Brokerages Set WEX Inc. (NYSE:WEX) PT at $195.73

WEX Inc. (NYSE:WEX - Get Free Report) has been assigned a consensus recommendation of "Hold" from the thirteen analysts that are currently covering the firm, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $195.73.

Several equities research analysts have weighed in on the stock. Barclays cut their target price on shares of WEX from $200.00 to $155.00 and set an "equal weight" rating on the stock in a report on Monday, February 10th. Jefferies Financial Group lifted their target price on WEX from $180.00 to $190.00 and gave the stock a "hold" rating in a report on Wednesday, January 22nd. Wells Fargo & Company lowered their price target on WEX from $180.00 to $160.00 and set an "equal weight" rating for the company in a report on Friday, February 7th. Robert W. Baird set a $186.00 price target on WEX in a research report on Tuesday, February 18th. Finally, UBS Group decreased their price objective on WEX from $200.00 to $172.00 and set a "neutral" rating for the company in a research report on Friday, February 7th.

WEX Trading Up 2.9 %

WEX stock traded up $4.48 during midday trading on Tuesday, reaching $158.68. The company's stock had a trading volume of 724,111 shares, compared to its average volume of 561,023. The business's 50-day simple moving average is $169.12 and its 200-day simple moving average is $182.84. The company has a quick ratio of 1.04, a current ratio of 1.02 and a debt-to-equity ratio of 2.07. WEX has a 52 week low of $146.03 and a 52 week high of $244.04. The stock has a market cap of $6.16 billion, a PE ratio of 21.16, a price-to-earnings-growth ratio of 2.06 and a beta of 1.61.

Remove Ads

WEX (NYSE:WEX - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 EPS for the quarter, topping analysts' consensus estimates of $2.97 by $0.16. WEX had a return on equity of 32.35% and a net margin of 11.78%. As a group, sell-side analysts expect that WEX will post 14.09 EPS for the current year.

Institutional Investors Weigh In On WEX

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue grew its holdings in shares of WEX by 2.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 4,771 shares of the business services provider's stock valued at $1,000,000 after acquiring an additional 135 shares in the last quarter. First Trust Direct Indexing L.P. grew its stake in WEX by 10.5% in the third quarter. First Trust Direct Indexing L.P. now owns 1,573 shares of the business services provider's stock valued at $330,000 after purchasing an additional 149 shares in the last quarter. New York State Common Retirement Fund increased its position in shares of WEX by 328.6% during the 3rd quarter. New York State Common Retirement Fund now owns 127,570 shares of the business services provider's stock worth $26,755,000 after purchasing an additional 97,807 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of WEX by 111.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 24,869 shares of the business services provider's stock worth $5,216,000 after purchasing an additional 13,104 shares in the last quarter. Finally, QRG Capital Management Inc. bought a new stake in shares of WEX during the 3rd quarter worth approximately $219,000. 97.47% of the stock is currently owned by institutional investors and hedge funds.

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.