WEX Inc (NYSE:WEX) Given Consensus Recommendation of “Buy” by Analysts
Shares of WEX Inc (NYSE:WEX) have received an average rating of “Buy” from the sixteen brokerages that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $221.31.
A number of analysts recently issued reports on WEX shares. Bank of America reissued a “buy” rating and set a $25.00 price objective on shares of Infineon Technologies in a research report on Monday, June 3rd. Barclays raised their price objective on WEX from $222.00 to $238.00 and gave the stock an “overweight” rating in a research report on Monday, May 6th. Jefferies Financial Group downgraded Alcoa from a “buy” rating to a “hold” rating and cut their price objective for the stock from $29.00 to $23.00 in a research report on Thursday, July 18th. Zacks Investment Research downgraded Zai Lab from a “buy” rating to a “hold” rating in a research report on Saturday, June 15th. Finally, Robert W. Baird set a $8.00 target price on SRC Energy and gave the company a “buy” rating in a research report on Thursday, April 4th.
In other news, insider Hilary A. Rapkin sold 1,404 shares of WEX stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $205.00, for a total value of $287,820.00. Following the completion of the transaction, the insider now owns 13,718 shares in the company, valued at approximately $2,812,190. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Melissa D. Smith sold 5,000 shares of WEX stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $205.00, for a total value of $1,025,000.00. Following the completion of the transaction, the chief executive officer now owns 70,783 shares of the company’s stock, valued at approximately $14,510,515. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,267 shares of company stock valued at $8,960,178. 1.12% of the stock is currently owned by corporate insiders.
Shares of NYSE:WEX traded up $0.57 during midday trading on Wednesday, reaching $217.85. 696 shares of the company’s stock were exchanged, compared to its average volume of 225,629. The stock has a 50 day moving average price of $209.45. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.55. The company has a market capitalization of $9.40 billion, a PE ratio of 28.44, a price-to-earnings-growth ratio of 1.72 and a beta of 1.53. WEX has a fifty-two week low of $131.35 and a fifty-two week high of $221.66.
WEX (NYSE:WEX) last issued its quarterly earnings data on Thursday, May 2nd. The business services provider reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.19. The firm had revenue of $381.90 million during the quarter, compared to the consensus estimate of $379.57 million. WEX had a return on equity of 17.88% and a net margin of 8.84%. The company’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the company earned $1.81 EPS. On average, analysts expect that WEX will post 8.6 EPS for the current year.
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 processing services.
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