WEX (NYSE:WEX) Price Target Cut to $220.00 by Analysts at Keefe, Bruyette & Woods

WEX (NYSE:WEX) had its target price cut by Keefe, Bruyette & Woods from $247.00 to $220.00 in a report released on Monday morning,Benzinga reports. They currently have an outperform rating on the business services provider’s stock.

A number of other equities analysts also recently weighed in on WEX. Bank of America boosted their target price on WEX from $238.00 to $255.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Robert W. Baird cut their price objective on WEX from $285.00 to $230.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. 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 report on Wednesday, October 16th. Wolfe Research downgraded shares of WEX from an “outperform” rating to a “peer perform” rating in a report on Monday, October 28th. Finally, Barclays restated 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. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, WEX currently has an average rating of “Moderate Buy” and a consensus price target of $227.73.

WEX Stock Up 0.7 %

Shares of NYSE:WEX opened at $178.25 on Monday. The business’s 50 day moving average is $178.69 and its 200 day moving average is $186.02. WEX has a 12-month low of $165.51 and a 12-month high of $244.04. The stock has a market cap of $7.09 billion, a price-to-earnings ratio of 22.62, a PEG ratio of 1.39 and a beta of 1.58. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.87.

WEX (NYSE:WEX) last posted its quarterly earnings data on Thursday, October 24th. The business services provider reported $4.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.82 by $0.53. The firm had revenue of $665.50 million for the quarter, compared to the consensus estimate of $688.03 million. WEX had a net margin of 12.45% and a return on equity of 31.35%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.44 EPS. On average, sell-side analysts forecast that WEX will post 13.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Robert Joseph Deshaies sold 175 shares of the business’s stock in a transaction 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 approximately $1,436,334.08. The trade was a 2.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in WEX. Venturi Wealth Management LLC increased its holdings in shares of WEX by 206.1% in the third quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider’s stock worth $31,000 after purchasing an additional 101 shares during the period. Quarry LP grew its position in WEX by 717.4% during the second quarter. Quarry LP now owns 188 shares of the business services provider’s stock worth $33,000 after buying an additional 165 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in WEX in the 3rd quarter worth about $35,000. Covestor Ltd raised its holdings in shares of WEX by 47.3% in the 3rd quarter. Covestor Ltd now owns 277 shares of the business services provider’s stock valued at $58,000 after acquiring an additional 89 shares in the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of WEX during the 3rd quarter valued at about $59,000. Hedge funds and other institutional investors own 97.47% of the company’s stock.

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.