Barclays initiated coverage on shares of WEX (NYSE:WEX) in a research note issued to investors on Wednesday, November 14th, The Fly reports. The firm issued an overweight rating and a $211.00 target price on the business services provider’s stock.

Several other research firms also recently issued reports on WEX. Morgan Stanley upped their price objective on shares of WEX from $172.00 to $188.00 and gave the company a hold rating in a research note on Thursday, July 19th. Citigroup upped their price objective on shares of WEX from $200.00 to $235.00 and gave the company a buy rating in a research note on Friday, July 20th. Wolfe Research began coverage on shares of WEX in a research note on Tuesday, July 17th. They issued a market perform rating for the company. SunTrust Banks restated a buy rating and issued a $215.00 price objective on shares of WEX in a research note on Friday, August 3rd. Finally, Zacks Investment Research upgraded shares of WEX from a hold rating to a buy rating and set a $211.00 price objective for the company in a research note on Saturday, October 13th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $198.50.

Shares of WEX stock traded down $1.22 on Wednesday, reaching $153.48. 574,281 shares of the stock were exchanged, compared to its average volume of 495,972. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.16. The company has a market cap of $6.67 billion, a P/E ratio of 32.66, a PEG ratio of 1.36 and a beta of 1.69. WEX has a twelve month low of $128.00 and a twelve month high of $203.49.

WEX (NYSE:WEX) last issued its earnings results on Wednesday, October 31st. The business services provider reported $2.19 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.07. The firm had revenue of $382.70 million during the quarter, compared to the consensus estimate of $375.15 million. WEX had a net margin of 15.63% and a return on equity of 16.92%. The company’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.43 earnings per share. On average, equities analysts forecast that WEX will post 7.59 EPS for the current year.

Several large investors have recently made changes to their positions in the company. Louisiana State Employees Retirement System raised its holdings in shares of WEX by 2.9% in the second quarter. Louisiana State Employees Retirement System now owns 10,800 shares of the business services provider’s stock valued at $2,057,000 after buying an additional 300 shares during the last quarter. LPL Financial LLC raised its holdings in shares of WEX by 6.4% in the third quarter. LPL Financial LLC now owns 5,562 shares of the business services provider’s stock valued at $1,117,000 after buying an additional 333 shares during the last quarter. Aperio Group LLC raised its holdings in shares of WEX by 2.6% in the second quarter. Aperio Group LLC now owns 13,689 shares of the business services provider’s stock valued at $2,607,000 after buying an additional 347 shares during the last quarter. HM Payson & Co. raised its holdings in WEX by 4.2% during the second quarter. HM Payson & Co. now owns 8,903 shares of the business services provider’s stock worth $1,696,000 after purchasing an additional 360 shares in the last quarter. Finally, Cutler Group LP raised its holdings in WEX by 133.3% during the second quarter. Cutler Group LP now owns 700 shares of the business services provider’s stock worth $133,000 after purchasing an additional 400 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

About WEX

WEX Inc provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment and processing services.

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The Fly

Analyst Recommendations for WEX (NYSE:WEX)

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