WEX Inc. (NYSE:WEX) has earned a consensus recommendation of “Buy” from the twelve brokerages that are covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $121.50.
WEX has been the subject of a number of research reports. Zacks Investment Research lowered WEX from a “hold” rating to a “sell” rating in a research note on Friday, April 7th. Credit Suisse Group upgraded WEX from a “neutral” rating to an “outperform” rating in a research note on Thursday, April 27th. Jefferies Group LLC restated a “buy” rating and issued a $135.00 target price on shares of WEX in a research note on Friday, May 5th. Deutsche Bank AG upgraded WEX from a “hold” rating to a “buy” rating and raised their target price for the company from $116.00 to $125.00 in a research note on Monday, June 5th. Finally, BidaskClub upgraded WEX from a “sell” rating to a “hold” rating in a research note on Saturday, July 1st.
In related news, SVP George W. Hogan sold 4,500 shares of WEX stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $110.00, for a total value of $495,000.00. Following the completion of the sale, the senior vice president now directly owns 15,615 shares in the company, valued at $1,717,650. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Hilary A. Rapkin sold 2,000 shares of WEX stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $105.00, for a total value of $210,000.00. Following the completion of the sale, the senior vice president now owns 15,424 shares of the company’s stock, valued at $1,619,520. The disclosure for this sale can be found here. 0.86% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the company. FNY Partners Fund LP purchased a new stake in shares of WEX during the first quarter worth approximately $103,000. Whittier Trust Co. raised its stake in shares of WEX by 5.9% in the first quarter. Whittier Trust Co. now owns 1,027 shares of the business services provider’s stock worth $106,000 after buying an additional 57 shares during the last quarter. Glen Harbor Capital Management LLC raised its stake in shares of WEX by 6.1% in the first quarter. Glen Harbor Capital Management LLC now owns 1,120 shares of the business services provider’s stock worth $116,000 after buying an additional 64 shares during the last quarter. Tyers Asset Management LLC raised its stake in shares of WEX by 6.1% in the first quarter. Tyers Asset Management LLC now owns 1,540 shares of the business services provider’s stock worth $159,000 after buying an additional 88 shares during the last quarter. Finally, First Bank & Trust raised its stake in shares of WEX by 2.6% in the first quarter. First Bank & Trust now owns 1,604 shares of the business services provider’s stock worth $166,000 after buying an additional 41 shares during the last quarter.
Shares of WEX (NYSE WEX) traded down 1.49% during trading on Friday, reaching $106.02. 46,199 shares of the company were exchanged. The stock has a 50-day moving average of $107.84 and a 200 day moving average of $106.99. WEX has a 52-week low of $89.89 and a 52-week high of $122.91. The stock has a market capitalization of $4.55 billion, a P/E ratio of 63.94 and a beta of 1.80.
WEX (NYSE:WEX) last announced its earnings results on Thursday, July 27th. The business services provider reported $1.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.11. WEX had a return on equity of 13.03% and a net margin of 6.09%. The company had revenue of $303.90 million during the quarter, compared to analyst estimates of $293.91 million. During the same period last year, the company posted $1.08 earnings per share. The firm’s quarterly revenue was up 29.9% compared to the same quarter last year. On average, equities analysts anticipate that WEX will post $5.30 earnings per share for the current fiscal year.
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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