WEX Inc (NYSE:WEX) has been assigned an average rating of “Buy” from the seventeen research firms that are covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $223.00.
WEX has been the subject of several research analyst reports. Zacks Investment Research upgraded WEX from a “hold” rating to a “buy” rating and set a $214.00 price target for the company in a research report on Saturday, June 15th. BTIG Research increased their price objective on WEX from $225.00 to $255.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Barclays reduced their price objective on WEX from $260.00 to $253.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Deutsche Bank increased their price objective on WEX from $209.00 to $223.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Finally, TheStreet cut WEX from a “b” rating to a “c+” rating in a research note on Monday, August 5th.
In other news, insider Scott Robert Phillips sold 15,973 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $208.44, for a total value of $3,329,412.12. Following the sale, the insider now directly owns 9,850 shares in the company, valued at $2,053,134. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Melissa D. Smith sold 15,556 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $209.99, for a total value of $3,266,604.44. Following the completion of the sale, the chief executive officer now owns 78,839 shares in the company, valued at $16,555,401.61. The disclosure for this sale can be found here. 1.12% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of the business. Treasurer of the State of North Carolina raised its stake in WEX by 1.1% in the second quarter. Treasurer of the State of North Carolina now owns 17,269 shares of the business services provider’s stock valued at $3,594,000 after buying an additional 187 shares in the last quarter. BlackRock Inc. raised its stake in WEX by 1.5% in the second quarter. BlackRock Inc. now owns 3,892,337 shares of the business services provider’s stock valued at $809,995,000 after buying an additional 56,101 shares in the last quarter. Royal Bank of Canada raised its stake in WEX by 1.3% in the second quarter. Royal Bank of Canada now owns 131,622 shares of the business services provider’s stock valued at $27,391,000 after buying an additional 1,700 shares in the last quarter. Tortoise Index Solutions LLC raised its stake in WEX by 8.1% in the second quarter. Tortoise Index Solutions LLC now owns 682 shares of the business services provider’s stock valued at $142,000 after buying an additional 51 shares in the last quarter. Finally, united american securities inc. d b a uas asset management acquired a new stake in WEX in the second quarter valued at $1,238,000. Institutional investors own 99.37% of the company’s stock.
Shares of WEX traded up $0.72 during midday trading on Thursday, hitting $206.71. 3,525 shares of the stock were exchanged, compared to its average volume of 320,779. WEX has a 52-week low of $131.35 and a 52-week high of $221.66. The stock has a fifty day simple moving average of $204.73 and a 200 day simple moving average of $200.14. The firm has a market cap of $8.83 billion, a P/E ratio of 27.11, a P/E/G ratio of 1.68 and a beta of 1.56. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.42 and a current ratio of 1.42.
WEX (NYSE:WEX) last released its quarterly earnings results on Thursday, August 1st. The business services provider reported $2.28 EPS for the quarter, topping the consensus estimate of $2.08 by $0.20. WEX had a return on equity of 17.88% and a net margin of 6.84%. The business had revenue of $441.81 million during the quarter, compared to analyst estimates of $440.49 million. During the same period last year, the business posted $2.07 earnings per share. The company’s quarterly revenue was up 19.2% on a year-over-year basis. As a group, equities research analysts forecast that WEX will post 8.33 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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