Brokerages Set WEX Inc. (NYSE:WEX) Price Target at $182.40

WEX Inc. (NYSE:WEX) has been given a consensus recommendation of “Hold” by the thirteen ratings firms that are covering the stock, Marketbeat.com reports. Ten research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $182.40.

A number of research analysts have weighed in on WEX shares. Keefe, Bruyette & Woods decreased their price objective on shares of WEX from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. William Blair restated a “market perform” rating on shares of WEX in a research note on Thursday, February 6th. Oppenheimer began coverage on WEX in a research note on Thursday, May 15th. They issued a “market perform” rating for the company. Wells Fargo & Company dropped their price objective on WEX from $160.00 to $140.00 and set an “equal weight” rating on the stock in a report on Thursday, April 24th. Finally, Jefferies Financial Group raised their price objective on WEX from $180.00 to $190.00 and gave the company a “hold” rating in a report on Wednesday, January 22nd.

WEX Stock Down 0.3%

WEX stock opened at $137.22 on Friday. The firm has a 50 day moving average of $136.08 and a 200 day moving average of $160.04. The stock has a market capitalization of $4.70 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 2.06 and a beta of 1.26. WEX has a 52 week low of $110.45 and a 52 week high of $217.47. The company has a quick ratio of 1.04, a current ratio of 1.02 and a debt-to-equity ratio of 2.07.

WEX (NYSE:WEX) last released its 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. WEX had a return on equity of 32.35% and a net margin of 11.78%. The firm had revenue of $636.60 million during the quarter, compared to the consensus estimate of $631.42 million. During the same quarter in the previous year, the company posted $3.46 earnings per share. The company’s revenue was down 2.5% compared to the same quarter last year. Sell-side analysts forecast that WEX will post 14.09 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Investment Management Corp VA ADV acquired a new stake in shares of WEX in the fourth quarter valued at about $25,000. State of Wyoming purchased a new stake in WEX during the 4th quarter valued at about $35,000. Jones Financial Companies Lllp grew its stake in WEX by 108.4% during the 4th quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider’s stock valued at $43,000 after acquiring an additional 129 shares in the last quarter. Farther Finance Advisors LLC grew its stake in WEX by 161.5% during the 1st quarter. Farther Finance Advisors LLC now owns 272 shares of the business services provider’s stock valued at $44,000 after acquiring an additional 168 shares in the last quarter. Finally, Quarry LP purchased a new stake in WEX during the 1st quarter valued at about $44,000. Hedge funds and other institutional investors own 97.47% of the company’s stock.

WEX Company Profile

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.