Wex Inc. (WEX) Receives $99.50 Consensus Target Price from Analysts
Wex Inc. (NYSE:WEX) has earned a consensus rating of “Hold” from the seventeen research firms that are presently covering the firm. Eleven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $99.50.
Several analysts have weighed in on WEX shares. Credit Agricole SA raised Wex from an “underperform” rating to an “outperform” rating and lifted their price objective for the company from $97.00 to $115.00 in a research report on Thursday, September 1st. Zacks Investment Research cut Wex from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 7th. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $120.00 price target (up from $101.00) on shares of Wex in a research report on Tuesday, November 1st. Credit Suisse Group AG cut Wex from an “outperform” rating to a “neutral” rating and boosted their price target for the stock from $108.00 to $113.00 in a research report on Monday, October 31st. They noted that the move was a valuation call. Finally, TheStreet cut Wex from a “buy” rating to a “hold” rating in a research report on Wednesday, July 27th.
Shares of Wex (NYSE:WEX) opened at 106.45 on Monday. The firm has a 50-day moving average price of $105.39 and a 200-day moving average price of $97.41. Wex has a 52-week low of $54.42 and a 52-week high of $114.59. The stock has a market capitalization of $4.55 billion, a P/E ratio of 55.53 and a beta of 1.85.
Wex (NYSE:WEX) last posted its quarterly earnings data on Thursday, October 27th. The company reported $1.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.12. The business had revenue of $287.80 million for the quarter, compared to analysts’ expectations of $279.28 million. Wex had a return on equity of 13.70% and a net margin of 8.11%. The business’s revenue was up 27.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.29 EPS. On average, analysts predict that Wex will post $4.56 EPS for the current year.
In other news, Director Michael E. Dubyak sold 5,500 shares of the company’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $99.52, for a total value of $547,360.00. Following the completion of the sale, the director now directly owns 55,416 shares in the company, valued at approximately $5,515,000.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP George W. Hogan sold 1,950 shares of the company’s stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $103.88, for a total value of $202,566.00. Following the completion of the sale, the senior vice president now owns 12,824 shares of the company’s stock, valued at $1,332,157.12. The disclosure for this sale can be found here. Company insiders own 0.86% of the company’s stock.
Several large investors have recently bought and sold shares of the company. US Bancorp DE raised its stake in Wex by 41.2% in the third quarter. US Bancorp DE now owns 959 shares of the company’s stock valued at $104,000 after buying an additional 280 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Wex by 13.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,278 shares of the company’s stock valued at $138,000 after buying an additional 152 shares during the period. LS Investment Advisors LLC raised its stake in Wex by 73.7% in the second quarter. LS Investment Advisors LLC now owns 2,340 shares of the company’s stock valued at $207,000 after buying an additional 993 shares during the period. Penserra Capital Management LLC raised its stake in Wex by 6.0% in the second quarter. Penserra Capital Management LLC now owns 2,344 shares of the company’s stock valued at $208,000 after buying an additional 133 shares during the period. Finally, Raymond James Trust N.A. bought a new stake in Wex during the third quarter valued at approximately $211,000. Hedge funds and other institutional investors own 92.49% 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.
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