WEX Inc (WEX) Given Average Recommendation of “Buy” by Brokerages

WEX Inc (NYSE:WEX) has received a consensus rating of “Buy” from the eighteen research firms that are currently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $151.08.

Several equities analysts recently issued reports on the stock. Morgan Stanley reissued an “equal weight” rating and set a $166.00 price objective (up from $159.00) on shares of WEX in a report on Wednesday. Zacks Investment Research lowered shares of WEX from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Mizuho reaffirmed a “buy” rating and issued a $185.00 price target on shares of WEX in a report on Friday, February 23rd. Barclays reaffirmed an “equal weight” rating and issued a $170.00 price target (up from $163.00) on shares of WEX in a report on Thursday, February 22nd. Finally, Wells Fargo & Co set a $160.00 price target on shares of WEX and gave the stock a “hold” rating in a report on Thursday, February 22nd.

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In other news, insider Nicola S. Morris sold 2,700 shares of WEX stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $149.47, for a total transaction of $403,569.00. Following the completion of the sale, the insider now directly owns 6,387 shares in the company, valued at $954,664.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 9.00% of the company’s stock.

Several large investors have recently bought and sold shares of WEX. Nationwide Fund Advisors lifted its stake in shares of WEX by 9.0% during the third quarter. Nationwide Fund Advisors now owns 168,979 shares of the business services provider’s stock worth $18,963,000 after buying an additional 13,967 shares during the period. First Trust Advisors LP lifted its stake in shares of WEX by 46.7% during the third quarter. First Trust Advisors LP now owns 27,673 shares of the business services provider’s stock worth $3,105,000 after buying an additional 8,804 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in shares of WEX during the third quarter worth $451,000. State Board of Administration of Florida Retirement System lifted its stake in shares of WEX by 3.3% during the third quarter. State Board of Administration of Florida Retirement System now owns 47,531 shares of the business services provider’s stock worth $5,334,000 after buying an additional 1,540 shares during the period. Finally, Prudential Financial Inc. lifted its stake in shares of WEX by 4.2% during the third quarter. Prudential Financial Inc. now owns 25,336 shares of the business services provider’s stock worth $2,843,000 after buying an additional 1,010 shares during the period.

Shares of WEX (WEX) traded down $0.44 during mid-day trading on Friday, reaching $158.22. 166,459 shares of the company traded hands, compared to its average volume of 368,496. The stock has a market capitalization of $6,789.59, a price-to-earnings ratio of 42.65, a price-to-earnings-growth ratio of 1.58 and a beta of 1.87. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.20. WEX has a 12 month low of $97.26 and a 12 month high of $161.06.

WEX (NYSE:WEX) last issued its quarterly earnings data on Wednesday, February 21st. The business services provider reported $1.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.16. The company had revenue of $331.30 million for the quarter, compared to analyst estimates of $327.19 million. WEX had a net margin of 12.82% and a return on equity of 13.01%. WEX’s revenue was up 13.9% compared to the same quarter last year. During the same period last year, the company posted $1.28 earnings per share. analysts anticipate that WEX will post 6.95 EPS for the current fiscal year.

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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.

Analyst Recommendations for WEX (NYSE:WEX)

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