WEX (NYSE:WEX) Price Target Lowered to $220.00 at Keefe, Bruyette & Woods

WEX (NYSE:WEX - Free Report) had its target price lowered by Keefe, Bruyette & Woods from $247.00 to $220.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the business services provider's stock.

Several other equities analysts have also recently weighed in on WEX. Bank of America boosted their price objective on WEX from $238.00 to $255.00 and gave the stock a "buy" rating in a research report on Tuesday, October 15th. Wells Fargo & Company reduced their price objective on WEX from $200.00 to $180.00 and set an "equal weight" rating for the company in a research report on Friday, October 25th. Wolfe Research lowered shares of WEX from an "outperform" rating to a "peer perform" rating in a research report on Monday, October 28th. Robert W. Baird reduced their price target on shares of WEX from $285.00 to $230.00 and set an "outperform" rating for the company in a report on Friday, October 25th. Finally, Barclays restated an "equal weight" rating and set a $200.00 price objective (down previously from $207.00) on shares of WEX in a report on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, WEX has an average rating of "Moderate Buy" and an average target price of $227.73.

WEX Stock Up 0.7 %

Shares of WEX traded up $1.25 during trading hours on Monday, hitting $178.25. 398,341 shares of the company were exchanged, compared to its average volume of 320,714. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market cap of $7.09 billion, a PE ratio of 22.62, a PEG ratio of 1.39 and a beta of 1.58. The firm's 50 day moving average is $178.69 and its 200-day moving average is $186.02. WEX has a 52 week low of $165.51 and a 52 week high of $244.04.

WEX (NYSE:WEX - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The business services provider reported $4.35 EPS for the quarter, beating the consensus estimate of $3.82 by $0.53. The company had revenue of $665.50 million for 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 company's revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the company posted $3.44 earnings per share. On average, equities research analysts forecast that WEX will post 13.1 EPS for the current fiscal year.

Insider Transactions at WEX

In other news, COO Robert Joseph Deshaies sold 175 shares of the company's stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $189.44, for a total value of $33,152.00. Following the sale, the chief operating officer now owns 7,582 shares of the company's stock, valued at approximately $1,436,334.08. This represents a 2.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by insiders.

Institutional Trading of WEX

Large investors have recently added to or reduced their stakes in the company. Venturi Wealth Management LLC raised its stake in shares of WEX by 206.1% in the third quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider's stock valued at $31,000 after acquiring an additional 101 shares during the last quarter. Quarry LP boosted its stake in WEX by 717.4% in the second quarter. Quarry LP now owns 188 shares of the business services provider's stock worth $33,000 after purchasing an additional 165 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of WEX during the third quarter worth $35,000. Covestor Ltd increased its stake in shares of WEX by 47.3% in the third quarter. Covestor Ltd now owns 277 shares of the business services provider's stock valued at $58,000 after buying an additional 89 shares in the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of WEX in the third quarter valued at about $59,000. 97.47% of the stock is owned by institutional investors.

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.