WEX (NYSE:WEX) had its price objective increased by Jefferies Financial Group from $210.00 to $230.00 in a report released on Thursday morning, BenzingaRatingsTable reports. They currently have a hold rating on the business services provider’s stock.
A number of other equities research analysts have also recently weighed in on WEX. Goldman Sachs Group cut to a sell rating and set a GBX 270 ($3.53) price objective for the company. in a research note on Wednesday, June 5th. William Blair cut Sabre from an outperform rating to a market perform rating in a research note on Tuesday, April 30th. Barclays boosted their target price on WEX from $222.00 to $238.00 and gave the stock an overweight rating in a research note on Monday, May 6th. Deutsche Bank reissued a buy rating and set a GBX 430 ($5.62) target price on shares of in a research note on Friday, June 21st. Finally, Robert W. Baird set a $8.00 target price on SRC Energy and gave the stock a buy rating in a research note on Thursday, April 4th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. WEX has an average rating of Buy and an average target price of $218.08.
Shares of NYSE WEX opened at $216.57 on Thursday. WEX has a twelve month low of $131.35 and a twelve month high of $221.66. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.39 and a quick ratio of 1.39. The company has a fifty day moving average price of $205.65. The firm has a market capitalization of $9.37 billion, a PE ratio of 28.35, a PEG ratio of 1.70 and a beta of 1.53.
WEX (NYSE:WEX) last issued its quarterly earnings data on Thursday, May 2nd. The business services provider reported $1.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.53 by $0.19. WEX had a return on equity of 17.88% and a net margin of 8.84%. The business had revenue of $381.90 million during the quarter, compared to analysts’ expectations of $379.57 million. During the same period in the previous year, the firm posted $1.81 earnings per share. The company’s revenue was up 7.9% on a year-over-year basis. As a group, analysts expect that WEX will post 8.62 EPS for the current year.
In other WEX news, Director Michael E. Dubyak sold 1,048 shares of WEX stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $204.31, for a total transaction of $214,116.88. Following the completion of the sale, the director now directly owns 33,484 shares of the company’s stock, valued at approximately $6,841,116.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Hilary A. Rapkin sold 1,404 shares of WEX stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $205.00, for a total value of $287,820.00. Following the sale, the insider now directly owns 13,718 shares of the company’s stock, valued at $2,812,190. The disclosure for this sale can be found here. Insiders have sold a total of 44,267 shares of company stock valued at $8,960,178 over the last ninety days. 1.12% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Advisory Services Network LLC lifted its holdings in WEX by 79.2% during the 4th quarter. Advisory Services Network LLC now owns 405 shares of the business services provider’s stock worth $57,000 after buying an additional 179 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of WEX by 20.8% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 302 shares of the business services provider’s stock valued at $58,000 after purchasing an additional 52 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new stake in shares of WEX in the 1st quarter valued at about $96,000. Tortoise Index Solutions LLC purchased a new stake in shares of WEX in the 1st quarter valued at about $121,000. Finally, Machina Capital S.A.S. lifted its holdings in shares of WEX by 591.1% in the 2nd quarter. Machina Capital S.A.S. now owns 698 shares of the business services provider’s stock valued at $145,000 after purchasing an additional 597 shares during the last quarter. 98.49% of the stock is owned by institutional investors.
WEX Company Profile
WEX Inc provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment processing services.
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