WEX Inc. (NYSE:WEX) Receives $235.91 Average Price Target from Brokerages

WEX Inc. (NYSE:WEX) has received an average recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $235.91.

Several brokerages have recently issued reports on WEX. JPMorgan Chase & Co. decreased their target price on shares of WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 20th. Jefferies Financial Group raised their price objective on WEX from $190.00 to $210.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Robert W. Baird dropped their target price on WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Wolfe Research lowered WEX from an “outperform” rating to a “peer perform” rating in a report on Monday, October 28th. Finally, Wells Fargo & Company lowered their price target on WEX from $200.00 to $180.00 and set an “equal weight” rating for the company in a research report on Friday, October 25th.

WEX Price Performance

NYSE:WEX opened at $189.80 on Friday. The business’s 50-day moving average is $195.19 and its 200 day moving average is $187.53. WEX has a 12 month low of $165.51 and a 12 month high of $244.04. The company has a market capitalization of $7.55 billion, a P/E ratio of 24.09, a P/E/G ratio of 1.47 and a beta of 1.57. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.87.

WEX (NYSE:WEX) last posted its earnings results on Thursday, October 24th. The business services provider reported $4.35 EPS for the quarter, beating analysts’ consensus estimates of $3.82 by $0.53. WEX had a return on equity of 31.35% and a net margin of 12.45%. The firm had revenue of $665.50 million during the quarter, compared to the consensus estimate of $688.03 million. During the same period in the prior year, the company earned $3.44 EPS. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, equities research analysts forecast that WEX will post 13.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Jagtar Narula sold 508 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $200.00, for a total value of $101,600.00. Following the completion of the sale, the chief financial officer now directly owns 7,120 shares of the company’s stock, valued at $1,424,000. This represents a 6.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On WEX

Institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC lifted its stake in shares of WEX by 0.6% during the 3rd quarter. Janus Henderson Group PLC now owns 4,163,678 shares of the business services provider’s stock worth $873,251,000 after purchasing an additional 25,365 shares during the last quarter. FMR LLC increased its stake in WEX by 8.8% during the 3rd quarter. FMR LLC now owns 1,555,507 shares of the business services provider’s stock valued at $326,237,000 after purchasing an additional 125,262 shares in the last quarter. State Street Corp increased its position in shares of WEX by 0.3% in the 3rd quarter. State Street Corp now owns 1,240,953 shares of the business services provider’s stock valued at $260,265,000 after acquiring an additional 3,882 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in shares of WEX by 5.6% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 914,250 shares of the business services provider’s stock worth $173,561,000 after purchasing an additional 48,182 shares during the last quarter. Finally, River Road Asset Management LLC raised its position in WEX by 5.0% during the 3rd quarter. River Road Asset Management LLC now owns 720,465 shares of the business services provider’s stock worth $151,103,000 after buying an additional 34,264 shares during the last quarter. 97.47% of the stock is owned by hedge funds and other institutional investors.

WEX Company Profile

WEX Inc operates a commerce platform in the United States and internationally. The Mobility segment offers fleet vehicle payment solutions, transaction processing, and information management services; and provides account activation and account retention services; authorization and billing inquiries, and account maintenance services; account management; credit and collections services; merchant services; analytics solutions; and ancillary services and offerings.