WEX Inc (WEX) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of WEX Inc (NYSE:WEX) have been assigned a consensus recommendation of “Buy” from the seventeen ratings firms that are presently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $141.83.

Several equities analysts recently weighed in on the stock. Morgan Stanley raised their price target on shares of WEX from $123.00 to $149.00 and gave the company an “equal weight” rating in a research report on Thursday, January 25th. Oppenheimer raised their price target on shares of WEX from $130.00 to $176.00 in a research report on Monday, February 5th. Citigroup raised their price target on shares of WEX from $120.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, November 3rd. Credit Suisse Group reiterated an “outperform” rating and issued a $167.00 price objective (up previously from $141.00) on shares of WEX in a research note on Wednesday, January 17th. They noted that the move was a valuation call. Finally, SunTrust Banks upgraded shares of WEX from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a research note on Tuesday, October 17th.

In other WEX news, insider Scott Robert Phillips sold 20,000 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $127.68, for a total value of $2,553,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Neary sold 177,207 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $120.00, for a total transaction of $21,264,840.00. The disclosure for this sale can be found here. Company insiders own 9.00% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC increased its stake in shares of WEX by 31.5% during the 3rd quarter. Janus Henderson Group PLC now owns 4,172,380 shares of the business services provider’s stock worth $468,224,000 after purchasing an additional 1,000,507 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of WEX by 13.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,993,322 shares of the business services provider’s stock worth $452,522,000 after purchasing an additional 468,452 shares during the last quarter. BlackRock Inc. increased its stake in shares of WEX by 2.8% during the 4th quarter. BlackRock Inc. now owns 3,266,378 shares of the business services provider’s stock worth $461,309,000 after purchasing an additional 89,537 shares during the last quarter. Atlanta Capital Management Co. L L C increased its stake in shares of WEX by 5.2% during the 3rd quarter. Atlanta Capital Management Co. L L C now owns 3,159,659 shares of the business services provider’s stock worth $354,577,000 after purchasing an additional 156,252 shares during the last quarter. Finally, TimesSquare Capital Management LLC increased its stake in shares of WEX by 1.5% during the 3rd quarter. TimesSquare Capital Management LLC now owns 1,677,613 shares of the business services provider’s stock worth $188,262,000 after purchasing an additional 24,199 shares during the last quarter.

Shares of WEX (NYSE:WEX) traded down $1.28 during midday trading on Tuesday, reaching $138.59. 355,373 shares of the company traded hands, compared to its average volume of 358,649. WEX has a twelve month low of $97.26 and a twelve month high of $156.85. The company has a market cap of $5,815.15, a PE ratio of 69.64, a price-to-earnings-growth ratio of 1.45 and a beta of 1.91. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.69 and a current ratio of 0.69.

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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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