SunTrust Banks set a $175.00 price objective on WEX (NYSE:WEX) in a research report sent to investors on Thursday morning. The brokerage currently has a buy rating on the business services provider’s stock. SunTrust Banks also issued estimates for WEX’s Q4 2017 earnings at $1.30 EPS and Q4 2018 earnings at $1.71 EPS.
WEX has been the subject of a number of other reports. Morgan Stanley lifted their price target on shares of WEX from $113.00 to $123.00 and gave the stock an equal weight rating in a research note on Thursday, November 2nd. Oppenheimer lifted their price target on shares of WEX from $120.00 to $130.00 and gave the stock an outperform rating in a research note on Thursday, November 2nd. Barclays lifted their price target on shares of WEX from $124.00 to $129.00 and gave the stock an equal weight rating in a research note on Thursday, November 2nd. TheStreet upgraded shares of WEX from a c+ rating to a b rating in a research note on Wednesday, November 1st. Finally, Citigroup lifted their price target on shares of WEX from $120.00 to $125.00 and gave the stock a neutral rating in a research note on Friday, November 3rd. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $149.36.
WEX (WEX) opened at $154.57 on Thursday. The company has a quick ratio of 0.69, a current ratio of 0.71 and a debt-to-equity ratio of 0.20. The stock has a market cap of $6,649.91, a PE ratio of 41.55, a price-to-earnings-growth ratio of 1.58 and a beta of 1.91. WEX has a twelve month low of $97.26 and a twelve month high of $159.65.
In related news, insider Scott Robert Phillips sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $127.68, for a total transaction of $2,553,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.00% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. First Mercantile Trust Co. bought a new stake in WEX during the fourth quarter valued at approximately $191,000. Private Advisor Group LLC bought a new stake in WEX during the fourth quarter valued at approximately $212,000. Advisory Services Network LLC grew its position in WEX by 4,540.6% during the fourth quarter. Advisory Services Network LLC now owns 1,485 shares of the business services provider’s stock valued at $210,000 after buying an additional 1,453 shares during the period. CIBC Asset Management Inc bought a new stake in WEX during the fourth quarter valued at approximately $211,000. Finally, Cigna Investments Inc. New bought a new stake in WEX during the fourth quarter valued at approximately $219,000.
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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