WEX Inc. (WEX) PT Raised to $130.00
WEX Inc. (NYSE:WEX) had its price target raised by stock analysts at Oppenheimer Holdings, Inc. from $120.00 to $130.00 in a note issued to investors on Thursday. The brokerage presently has an “outperform” rating on the business services provider’s stock. Oppenheimer Holdings, Inc.’s target price would suggest a potential upside of 7.12% from the stock’s current price.
Other equities research analysts have also issued research reports about the company. Keefe, Bruyette & Woods set a $130.00 price objective on WEX and gave the company a “buy” rating in a research note on Sunday, August 13th. BidaskClub raised WEX from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Morgan Stanley lifted their price target on WEX from $113.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Thursday. Zacks Investment Research lowered WEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, Barclays PLC lifted their price target on WEX from $115.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 18th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. WEX presently has a consensus rating of “Buy” and a consensus target price of $127.67.
WEX (NYSE:WEX) traded down $1.58 during trading hours on Thursday, reaching $121.36. The company had a trading volume of 398,886 shares, compared to its average volume of 389,989. The company has a market capitalization of $5,210.00, a price-to-earnings ratio of 25.67, a price-to-earnings-growth ratio of 1.77 and a beta of 1.88. WEX has a 12 month low of $97.26 and a 12 month high of $125.00. The company has a quick ratio of 0.66, a current ratio of 0.69 and a debt-to-equity ratio of 0.20.
WEX (NYSE:WEX) last posted its quarterly earnings data on Wednesday, November 1st. The business services provider reported $1.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.14. The company had revenue of $324.00 million during the quarter, compared to analyst estimates of $312.57 million. WEX had a return on equity of 13.16% and a net margin of 7.09%. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter last year, the company earned $1.25 earnings per share. equities analysts predict that WEX will post 4.86 earnings per share for the current year.
WEX announced that its board has authorized a share repurchase plan on Tuesday, September 26th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the business services provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
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In other news, CEO Melissa D. Smith sold 3,333 shares of the business’s stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $120.00, for a total value of $399,960.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Neary sold 2,390,000 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $102.25, for a total value of $244,377,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 2,399,171 shares of company stock valued at $245,448,880. 0.86% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in WEX. First Bank & Trust lifted its stake in shares of WEX by 5.1% in the 2nd quarter. First Bank & Trust now owns 1,686 shares of the business services provider’s stock valued at $176,000 after acquiring an additional 82 shares during the last quarter. Fiduciary Trust Co. bought a new stake in shares of WEX in the 2nd quarter valued at about $192,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of WEX by 9.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,850 shares of the business services provider’s stock valued at $193,000 after acquiring an additional 162 shares during the last quarter. Huntington National Bank lifted its stake in shares of WEX by 13.3% in the 2nd quarter. Huntington National Bank now owns 1,908 shares of the business services provider’s stock valued at $199,000 after acquiring an additional 224 shares during the last quarter. Finally, Raymond James Trust N.A. purchased a new position in WEX during the 2nd quarter valued at about $202,000.
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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