WEX Inc. (NYSE:WEX) Receives $227.73 Consensus Target Price from Analysts

Shares of WEX Inc. (NYSE:WEX) have earned an average rating of “Moderate Buy” from the thirteen ratings firms that are covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $219.55.

WEX has been the topic of several research analyst reports. Barclays reiterated an “equal weight” rating and set a $200.00 price target (down previously from $207.00) on shares of WEX in a research report on Tuesday, December 17th. Robert W. Baird dropped their price target on WEX from $285.00 to $230.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. 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 report on Wednesday, October 16th. Wells Fargo & Company lowered their target price 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. Finally, Wolfe Research downgraded shares of WEX from an “outperform” rating to a “peer perform” rating in a research report on Monday, October 28th.

WEX Stock Performance

NYSE:WEX opened at $180.04 on Monday. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.04 and a current ratio of 1.04. WEX has a fifty-two week low of $165.51 and a fifty-two week high of $244.04. The firm has a market cap of $7.16 billion, a PE ratio of 22.85, a price-to-earnings-growth ratio of 1.39 and a beta of 1.58. The business has a 50 day moving average price of $178.77 and a 200-day moving average price of $185.97.

WEX (NYSE:WEX) last issued its quarterly earnings data on Thursday, October 24th. The business services provider reported $4.35 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $688.03 million. During the same period last year, the company earned $3.44 EPS. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. Equities research analysts predict that WEX will post 13.1 earnings per share for the current year.

Insider Transactions at WEX

In other WEX news, COO Robert Joseph Deshaies sold 175 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $189.44, for a total transaction of $33,152.00. Following the transaction, the chief operating officer now owns 7,582 shares in the company, valued at approximately $1,436,334.08. This represents a 2.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Venturi Wealth Management LLC raised its stake in WEX by 206.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 101 shares during the last quarter. Quarry LP lifted its stake in shares of WEX by 717.4% in the second quarter. Quarry LP now owns 188 shares of the business services provider’s stock worth $33,000 after buying an additional 165 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in WEX during the third quarter worth about $35,000. Covestor Ltd grew its stake in WEX by 47.3% during the 3rd quarter. Covestor Ltd now owns 277 shares of the business services provider’s stock valued at $58,000 after acquiring an additional 89 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in WEX in the 3rd quarter valued at about $59,000. 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.