WEX (NYSE:WEX)‘s stock had its “buy” rating restated by equities researchers at Mizuho in a research note issued on Thursday. They presently have a $180.00 price target on the business services provider’s stock. Mizuho’s target price points to a potential upside of 24.20% from the stock’s current price.
Other analysts have also recently issued research reports about the stock. Citigroup upped their target price on shares of WEX from $120.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, November 3rd. SunTrust Banks raised shares of WEX from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a research note on Tuesday, October 17th. Zacks Investment Research raised shares of WEX from a “hold” rating to a “buy” rating and set a $134.00 target price on the stock in a research note on Friday, October 13th. Goldman Sachs Group raised shares of WEX from a “neutral” rating to a “buy” rating and upped their target price for the company from $114.00 to $126.00 in a research note on Monday, September 11th. Finally, Wedbush reissued an “outperform” rating on shares of WEX in a research note on Friday, October 20th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $133.08.
Shares of WEX (NYSE WEX) opened at $144.93 on Thursday. The firm has a market cap of $6,130.97, a PE ratio of 72.83, a P/E/G ratio of 1.72 and a beta of 1.88. WEX has a 52 week low of $97.26 and a 52 week high of $146.74. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.69 and a quick ratio of 0.69.
WEX (NYSE:WEX) last posted its earnings results on Wednesday, November 1st. The business services provider reported $1.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.14. The business had revenue of $324.00 million for the quarter, compared to analysts’ expectations of $312.57 million. WEX had a net margin of 7.09% and a return on equity of 13.16%. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 earnings per share. equities analysts expect that WEX will post 4.9 EPS for the current year.
WEX declared that its board has approved a share buyback plan on Tuesday, September 26th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the business services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
In other WEX news, CEO Melissa D. Smith sold 3,329 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $125.00, for a total value of $416,125.00. Following the transaction, the chief executive officer now directly owns 60,380 shares in the company, valued at $7,547,500. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Scott Robert Phillips sold 20,000 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $127.68, for a total transaction of $2,553,600.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 203,874 shares of company stock worth $24,635,150. Company insiders own 9.00% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in WEX. Fiduciary Trust Co. acquired a new position in shares of WEX during the second quarter worth approximately $192,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of WEX by 9.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,850 shares of the business services provider’s stock worth $193,000 after purchasing an additional 162 shares in the last quarter. Jane Street Group LLC lifted its position in shares of WEX by 104.3% during the third quarter. Jane Street Group LLC now owns 1,786 shares of the business services provider’s stock worth $200,000 after purchasing an additional 43,763 shares in the last quarter. Raymond James Trust N.A. acquired a new position in shares of WEX during the second quarter worth approximately $202,000. Finally, Quantitative Systematic Strategies LLC acquired a new position in shares of WEX during the third quarter worth approximately $203,000.
WEX Company Profile
WEX Inc is a provider of corporate payment solutions. The Company operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment provides customers with payment and transaction processing services designed for the needs of commercial and government fleets.
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