WEX (NYSE:WEX) Sets New 12-Month Low – What’s Next?

WEX Inc. (NYSE:WEX) hit a new 52-week low during trading on Friday . The stock traded as low as $124.80 and last traded at $130.40, with a volume of 412656 shares. The stock had previously closed at $142.61.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on WEX shares. UBS Group reduced their price target on shares of WEX from $200.00 to $172.00 and set a “neutral” rating on the stock in a research note on Friday, February 7th. Jefferies Financial Group boosted their target price on shares of WEX from $180.00 to $190.00 and gave the stock a “hold” rating in a research note on Wednesday, January 22nd. Robert W. Baird set a $186.00 price target on WEX in a research note on Tuesday, February 18th. Bank of America lowered WEX from a “buy” rating to a “neutral” rating in a research report on Thursday, February 6th. Finally, Keefe, Bruyette & Woods dropped their target price on WEX from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $187.80.

WEX Price Performance

The firm has a market capitalization of $4.92 billion, a P/E ratio of 16.92, a PEG ratio of 2.06 and a beta of 1.33. The company has a fifty day moving average of $158.97 and a 200 day moving average of $177.57. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.02 and a quick ratio of 1.04.

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

Institutional Trading of WEX

Several large investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC boosted its stake in WEX by 298.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,769 shares of the business services provider’s stock worth $2,239,000 after acquiring an additional 9,561 shares in the last quarter. Investment Management Corp VA ADV acquired a new position in shares of WEX during the fourth quarter valued at about $25,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of WEX by 11.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 193,971 shares of the business services provider’s stock worth $34,007,000 after purchasing an additional 19,534 shares in the last quarter. Vident Advisory LLC grew its stake in shares of WEX by 4.3% in the 4th quarter. Vident Advisory LLC now owns 8,497 shares of the business services provider’s stock valued at $1,490,000 after buying an additional 354 shares during the period. Finally, Twinbeech Capital LP bought a new stake in WEX in the 4th quarter valued at about $2,049,000. Institutional investors and hedge funds 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.