Analysts Set WEX Inc. (NYSE:WEX) Target Price at $187.80

WEX Inc. (NYSE:WEX) has been given a consensus recommendation of “Hold” by the twelve research firms that are currently covering the stock, MarketBeat.com reports. Nine analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $187.80.

WEX has been the topic of a number of analyst reports. Citigroup lowered shares of WEX from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $260.00 to $190.00 in a report on Tuesday, January 14th. Robert W. Baird set a $186.00 price target on shares of WEX in a report on Tuesday, February 18th. Barclays dropped their price objective on WEX from $200.00 to $155.00 and set an “equal weight” rating for the company in a research note on Monday, February 10th. Bank of America cut WEX from a “buy” rating to a “neutral” rating in a report on Thursday, February 6th. Finally, Wells Fargo & Company dropped their price target on WEX from $180.00 to $160.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th.

Hedge Funds Weigh In On WEX

Several institutional investors and hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC boosted its position in WEX by 0.6% during the third quarter. Janus Henderson Group PLC now owns 4,163,678 shares of the business services provider’s stock valued at $873,251,000 after buying an additional 25,365 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of WEX by 105.8% in the 4th quarter. JPMorgan Chase & Co. now owns 2,046,614 shares of the business services provider’s stock valued at $358,812,000 after acquiring an additional 1,052,087 shares during the last quarter. FMR LLC boosted its holdings in WEX by 8.8% during the 3rd quarter. FMR LLC now owns 1,555,507 shares of the business services provider’s stock valued at $326,237,000 after acquiring an additional 125,262 shares during the period. State Street Corp grew its position in WEX by 0.3% during the 3rd quarter. State Street Corp now owns 1,240,953 shares of the business services provider’s stock worth $260,265,000 after acquiring an additional 3,882 shares during the last quarter. Finally, Earnest Partners LLC increased its stake in WEX by 1.0% in the 4th quarter. Earnest Partners LLC now owns 872,734 shares of the business services provider’s stock worth $153,008,000 after purchasing an additional 8,780 shares during the period. Institutional investors own 97.47% of the company’s stock.

WEX Price Performance

NYSE WEX opened at $157.32 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.02 and a debt-to-equity ratio of 2.07. The company has a market cap of $6.11 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 2.06 and a beta of 1.61. WEX has a 52 week low of $146.03 and a 52 week high of $244.04. The firm’s 50-day simple moving average is $161.73 and its two-hundred day simple moving average is $178.88.

WEX (NYSE:WEX) last posted its quarterly earnings results on Wednesday, February 5th. The business services provider reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.16. WEX had a return on equity of 32.35% and a net margin of 11.78%. Research analysts predict that WEX will post 14.09 earnings per share for the current year.

About WEX

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.