Shares of WEX Inc (NYSE:WEX) have been assigned a consensus rating of “Buy” from the eighteen ratings firms that are covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $225.64.
Several brokerages have commented on WEX. Raymond James began coverage on WEX in a report on Monday, September 30th. They issued a “market perform” rating and a $260.00 price objective on the stock. Citigroup lifted their price objective on WEX from $235.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Morgan Stanley lifted their price objective on WEX from $197.00 to $204.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. BTIG Research lifted their price objective 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 upgraded WEX from a “hold” rating to a “buy” rating and set a $214.00 price objective on the stock in a research report on Saturday, June 15th.
WEX stock opened at $206.09 on Monday. The stock has a 50-day moving average of $202.98 and a two-hundred day moving average of $203.48. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.42 and a current ratio of 1.42. WEX has a one year low of $131.35 and a one year high of $221.66. The stock has a market cap of $8.46 billion, a PE ratio of 26.98, a price-to-earnings-growth ratio of 1.60 and a beta of 1.56.
WEX (NYSE:WEX) last released its quarterly earnings results on Thursday, August 1st. The business services provider reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.20. WEX had a return on equity of 17.88% and a net margin of 6.84%. The company had revenue of $441.81 million during the quarter, compared to analysts’ expectations of $440.49 million. During the same period last year, the business posted $2.07 earnings per share. The firm’s revenue was up 19.2% compared to the same quarter last year. As a group, sell-side analysts predict that WEX will post 8.36 EPS for the current fiscal year.
In other WEX news, insider Scott Robert Phillips sold 15,973 shares of WEX stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $208.44, for a total value of $3,329,412.12. Following the sale, the insider now owns 9,850 shares in the company, valued at $2,053,134. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Melissa D. Smith sold 15,556 shares of WEX stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $209.99, for a total value of $3,266,604.44. Following the completion of the sale, the chief executive officer now owns 78,839 shares in the company, valued at approximately $16,555,401.61. The disclosure for this sale can be found here. 1.12% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of WEX. US Bancorp DE grew its stake in WEX by 67.0% during the 1st quarter. US Bancorp DE now owns 2,314 shares of the business services provider’s stock worth $444,000 after purchasing an additional 928 shares in the last quarter. Parametric Portfolio Associates LLC boosted its position in shares of WEX by 4.7% during the 1st quarter. Parametric Portfolio Associates LLC now owns 70,832 shares of the business services provider’s stock worth $13,599,000 after acquiring an additional 3,175 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of WEX by 20.8% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 302 shares of the business services provider’s stock worth $58,000 after acquiring an additional 52 shares in the last quarter. Swiss National Bank boosted its position in shares of WEX by 3.0% during the 1st quarter. Swiss National Bank now owns 78,526 shares of the business services provider’s stock worth $15,076,000 after acquiring an additional 2,300 shares in the last quarter. Finally, Rockefeller Capital Management L.P. acquired a new position in shares of WEX during the 1st quarter worth about $96,000. 98.99% of the stock is owned by institutional investors and hedge funds.
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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