WEX Inc. (NYSE:WEX) Given Consensus Rating of “Moderate Buy” by Analysts

WEX Inc. (NYSE:WEX) has received an average recommendation of “Moderate Buy” from the thirteen research firms that are presently covering the stock, Marketbeat reports. Five equities research 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 twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $235.91.

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

WEX Stock Performance

Shares of WEX opened at $185.38 on Friday. The company has a market cap of $7.37 billion, a price-to-earnings ratio of 23.53, a P/E/G ratio of 1.44 and a beta of 1.57. The business’s fifty day simple moving average is $196.01 and its two-hundred day simple moving average is $188.12. WEX has a 12 month low of $165.51 and a 12 month high of $244.04. 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 released its quarterly earnings data on Thursday, October 24th. The business services provider reported $4.35 EPS for the quarter, beating the consensus estimate of $3.82 by $0.53. WEX had a return on equity of 31.35% and a net margin of 12.45%. The company had revenue of $665.50 million for the quarter, compared to analysts’ expectations of $688.03 million. During the same period last year, the firm posted $3.44 earnings per share. WEX’s revenue was up 2.2% compared to the same quarter last year. Research analysts anticipate that WEX will post 13.1 earnings per share for the current fiscal year.

Insider Activity

In other WEX news, CFO Jagtar Narula sold 508 shares of the stock in a transaction on Friday, September 13th. The stock was 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 owns 7,120 shares in the company, valued at approximately $1,424,000. This represents a 6.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.

Institutional Trading of WEX

Several institutional investors have recently made changes to their positions in WEX. Rehmann Capital Advisory Group purchased a new position in WEX in the 3rd quarter worth approximately $251,000. Coldstream Capital Management Inc. raised its position in shares of WEX by 11.6% during the third quarter. Coldstream Capital Management Inc. now owns 1,835 shares of the business services provider’s stock valued at $377,000 after buying an additional 191 shares during the last quarter. Foyston Gordon & Payne Inc lifted its holdings in shares of WEX by 878.0% in the third quarter. Foyston Gordon & Payne Inc now owns 19,520 shares of the business services provider’s stock worth $4,094,000 after buying an additional 17,524 shares in the last quarter. Bullseye Asset Management LLC boosted its position in shares of WEX by 29.9% during the third quarter. Bullseye Asset Management LLC now owns 10,875 shares of the business services provider’s stock worth $2,281,000 after acquiring an additional 2,500 shares during the last quarter. Finally, Barclays PLC grew its stake in WEX by 38.4% during the third quarter. Barclays PLC now owns 21,535 shares of the business services provider’s stock valued at $4,516,000 after acquiring an additional 5,972 shares in the last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.

About WEX

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.