Credit Suisse Group restated their outperform rating on shares of WEX (NYSE:WEX) in a research report sent to investors on Thursday morning. The brokerage currently has a $176.00 price objective on the business services provider’s stock, up from their previous price objective of $167.00.
A number of other equities research analysts have also issued reports on the stock. SunTrust Banks set a $160.00 target price on shares of WEX and gave the stock a buy rating in a report on Friday, February 16th. Oppenheimer upped their target price on shares of WEX from $130.00 to $176.00 in a report on Monday, February 5th. Morgan Stanley upped their target price on shares of WEX from $123.00 to $149.00 and gave the stock an equal weight rating in a report on Thursday, January 25th. Mizuho reaffirmed a buy rating and set a $180.00 target price on shares of WEX in a report on Thursday, January 4th. Finally, Zacks Investment Research lowered shares of WEX from a buy rating to a hold rating in a report on Tuesday, November 7th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of Buy and an average target price of $149.36.
Shares of WEX (WEX) opened at $154.57 on Thursday. WEX has a 1-year low of $97.26 and a 1-year high of $159.65. The stock has a market cap of $6,649.91, a price-to-earnings ratio of 31.54, a PEG ratio of 1.58 and a beta of 1.91. The company has a current ratio of 0.71, a quick ratio of 0.69 and a debt-to-equity ratio of 0.20.
WEX (NYSE:WEX) last released its earnings results on Wednesday, February 21st. The business services provider reported $1.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.16. WEX had a net margin of 12.82% and a return on equity of 13.01%. The business had revenue of $331.30 million during the quarter, compared to analyst estimates of $327.19 million. During the same quarter in the prior year, the firm earned $1.28 earnings per share. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. equities research analysts forecast that WEX will post 6.84 EPS for the current fiscal year.
In related news, insider Scott Robert Phillips sold 20,000 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $127.68, for a total value of $2,553,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 9.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of WEX. First Mercantile Trust Co. acquired a new position in WEX in the fourth quarter valued at about $191,000. Jane Street Group LLC lifted its position in WEX by 104.3% in the third quarter. Jane Street Group LLC now owns 1,786 shares of the business services provider’s stock valued at $200,000 after buying an additional 43,763 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new position in WEX in the third quarter valued at about $203,000. Advisory Services Network LLC lifted its position in WEX by 4,540.6% in the fourth quarter. Advisory Services Network LLC now owns 1,485 shares of the business services provider’s stock valued at $210,000 after buying an additional 1,453 shares during the last quarter. Finally, CIBC Asset Management Inc acquired a new position in WEX in the fourth quarter valued at about $211,000.
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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