Oppenheimer Holdings, Inc. Reiterates Outperform Rating for WEX Inc. (NYSE:WEX)
WEX Inc. (NYSE:WEX)‘s stock had its “outperform” rating reiterated by analysts at Oppenheimer Holdings, Inc. in a research report issued to clients and investors on Thursday. They presently have a $120.00 price target on the business services provider’s stock. Oppenheimer Holdings, Inc.’s target price points to a potential upside of 16.70% from the company’s current price.
Several other equities analysts have also issued reports on the company. Barclays PLC restated a “hold” rating and set a $118.00 target price on shares of WEX in a research report on Wednesday, August 2nd. Zacks Investment Research lowered WEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. BidaskClub lowered WEX from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. William Blair reiterated an “outperform” rating on shares of WEX in a report on Wednesday, July 12th. Finally, Mizuho initiated coverage on WEX in a report on Tuesday, June 27th. They set a “buy” rating and a $115.00 price objective on the stock. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. WEX presently has a consensus rating of “Buy” and a consensus target price of $120.56.
WEX (WEX) traded down 0.31% during trading on Thursday, hitting $102.51. 39,501 shares of the stock traded hands. WEX has a 52 week low of $92.50 and a 52 week high of $122.91. The stock has a market cap of $4.40 billion, a P/E ratio of 61.83 and a beta of 1.80. The firm’s 50-day moving average is $107.58 and its 200 day moving average is $106.60.
WEX (NYSE:WEX) last posted its earnings results on Thursday, July 27th. The business services provider reported $1.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.11. The company had revenue of $303.90 million during the quarter, compared to analyst estimates of $293.91 million. WEX had a return on equity of 13.03% and a net margin of 6.09%. The company’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.08 EPS. Equities research analysts forecast that WEX will post $5.27 earnings per share for the current fiscal year.
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In other WEX news, SVP Hilary A. Rapkin sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $105.00, for a total value of $210,000.00. Following the sale, the senior vice president now owns 15,424 shares in the company, valued at approximately $1,619,520. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP George W. Hogan sold 4,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 12th. The shares were 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 owns 15,615 shares in the company, valued at approximately $1,717,650. The disclosure for this sale can be found here. Insiders own 0.86% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. FNY Partners Fund LP purchased a new stake in WEX during the first quarter valued at approximately $103,000. Whittier Trust Co. boosted its stake in WEX by 5.9% in the first quarter. Whittier Trust Co. now owns 1,027 shares of the business services provider’s stock valued at $106,000 after buying an additional 57 shares during the last quarter. Glen Harbor Capital Management LLC boosted its stake in 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 valued at $116,000 after buying an additional 64 shares during the last quarter. Tyers Asset Management LLC boosted its stake in WEX by 6.1% in the first quarter. Tyers Asset Management LLC now owns 1,540 shares of the business services provider’s stock valued at $159,000 after buying an additional 88 shares during the last quarter. Finally, First Bank & Trust boosted its stake in WEX by 2.6% in the first quarter. First Bank & Trust now owns 1,604 shares of the business services provider’s stock valued at $166,000 after buying an additional 41 shares during the last quarter.
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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