owned 17,957 shares of the company’s stock, valued at approximately $2,566,953.15. This represents a 9.11% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Robert Joseph Deshaies sold 2,000 shares of the business’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $148.40, for a total transaction of $296,800.00. Following the completion of the sale, the chief operating officer owned 20,288 shares in the company, valued at approximately $3,010,739.20. This trade represents a 8.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. lifted its stake in shares of WEX by 158.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 350,892 shares of the business services provider’s stock valued at $55,097,000 after purchasing an additional 215,036 shares during the last quarter. Empowered Funds LLC bought a new position in shares of WEX during the 1st quarter valued at approximately $394,000. American Century Companies Inc. increased its position in shares of WEX by 1.9% during the 2nd quarter. American Century Companies Inc. now owns 3,205 shares of the business services provider’s stock valued at $471,000 after purchasing an additional 60 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in WEX by 4,837.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 395 shares of the business services provider’s stock valued at $58,000 after buying an additional 387 shares during the period. Finally, Gamco Investors INC. ET AL purchased a new stake in WEX during the 2nd quarter valued at $271,000. Institutional investors own 97.47% of the company’s stock.

About WEX

WEX Inc is a global financial technology company specializing in business payment solutions for fleet, travel, and corporate payments. The company delivers software-driven platforms and card-based services that help businesses automate payment processes, manage expenses and improve operational efficiency across a range of industries, including transportation, healthcare and government.

Founded in 1983 as Wright Express in Portland, Maine, the company began by offering fuel card services to trucking fleets.