WEX Reaches New 52-Week High at $111.54 (WEX)
WEX (NYSE:WEX) shares reached a new 52-week high during trading on Monday , Stock Ratings Network reports. The stock traded as high as $111.54 and last traded at $111.15, with a volume of 77,888 shares. The stock had previously closed at $110.17.
A number of analysts have recently weighed in on WEX shares. Analysts at Jefferies Group raised their price target on shares of WEX from $111.00 to $125.00 in a research note on Monday, August 4th. They now have a “buy” rating on the stock. Separately, analysts at Keefe, Bruyette & Woods raised their price target on shares of WEX from $110.00 to $128.00 in a research note on Thursday, July 10th. Finally, analysts at Morgan Stanley initiated coverage on shares of WEX in a research note on Wednesday, July 9th. They set an “equal weight” rating and a $107.00 price target on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. WEX presently has a consensus rating of “Hold” and an average target price of $111.00.
The stock’s 50-day moving average is $106.0 and its 200-day moving average is $96.28. The company has a market cap of $4.287 billion and a P/E ratio of 27.14.
WEX (NYSE:WEX) last announced its earnings results on Wednesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.16. The company had revenue of $201.60 million for the quarter, compared to the consensus estimate of $195.30 million. Analysts expect that WEX will post $4.97 earnings per share for the current fiscal year.
WEX Inc, formerly Wright Express Corporation is a provider of corporate card payment solutions. The Company operates in two segments: Fleet Payment Solutions and Other Payment Solutions.
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