WEX (NYSE:WEX) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

WEX (NYSE:WEX) had its target price boosted by equities research analysts at Jefferies Financial Group from $180.00 to $190.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the business services provider’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 3.68% from the stock’s previous close.

Several other brokerages also recently commented on WEX. Keefe, Bruyette & Woods cut their target price on WEX from $247.00 to $220.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Robert W. Baird dropped their price target on WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. 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. Wells Fargo & Company dropped their price target on WEX from $200.00 to $180.00 and set an “equal weight” rating for the company in a research report on Friday, October 25th. Finally, Wolfe Research downgraded WEX from an “outperform” rating to a “peer perform” rating in a research report on Monday, October 28th. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $217.73.

WEX Stock Up 0.2 %

Shares of NYSE:WEX opened at $183.26 on Wednesday. The company has a market capitalization of $7.29 billion, a PE ratio of 23.26, a price-to-earnings-growth ratio of 1.33 and a beta of 1.58. 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 has a fifty day moving average price of $178.91 and a two-hundred day moving average price of $186.21. WEX has a 1 year low of $165.51 and a 1 year high of $244.04.

WEX (NYSE:WEX) last issued its quarterly earnings results on Thursday, October 24th. The business services provider reported $4.35 EPS for the quarter, beating 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 analysts’ expectations of $688.03 million. During the same quarter in the prior year, the firm earned $3.44 EPS. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. Analysts forecast that WEX will post 13.09 earnings per share for the current year.

Insider Activity

In related news, COO Robert Joseph Deshaies sold 175 shares of WEX 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 sale, the chief operating officer now directly owns 7,582 shares in the company, valued at $1,436,334.08. The trade was a 2.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On WEX

Several hedge funds have recently made changes to their positions in the company. Venturi Wealth Management LLC lifted its holdings in shares of WEX by 206.1% during the third 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 in the last quarter. Quarry LP lifted its holdings in shares of WEX by 717.4% during the second quarter. Quarry LP now owns 188 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 165 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of WEX during the third quarter valued at $35,000. UMB Bank n.a. lifted its holdings in shares of WEX by 552.5% during the fourth quarter. UMB Bank n.a. now owns 261 shares of the business services provider’s stock valued at $46,000 after purchasing an additional 221 shares in the last quarter. Finally, Covestor Ltd lifted its holdings in shares of WEX by 47.3% during the third quarter. Covestor Ltd now owns 277 shares of the business services provider’s stock valued at $58,000 after purchasing an additional 89 shares in the last quarter. 97.47% of the stock is currently owned by institutional investors.

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.