WEX (NYSE:WEX) had its price target lifted by Morgan Stanley from $204.00 to $222.00 in a research note released on Thursday, BenzingaRatingsTable reports. They currently have an equal weight rating on the business services provider’s stock.
WEX has been the topic of several other research reports. Wolfe Research set a $240.00 target price on shares of WEX and gave the company a buy rating in a research note on Friday, November 1st. Deutsche Bank lifted their price target on shares of WEX from $226.00 to $250.00 and gave the stock a buy rating in a research note on Monday, December 16th. Citigroup upped their price target on shares of WEX from $220.00 to $260.00 and gave the company a buy rating in a report on Wednesday. Robert W. Baird raised shares of WEX from a neutral rating to an outperform rating and set a $234.00 price objective on the stock in a research report on Friday, November 1st. Finally, SunTrust Banks decreased their price objective on shares of WEX from $240.00 to $220.00 and set a buy rating for the company in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company’s stock. WEX has a consensus rating of Buy and an average price target of $234.87.
WEX stock traded up $7.61 during mid-day trading on Thursday, reaching $230.00. 653,011 shares of the company’s stock traded hands, compared to its average volume of 278,167. WEX has a 12-month low of $155.96 and a 12-month high of $234.95. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.46. The stock has a 50 day moving average of $210.90 and a two-hundred day moving average of $205.71. The company has a market cap of $10.01 billion, a price-to-earnings ratio of 152.32, a PEG ratio of 1.57 and a beta of 1.53.
WEX (NYSE:WEX) last issued its quarterly earnings data on Thursday, October 31st. The business services provider reported $2.59 EPS for the quarter, topping analysts’ consensus estimates of $2.35 by $0.24. WEX had a net margin of 3.95% and a return on equity of 18.86%. The business had revenue of $459.96 million during the quarter, compared to analysts’ expectations of $460.00 million. During the same period last year, the company posted $2.23 EPS. The business’s revenue was up 19.0% on a year-over-year basis. As a group, sell-side analysts forecast that WEX will post 8.38 earnings per share for the current year.
In other news, CFO Roberto Simon sold 7,651 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $200.03, for a total transaction of $1,530,429.53. Following the transaction, the chief financial officer now owns 16,902 shares of the company’s stock, valued at approximately $3,380,907.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Melissa D. Smith sold 13,736 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $214.99, for a total value of $2,953,102.64. Following the transaction, the chief executive officer now directly owns 71,339 shares in the company, valued at approximately $15,337,171.61. The disclosure for this sale can be found here. Insiders have sold a total of 25,152 shares of company stock worth $5,226,127 in the last three months. Corporate insiders own 1.12% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Davis R M Inc. grew its position in shares of WEX by 33.9% during the 4th quarter. Davis R M Inc. now owns 91,778 shares of the business services provider’s stock worth $19,224,000 after buying an additional 23,250 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in shares of WEX by 0.5% during the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,232,337 shares of the business services provider’s stock worth $258,125,000 after buying an additional 6,578 shares in the last quarter. NEXT Financial Group Inc bought a new position in shares of WEX during the 4th quarter worth $202,000. Squar Milner Financial Services LLC grew its position in shares of WEX by 709.2% during the 4th quarter. Squar Milner Financial Services LLC now owns 615 shares of the business services provider’s stock worth $128,000 after buying an additional 539 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. bought a new position in shares of WEX during the 4th quarter worth $297,000. 98.85% of the stock is currently owned by institutional investors and hedge funds.
WEX Company Profile
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.
Further Reading: Sell-Side Analysts
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