Analysts Set WEX Inc. (NYSE:WEX) Price Target at $235.91

WEX Inc. (NYSE:WEX) has received an average rating of “Moderate Buy” from the thirteen brokerages that are covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $235.91.

Several research analysts have recently issued reports on the company. Bank of America increased their price target on WEX from $238.00 to $255.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Wells Fargo & Company decreased their price target on WEX from $200.00 to $180.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. Robert W. Baird decreased their price target on WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. JPMorgan Chase & Co. decreased their price target on WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a research note on Tuesday, August 20th. Finally, Jefferies Financial Group raised their target price on WEX from $190.00 to $210.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th.

Insider Activity at WEX

In related news, CFO Jagtar Narula sold 508 shares of the stock in a transaction dated 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 directly owns 7,120 shares of the company’s stock, valued at approximately $1,424,000. This represents a 6.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On WEX

Several hedge funds have recently bought and sold shares of WEX. Wilmington Savings Fund Society FSB purchased a new stake in shares of WEX during the 3rd quarter worth about $35,000. World Investment Advisors LLC purchased a new stake in shares of WEX during the 3rd quarter worth about $2,507,000. Sanctuary Advisors LLC raised its stake in shares of WEX by 112.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 4,760 shares of the business services provider’s stock worth $998,000 after purchasing an additional 2,519 shares in the last quarter. Rehmann Capital Advisory Group purchased a new stake in shares of WEX during the 3rd quarter worth about $251,000. Finally, Coldstream Capital Management Inc. raised its stake in shares of WEX by 11.6% during the 3rd quarter. Coldstream Capital Management Inc. now owns 1,835 shares of the business services provider’s stock worth $377,000 after purchasing an additional 191 shares in the last quarter. 97.47% of the stock is owned by hedge funds and other institutional investors.

WEX Price Performance

Shares of NYSE WEX opened at $185.94 on Friday. WEX has a 1-year low of $165.51 and a 1-year high of $244.04. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.04 and a quick ratio of 1.04. The business’s fifty day moving average price is $195.78 and its two-hundred day moving average price is $187.66. The firm has a market capitalization of $7.40 billion, a PE ratio of 23.35, a P/E/G ratio of 1.47 and a beta of 1.57.

WEX (NYSE:WEX) last issued its earnings results on Thursday, October 24th. The business services provider reported $4.35 earnings per share for the quarter, topping 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 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 earnings per share. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, research analysts expect that WEX will post 13.1 EPS for the current year.

WEX Company Profile

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.