WEX Inc. (NYSE:WEX) Given Average Rating of “Hold” by Brokerages

WEX Inc. (NYSE:WEX) has earned a consensus rating of “Hold” from the thirteen research firms that are covering the stock, MarketBeat reports. Ten equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $182.40.

Several analysts have recently issued reports on WEX shares. Robert W. Baird set a $186.00 price objective on WEX in a research note on Tuesday, February 18th. Wells Fargo & Company reduced their price objective on WEX from $160.00 to $140.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. William Blair reiterated a “market perform” rating on shares of WEX in a research note on Thursday, February 6th. Mizuho reduced their price objective on WEX from $215.00 to $170.00 and set an “outperform” rating on the stock in a research note on Monday, February 10th. Finally, Keefe, Bruyette & Woods reduced their price objective on WEX from $220.00 to $200.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th.

WEX Stock Up 3.3%

NYSE:WEX opened at $137.34 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.02 and a debt-to-equity ratio of 2.07. The stock’s fifty day moving average is $135.23 and its two-hundred day moving average is $159.62. WEX has a 52 week low of $110.45 and a 52 week high of $217.47. The stock has a market capitalization of $4.70 billion, a price-to-earnings ratio of 18.31, a price-to-earnings-growth ratio of 2.06 and a beta of 1.26.

WEX (NYSE:WEX) last released its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.51 EPS for the quarter, topping analysts’ consensus estimates of $3.40 by $0.11. The company had revenue of $636.60 million for the quarter, compared to analysts’ expectations of $631.42 million. WEX had a return on equity of 32.35% and a net margin of 11.78%. The firm’s revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.46 earnings per share. Research analysts anticipate that WEX will post 14.09 EPS for the current year.

Hedge Funds Weigh In On WEX

Several large investors have recently bought and sold shares of WEX. Investment Management Corp VA ADV purchased a new position in shares of WEX during the fourth quarter worth about $25,000. State of Wyoming purchased a new position in shares of WEX during the fourth quarter worth about $35,000. Jones Financial Companies Lllp grew its holdings in shares of WEX by 108.4% during the fourth quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider’s stock worth $43,000 after purchasing an additional 129 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of WEX by 161.5% during the first quarter. Farther Finance Advisors LLC now owns 272 shares of the business services provider’s stock worth $44,000 after purchasing an additional 168 shares during the last quarter. Finally, Quarry LP purchased a new position in shares of WEX during the first quarter worth about $44,000. Hedge funds and other institutional investors own 97.47% of the company’s stock.

About WEX

WEX Inc operates a commerce platform in the United States and internationally. The Mobility segment offers fleet vehicle payment solutions, transaction processing, and information management services; and provides account activation and account retention services; authorization and billing inquiries, and account maintenance services; account management; credit and collections services; merchant services; analytics solutions; and ancillary services and offerings.