Shares of WEX Inc (NYSE:WEX) have been assigned an average recommendation of “Buy” from the seventeen analysts that are currently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $135.83.
WEX has been the topic of several recent research reports. Oppenheimer increased their target price on shares of WEX from $120.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday, November 2nd. SunTrust Banks upgraded shares of WEX from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a report on Tuesday, October 17th. TheStreet upgraded shares of WEX from a “c+” rating to a “b” rating in a report on Wednesday, November 1st. Zacks Investment Research upgraded shares of WEX from a “hold” rating to a “buy” rating and set a $134.00 target price on the stock in a report on Friday, October 13th. Finally, Citigroup increased their target price on shares of WEX from $120.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, November 3rd.
Shares of WEX (WEX) traded up $1.82 during trading on Friday, reaching $146.72. 244,683 shares of the company’s stock traded hands, compared to its average volume of 306,085. 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 one year low of $97.26 and a one year high of $147.32. The company has a market cap of $6,300.00, a PE ratio of 73.73, a price-to-earnings-growth ratio of 1.68 and a beta of 1.87.
WEX (NYSE:WEX) last issued its earnings results on Wednesday, November 1st. The business services provider reported $1.43 earnings per share (EPS) for the quarter, topping 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 company had revenue of $324.00 million for the quarter, compared to analysts’ expectations of $312.57 million. During the same period in the prior year, the business earned $1.25 EPS. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. research analysts predict that WEX will post 4.9 earnings per share for the current year.
WEX announced that its board has authorized a share repurchase plan on Tuesday, September 26th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the business services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
In related news, Director James Neary sold 177,207 shares of the stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $120.00, for a total value of $21,264,840.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott Robert Phillips sold 20,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $127.68, for a total transaction of $2,553,600.00. The disclosure for this sale can be found here. Insiders sold a total of 200,541 shares of company stock worth $24,235,190 over the last 90 days. Company insiders own 9.00% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC raised its position in shares of WEX by 104.3% in the 3rd quarter. Jane Street Group LLC now owns 1,786 shares of the business services provider’s stock valued at $200,000 after purchasing an additional 43,763 shares during the last quarter. Quantitative Systematic Strategies LLC purchased a new position in shares of WEX in the 3rd quarter valued at approximately $203,000. Raymond James Trust N.A. purchased a new position in shares of WEX in the 2nd quarter valued at approximately $202,000. Russell Investments Group Ltd. raised its position in shares of WEX by 6.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,967 shares of the business services provider’s stock valued at $205,000 after purchasing an additional 122 shares during the last quarter. Finally, Zions Bancorporation purchased a new position in shares of WEX in the 3rd quarter valued at approximately $221,000.
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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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