WEX Inc (WEX) Receives Consensus Recommendation of “Buy” from Analysts

Shares of WEX Inc (NYSE:WEX) have been assigned a consensus recommendation of “Buy” from the seventeen research firms that are covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $135.83.

Several equities analysts have recently weighed in on the stock. Mizuho reaffirmed a “buy” rating and set a $115.00 target price on shares of WEX in a report on Sunday, October 15th. Zacks Investment Research lowered shares of WEX from a “hold” rating to a “sell” rating in a report on Thursday, September 28th. Credit Suisse Group reaffirmed an “outperform” rating and set a $167.00 target price (up from $141.00) on shares of WEX in a report on Wednesday. They noted that the move was a valuation call. Wedbush reaffirmed an “outperform” rating on shares of WEX in a report on Friday, October 20th. Finally, SunTrust Banks raised shares of WEX from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a report on Tuesday, October 17th.

In related news, insider Scott Robert Phillips sold 20,000 shares of WEX stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $127.68, for a total value of $2,553,600.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James Neary sold 177,207 shares of WEX stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $120.00, for a total transaction of $21,264,840.00. The disclosure for this sale can be found here. Insiders sold a total of 200,541 shares of company stock worth $24,235,190 in the last three months. 9.00% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue acquired a new stake in WEX in the 4th quarter valued at $465,000. Frontier Capital Management Co. LLC acquired a new stake in WEX in the 4th quarter valued at $66,691,000. Schwab Charles Investment Management Inc. grew its stake in WEX by 6.3% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 219,678 shares of the business services provider’s stock valued at $31,026,000 after acquiring an additional 12,943 shares during the period. Bank of Montreal Can grew its stake in WEX by 34.9% in the 4th quarter. Bank of Montreal Can now owns 148,496 shares of the business services provider’s stock valued at $20,972,000 after acquiring an additional 38,394 shares during the period. Finally, Public Employees Retirement System of Ohio grew its stake in WEX by 6.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 62,240 shares of the business services provider’s stock valued at $6,985,000 after acquiring an additional 4,013 shares during the period.

WEX (NYSE:WEX) traded up $1.82 on Friday, reaching $146.72. 244,683 shares of the company’s stock were exchanged, compared to its average volume of 306,085. WEX has a 12 month low of $97.26 and a 12 month high of $147.32. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.20. The stock has a market cap of $6,300.00, a price-to-earnings ratio of 73.73, a PEG ratio of 1.68 and a beta of 1.87.

WEX (NYSE:WEX) last posted its earnings results on Wednesday, November 1st. The business services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.14. The firm had revenue of $324.00 million during the quarter, compared to analyst estimates of $312.57 million. WEX had a net margin of 7.09% and a return on equity of 13.16%. The business’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.25 EPS. equities research analysts anticipate that WEX will post 4.9 EPS for the current fiscal year.

WEX announced that its board has initiated a share repurchase plan on Tuesday, September 26th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

ILLEGAL ACTIVITY NOTICE: This piece was first published by Chaffey Breeze and is the property of of Chaffey Breeze. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of United States & international copyright law. The correct version of this piece can be read at https://www.chaffeybreeze.com/2018/01/19/wex-inc-wex-receives-consensus-recommendation-of-buy-from-analysts.html.

About WEX

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.

Analyst Recommendations for WEX (NYSE:WEX)

Receive News & Ratings for WEX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WEX and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply