Wex Inc. (WEX) Sets New 12-Month High at $99.64
Shares of Wex Inc. (NYSE:WEX) reached a new 52-week high on Tuesday . The company traded as high as $99.64 and last traded at $99.13, with a volume of 128,958 shares traded. The stock had previously closed at $98.00.
A number of analysts have recently weighed in on WEX shares. Zacks Investment Research raised Wex from a “hold” rating to a “buy” rating and set a $101.00 price objective on the stock in a research report on Wednesday, April 27th. Wells Fargo & Co. lowered Wex from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 28th. They noted that the move was a valuation call. Morgan Stanley upped their price objective on Wex from $75.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 28th. Barclays PLC upped their price objective on Wex from $66.00 to $80.00 and gave the stock an “underweight” rating in a research report on Thursday, April 28th. Finally, JPMorgan Chase & Co. raised Wex from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $72.00 to $91.00 in a research report on Friday, April 29th. Eleven analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Wex currently has an average rating of “Hold” and an average target price of $89.87.
The firm has a 50 day moving average of $93.77 and a 200 day moving average of $85.53. The firm has a market capitalization of $4.25 billion and a price-to-earnings ratio of 43.66.
Wex (NYSE:WEX) last posted its earnings results on Wednesday, July 27th. The company reported $1.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.06. The business had revenue of $233.90 million for the quarter, compared to analyst estimates of $221.64 million. The business’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.25 EPS. Analysts expect that Wex Inc. will post $4.29 EPS for the current fiscal year.
In other Wex news, 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 value of $103,103.00. Following the transaction, the director now owns 1,593 shares in the company, valued at approximately $149,311.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Stephen R. Crowley sold 1,808 shares of the business’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $90.95, for a total transaction of $164,437.60. The disclosure for this sale can be found here.
A number of institutional investors have recently modified their holdings of WEX. Bank of Montreal Can raised its position in shares of Wex by 4.9% in the fourth quarter. Bank of Montreal Can now owns 134,941 shares of the company’s stock worth $11,929,000 after buying an additional 6,312 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Wex by 2.6% in the fourth quarter. Principal Financial Group Inc. now owns 123,981 shares of the company’s stock worth $10,960,000 after buying an additional 3,112 shares in the last quarter. Finally, Nicholas Co. Inc. WI raised its position in shares of Wex by 23.6% in the fourth quarter. Nicholas Co. Inc. WI now owns 52,855 shares of the company’s stock worth $4,672,000 after buying an additional 10,075 shares in the last quarter.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.