WEX Inc. (NYSE:WEX) Given Consensus Recommendation of “Hold” by Brokerages

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

Several analysts have weighed in on the stock. William Blair reissued a “market perform” rating on shares of WEX in a research report on Thursday, February 6th. Mizuho dropped their target price on shares of WEX from $215.00 to $170.00 and set an “outperform” rating on the stock in a research report on Monday, February 10th. Bank of America downgraded shares of WEX from a “buy” rating to a “neutral” rating in a research report on Thursday, February 6th. Robert W. Baird set a $186.00 target price on shares of WEX in a research report on Tuesday, February 18th. Finally, UBS Group dropped their price objective on shares of WEX from $172.00 to $138.00 and set a “neutral” rating on the stock in a report on Friday, May 2nd.

Hedge Funds Weigh In On WEX

Several large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in shares of WEX by 105.8% in the 4th quarter. JPMorgan Chase & Co. now owns 2,046,614 shares of the business services provider’s stock valued at $358,812,000 after purchasing an additional 1,052,087 shares during the period. Earnest Partners LLC lifted its stake in shares of WEX by 2.6% in the 1st quarter. Earnest Partners LLC now owns 895,406 shares of the business services provider’s stock valued at $140,597,000 after purchasing an additional 22,672 shares during the period. Lyrical Asset Management LP lifted its stake in shares of WEX by 0.3% in the 1st quarter. Lyrical Asset Management LP now owns 826,188 shares of the business services provider’s stock valued at $129,728,000 after purchasing an additional 2,754 shares during the period. River Road Asset Management LLC lifted its stake in shares of WEX by 0.7% in the 4th quarter. River Road Asset Management LLC now owns 725,842 shares of the business services provider’s stock valued at $127,255,000 after purchasing an additional 5,377 shares during the period. Finally, Hsbc Holdings PLC lifted its stake in shares of WEX by 20,412.8% in the 1st quarter. Hsbc Holdings PLC now owns 638,563 shares of the business services provider’s stock valued at $99,069,000 after purchasing an additional 635,450 shares during the period. 97.47% of the stock is currently owned by institutional investors and hedge funds.

WEX Stock Up 1.6%

Shares of WEX stock opened at $139.50 on Friday. The firm’s 50 day moving average price is $136.60 and its 200-day moving average price is $160.54. 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 has a 52-week low of $110.45 and a 52-week high of $217.47. The company has a market cap of $4.78 billion, a P/E ratio of 18.60, a PEG ratio of 2.06 and a beta of 1.26.

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

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.