Mizuho Lowers WEX (NYSE:WEX) Price Target to $170.00

WEX (NYSE:WEX - Get Free Report) had its target price decreased by equities researchers at Mizuho from $215.00 to $170.00 in a research note issued on Monday,Benzinga reports. The firm currently has an "outperform" rating on the business services provider's stock. Mizuho's target price suggests a potential upside of 9.50% from the stock's current price.

A number of other equities analysts have also weighed in on the stock. Bank of America lowered shares of WEX from a "buy" rating to a "neutral" rating in a research report on Thursday, February 6th. Barclays reduced their price target on WEX from $200.00 to $155.00 and set an "equal weight" rating on the stock in a research note on Monday. Wells Fargo & Company lowered their price objective on WEX from $180.00 to $160.00 and set an "equal weight" rating for the company in a research report on Friday. Wolfe Research downgraded WEX from an "outperform" rating to a "peer perform" rating in a research report on Monday, October 28th. Finally, Jefferies Financial Group raised their price target on WEX from $180.00 to $190.00 and gave the stock a "hold" rating in a research note on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, WEX presently has a consensus rating of "Hold" and a consensus price target of $199.73.

WEX Price Performance

WEX stock traded up $0.95 on Monday, reaching $155.25. The company had a trading volume of 976,823 shares, compared to its average volume of 516,326. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.04 and a current ratio of 1.02. The company's fifty day moving average is $176.89 and its 200 day moving average is $185.69. The company has a market cap of $6.18 billion, a P/E ratio of 20.70, a PEG ratio of 1.24 and a beta of 1.58. WEX has a 1 year low of $146.03 and a 1 year high of $244.04.

WEX (NYSE:WEX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 EPS for the quarter, beating 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%. On average, research analysts forecast that WEX will post 14.27 earnings per share for the current year.

Insider Transactions at WEX

In related news, COO Robert Joseph Deshaies sold 175 shares of WEX stock in a transaction on Friday, November 29th. The shares were 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 in the company, valued at approximately $1,436,334.08. The trade was a 2.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of WEX. Wealthfront Advisers LLC acquired a new position in WEX in the 4th quarter worth $28,689,000. Rice Hall James & Associates LLC lifted its stake in shares of WEX by 672.7% in the third quarter. Rice Hall James & Associates LLC now owns 154,033 shares of the business services provider's stock worth $32,305,000 after acquiring an additional 134,099 shares in the last quarter. FMR LLC boosted its holdings in WEX by 8.8% in the third quarter. FMR LLC now owns 1,555,507 shares of the business services provider's stock valued at $326,237,000 after purchasing an additional 125,262 shares during the last quarter. New York State Common Retirement Fund grew its stake in 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 valued at $26,755,000 after purchasing an additional 97,807 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in WEX by 82.2% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 175,690 shares of the business services provider's stock worth $36,847,000 after purchasing an additional 79,252 shares during the last quarter. Institutional investors and hedge funds own 97.47% of the company's stock.

About WEX

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.