Keefe, Bruyette & Woods Has Lowered Expectations for WEX (NYSE:WEX) Stock Price

WEX (NYSE:WEXGet Free Report) had its target price dropped by stock analysts at Keefe, Bruyette & Woods from $247.00 to $220.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the business services provider’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 24.12% from the stock’s current price.

A number of other research analysts have also recently weighed in on WEX. Wolfe Research cut shares of WEX from an “outperform” rating to a “peer perform” rating in a research report on Monday, October 28th. Jefferies Financial Group lifted their target price on shares of WEX from $190.00 to $210.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Barclays reiterated an “equal weight” rating and issued a $200.00 price target (down from $207.00) on shares of WEX in a report on Tuesday, December 17th. Bank of America upped their target price on WEX from $238.00 to $255.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, Robert W. Baird dropped their target price on WEX from $285.00 to $230.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. 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 stock. According to MarketBeat.com, WEX presently has an average rating of “Moderate Buy” and a consensus price target of $227.73.

Get Our Latest Analysis on WEX

WEX Stock Down 0.6 %

Shares of NYSE WEX opened at $177.25 on Monday. The stock has a market capitalization of $7.05 billion, a PE ratio of 22.49, a P/E/G 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. The firm has a fifty day moving average of $178.77 and a 200-day moving average of $186.04. WEX has a 52-week low of $165.51 and a 52-week high of $244.04.

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

Insider Transactions at WEX

In other WEX news, COO Robert Joseph Deshaies sold 175 shares of the 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 transaction, the chief operating officer now owns 7,582 shares of the company’s stock, valued at $1,436,334.08. This trade represents a 2.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On WEX

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new stake in WEX during the third quarter valued at $35,000. World Investment Advisors LLC bought a new stake in shares of WEX during the 3rd quarter valued at about $2,507,000. Sanctuary Advisors LLC raised its stake in WEX by 112.4% during the third quarter. Sanctuary Advisors LLC now owns 4,760 shares of the business services provider’s stock worth $998,000 after acquiring an additional 2,519 shares during the period. Rehmann Capital Advisory Group bought a new position in WEX in the third quarter worth about $251,000. Finally, Coldstream Capital Management Inc. boosted its stake in WEX by 11.6% in the third quarter. Coldstream Capital Management Inc. now owns 1,835 shares of the business services provider’s stock valued at $377,000 after acquiring an additional 191 shares during the period. 97.47% of the stock is owned by institutional investors and hedge funds.

WEX Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for WEX (NYSE:WEX)

Receive News & Ratings for WEX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WEX and related companies with MarketBeat.com's FREE daily email newsletter.