WEX Inc (NYSE:WEX) has been given an average recommendation of “Buy” by the nineteen ratings firms that are covering the stock, Marketbeat reports. Seven equities research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $238.06.
WEX has been the subject of several research reports. Cowen initiated coverage on WEX in a report on Friday, January 31st. They issued a “market perform” rating and a $249.00 target price for the company. Credit Suisse Group initiated coverage on WEX in a report on Thursday, January 23rd. They issued a “neutral” rating and a $240.00 target price for the company. Deutsche Bank upped their target price on WEX from $226.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, December 16th. SunTrust Banks cut WEX from a “buy” rating to a “hold” rating and set a $220.00 target price for the company. in a report on Wednesday, January 29th. Finally, Jefferies Financial Group upped their target price on WEX from $215.00 to $230.00 and gave the stock a “hold” rating in a report on Tuesday. They noted that the move was a valuation call.
In other WEX news, CEO Melissa D. Smith sold 13,736 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 71,339 shares in the company, valued at $15,337,171.61. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Roberto Simon sold 7,651 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $200.03, for a total value of $1,530,429.53. Following the completion of the sale, the chief financial officer now owns 16,902 shares of the company’s stock, valued at $3,380,907.06. The disclosure for this sale can be found here. Corporate insiders own 1.12% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Cullen Frost Bankers Inc. purchased a new stake in WEX in the third quarter valued at about $25,000. Chevy Chase Trust Holdings Inc. purchased a new stake in WEX in the fourth quarter valued at about $34,000. Solstein Capital LLC purchased a new stake in WEX in the fourth quarter valued at about $37,000. Banque Cantonale Vaudoise purchased a new stake in WEX in the fourth quarter valued at about $53,000. Finally, Quest Capital Management Inc. ADV purchased a new stake in WEX in the third quarter valued at about $76,000. Institutional investors own 98.26% of the company’s stock.
WEX stock traded up $2.19 during mid-day trading on Friday, hitting $230.81. The company’s stock had a trading volume of 19,356 shares, compared to its average volume of 377,348. The company has a 50 day moving average of $218.46 and a 200-day moving average of $206.15. The stock has a market cap of $9.29 billion, a PE ratio of 152.48, a P/E/G ratio of 1.53 and a beta of 1.51. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.30 and a current ratio of 1.30. WEX has a one year low of $169.48 and a one year high of $234.95.
WEX (NYSE:WEX) last announced its quarterly earnings data on Thursday, February 13th. The business services provider reported $2.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.56 by $0.05. WEX had a return on equity of 18.86% and a net margin of 3.95%. The company had revenue of $440.05 million for the quarter, compared to the consensus estimate of $455.69 million. During the same quarter in the prior year, the company posted $2.02 EPS. WEX’s quarterly revenue was up 15.4% on a year-over-year basis. On average, equities research analysts forecast that WEX will post 8.39 EPS for the current fiscal year.
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.
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