WEX (NYSE:WEX)‘s stock had its “buy” rating reissued by investment analysts at Mizuho in a research report issued on Thursday, January 4th. They currently have a $180.00 price target on the business services provider’s stock. Mizuho’s price target would suggest a potential upside of 24.14% from the stock’s previous close.
Several other equities research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of WEX from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Citigroup increased their target price on shares of WEX from $120.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, November 3rd. TheStreet raised shares of WEX from a “c+” rating to a “b” rating in a research note on Wednesday, November 1st. Barclays raised their price target on shares of WEX from $124.00 to $129.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 2nd. Finally, Oppenheimer raised their price target on shares of WEX from $120.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, November 2nd. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. WEX has an average rating of “Buy” and a consensus price target of $133.08.
Shares of WEX (NYSE:WEX) traded up $2.52 during midday trading on Thursday, hitting $145.00. 269,123 shares of the stock were exchanged, compared to its average volume of 318,090. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.20. WEX has a 1 year low of $97.26 and a 1 year high of $146.74. The stock has a market capitalization of $6,130.00, a PE ratio of 72.86, a PEG ratio of 1.69 and a beta of 1.87.
WEX (NYSE:WEX) last announced its earnings results on Wednesday, November 1st. The business services provider reported $1.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.14. WEX had a net margin of 7.09% and a return on equity of 13.16%. The business had revenue of $324.00 million for the quarter, compared to the consensus estimate of $312.57 million. During the same quarter in the prior year, the firm posted $1.25 earnings per share. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. sell-side analysts expect that WEX will post 4.9 earnings per share for the current fiscal year.
WEX announced that its Board of Directors has approved a stock repurchase plan on Tuesday, September 26th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the business services provider to purchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
In other WEX news, Director James Neary sold 177,207 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $120.00, for a total value of $21,264,840.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Melissa D. Smith sold 3,329 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $125.00, for a total transaction of $416,125.00. Following the sale, the chief executive officer now owns 60,380 shares in the company, valued at $7,547,500. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 200,541 shares of company stock valued at $24,235,190. Company insiders own 9.00% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in WEX. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of WEX by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,634 shares of the business services provider’s stock valued at $587,000 after acquiring an additional 16 shares during the period. Northwestern Mutual Investment Management Company LLC raised its position in WEX by 0.8% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 6,681 shares of the business services provider’s stock worth $592,000 after acquiring an additional 53 shares in the last quarter. Russell Investments Group Ltd. raised its position in WEX by 6.6% in the second quarter. Russell Investments Group Ltd. now owns 1,967 shares of the business services provider’s stock worth $205,000 after acquiring an additional 122 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in WEX by 9.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,850 shares of the business services provider’s stock worth $193,000 after acquiring an additional 162 shares in the last quarter. Finally, Utah Retirement Systems raised its position in WEX by 2.9% in the second quarter. Utah Retirement Systems now owns 7,200 shares of the business services provider’s stock worth $751,000 after acquiring an additional 200 shares in the last quarter.
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WEX Company Profile
WEX Inc is a provider of corporate payment solutions. The Company operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment provides customers with payment and transaction processing services designed for the needs of commercial and government fleets.
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