Wex Inc. (WEX) Receives $95.13 Consensus Target Price from Analysts
Shares of Wex Inc. (NYSE:WEX) have been given a consensus rating of “Hold” by the nineteen research firms that are presently covering the firm. Eleven investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $95.13.
Several equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Wex from a “buy” rating to a “hold” rating in a report on Thursday, June 30th. TheStreet lowered shares of Wex from a “buy” rating to a “hold” rating in a report on Wednesday, July 27th. Morgan Stanley increased their price objective on shares of Wex from $94.00 to $95.00 and gave the company an “equal weight” rating in a report on Thursday, July 28th. Deutsche Bank AG increased their price objective on shares of Wex from $83.00 to $90.00 and gave the company a “hold” rating in a report on Thursday, July 28th. Finally, Barclays PLC upgraded shares of Wex from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $80.00 to $98.00 in a report on Thursday, July 7th.
In other news, Director Eric Duprat sold 1,100 shares of Wex stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $93.73, for a total value of $103,103.00. Following the completion of the transaction, the director now owns 1,593 shares of the company’s stock, valued at approximately $149,311.89. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Stephen R. Crowley sold 1,808 shares of Wex stock in a transaction dated Tuesday, August 2nd. The shares were 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. 0.86% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Aperio Group LLC increased its position in shares of Wex by 37.2% in the first quarter. Aperio Group LLC now owns 10,661 shares of the company’s stock worth $889,000 after buying an additional 2,888 shares during the period. TIAA CREF Investment Management LLC increased its position in shares of Wex by 5.6% in the first quarter. TIAA CREF Investment Management LLC now owns 241,471 shares of the company’s stock worth $20,129,000 after buying an additional 12,872 shares during the period. Teachers Advisors Inc. increased its position in shares of Wex by 44.6% in the first quarter. Teachers Advisors Inc. now owns 114,432 shares of the company’s stock worth $9,539,000 after buying an additional 35,287 shares during the period. BlackRock Inc. increased its position in shares of Wex by 21.4% in the first quarter. BlackRock Inc. now owns 16,978 shares of the company’s stock worth $1,415,000 after buying an additional 2,993 shares during the period. Finally, BlackRock Group LTD increased its position in shares of Wex by 24.6% in the first quarter. BlackRock Group LTD now owns 28,788 shares of the company’s stock worth $2,400,000 after buying an additional 5,689 shares during the period. 93.02% of the stock is owned by institutional investors.
Wex (NYSE:WEX) opened at 104.53 on Monday. Wex has a 52-week low of $54.42 and a 52-week high of $108.86. The stock has a market capitalization of $4.47 billion, a PE ratio of 45.85 and a beta of 1.92. The firm’s 50-day moving average is $104.28 and its 200 day moving average is $94.14.
Wex (NYSE:WEX) last released its quarterly earnings results on Wednesday, July 27th. The company reported $1.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.06. Wex had a net margin of 10.10% and a return on equity of 14.77%. The business had revenue of $233.90 million for the quarter, compared to analysts’ expectations of $221.64 million. During the same period in the prior year, the firm earned $1.25 earnings per share. Wex’s revenue was up 9.5% compared to the same quarter last year. On average, equities analysts forecast that Wex will post $4.31 earnings per share for the current year.
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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