Wex Inc. (NYSE:WEX) Receives Average Rating of “Hold” from Analysts
Wex Inc. (NYSE:WEX) has been given a consensus recommendation of “Hold” by the nineteen ratings firms that are covering the firm. Eleven equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $95.13.
WEX has been the topic of several recent analyst reports. Credit Agricole SA upgraded shares of Wex from an “underperform” rating to an “outperform” rating and boosted their price objective for the stock from $97.00 to $115.00 in a research note on Thursday, September 1st. Zacks Investment Research lowered shares of Wex from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 7th. SunTrust Banks Inc. initiated coverage on shares of Wex in a research note on Friday, June 24th. They set a “neutral” rating and a $100.00 price objective on the stock. Barclays PLC upgraded shares of Wex from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $80.00 to $98.00 in a research note on Thursday, July 7th. Finally, TheStreet lowered shares of Wex from a “buy” rating to a “hold” rating in a research note on Wednesday, July 27th.
Wex (NYSE:WEX) traded up 2.21% on Monday, reaching $106.30. 89,442 shares of the company traded hands. Wex has a 52-week low of $54.42 and a 52-week high of $108.86. The firm has a market cap of $4.54 billion, a P/E ratio of 46.62 and a beta of 1.92. The stock has a 50-day moving average price of $103.47 and a 200-day moving average price of $93.41.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/10/wex-inc-nysewex-receives-average-rating-of-hold-from-analysts.html
Wex (NYSE:WEX) last released its quarterly earnings data on Wednesday, July 27th. The company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.06. The company had revenue of $233.90 million for the quarter, compared to analyst estimates of $221.64 million. Wex had a net margin of 10.10% and a return on equity of 14.77%. Wex’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.25 EPS. Analysts anticipate that Wex will post $4.31 earnings per share for the current fiscal year.
In other news, Director Eric Duprat sold 1,100 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $93.73, for a total value of $103,103.00. Following the completion of the transaction, the director now directly owns 1,593 shares in the company, valued at approximately $149,311.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Stephen R. Crowley sold 1,808 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $90.95, for a total transaction of $164,437.60. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the stock. Williams Jones & Associates LLC purchased a new position in shares of Wex during the second quarter valued at approximately $22,951,000. Mason Street Advisors LLC purchased a new position in shares of Wex during the second quarter valued at approximately $1,565,000. Royal Bank of Canada boosted its position in shares of Wex by 7.4% in the second quarter. Royal Bank of Canada now owns 146,446 shares of the company’s stock valued at $12,985,000 after buying an additional 10,081 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Wex by 0.7% in the second quarter. Public Employees Retirement System of Ohio now owns 44,522 shares of the company’s stock valued at $3,948,000 after buying an additional 326 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Wex by 6.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 143,348 shares of the company’s stock valued at $12,711,000 after buying an additional 8,478 shares during the last quarter. Institutional investors own 93.02% of the company’s stock.
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.
Receive News & Ratings for Wex Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wex Inc. and related companies with MarketBeat.com's FREE daily email newsletter.