Wex Inc. (NYSE:WEX) Receives Average Rating of “Hold” from Analysts
Wex Inc. (NYSE:WEX) has received a consensus rating of “Hold” from the nineteen analysts that are presently covering the company. Eleven research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $95.13.
WEX has been the subject of several analyst reports. Jefferies Group boosted their price objective on Wex from $114.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, September 19th. Zacks Investment Research downgraded Wex from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 7th. Barclays PLC upgraded 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 report on Thursday, July 7th. Deutsche Bank AG boosted their price objective on Wex from $83.00 to $90.00 and gave the stock a “hold” rating in a research report on Thursday, July 28th. Finally, Morgan Stanley boosted their price objective on Wex from $94.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 28th.
In other Wex news, SVP Stephen R. Crowley sold 1,808 shares of the business’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $90.95, for a total transaction of $164,437.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Eric Duprat sold 1,100 shares of the business’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $93.73, for a total transaction of $103,103.00. Following the sale, the director now directly owns 1,593 shares in the company, valued at $149,311.89. The disclosure for this sale can be found here. Company insiders own 0.86% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Riverhead Capital Management LLC increased its position in Wex by 1,439.3% in the first quarter. Riverhead Capital Management LLC now owns 120,063 shares of the company’s stock worth $10,008,000 after buying an additional 112,263 shares during the period. Forward Management LLC increased its position in Wex by 6.1% in the first quarter. Forward Management LLC now owns 8,692 shares of the company’s stock worth $725,000 after buying an additional 497 shares during the period. Rafferty Asset Management LLC increased its position in Wex by 49.5% in the first quarter. Rafferty Asset Management LLC now owns 5,107 shares of the company’s stock worth $426,000 after buying an additional 1,691 shares during the period. State Street Corp increased its position in Wex by 1.9% in the first quarter. State Street Corp now owns 1,025,183 shares of the company’s stock worth $85,459,000 after buying an additional 19,307 shares during the period. Finally, OMERS ADMINISTRATION Corp bought a new position in Wex during the first quarter worth $542,000. 93.02% of the stock is currently owned by institutional investors.
Wex (NYSE:WEX) traded up 2.21% during trading on Monday, reaching $106.30. The company’s stock had a trading volume of 89,442 shares. The firm has a 50-day moving average price of $103.47 and a 200-day moving average price of $93.41. The firm has a market capitalization of $4.54 billion, a P/E ratio of 46.62 and a beta of 1.92. Wex has a 52 week low of $54.42 and a 52 week high of $108.86.
Wex (NYSE:WEX) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.06. The business earned $233.90 million during the quarter, compared to the consensus estimate of $221.64 million. Wex had a return on equity of 14.77% and a net margin of 10.10%. The business’s revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.25 earnings per share. On average, equities analysts anticipate that Wex will post $4.31 EPS for the current fiscal year.
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.
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