WEX (NYSE:WEX) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

WEX (NYSE:WEX) had its target price hoisted by Jefferies Financial Group from $130.00 to $135.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a hold rating on the business services provider’s stock.

WEX has been the topic of several other research reports. 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. William Blair reaffirmed a “market perform” rating on shares of WEX in a report on Thursday, February 6th. Oppenheimer initiated coverage on WEX in a report on Thursday, May 15th. They set a “market perform” rating on the stock. Bank of America lowered WEX from a “buy” rating to a “neutral” rating in a report on Thursday, February 6th. Finally, Barclays dropped their price objective on WEX from $200.00 to $155.00 and set an “equal weight” rating on the stock in a report on Monday, February 10th. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $176.90.

WEX Stock Performance

NYSE:WEX opened at $134.16 on Tuesday. The firm has a market capitalization of $4.59 billion, a PE ratio of 17.89, a price-to-earnings-growth ratio of 2.06 and a beta of 1.26. The business’s fifty day moving average price is $133.09 and its 200 day moving average price is $157.98. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.02 and a quick ratio of 1.04. WEX has a 12 month low of $110.45 and a 12 month high of $217.47.

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

Hedge Funds Weigh In On WEX

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Investment Management Corp VA ADV purchased a new position in shares of WEX during the fourth quarter worth about $25,000. State of Wyoming acquired a new stake in shares of WEX during the 4th quarter valued at approximately $35,000. Jones Financial Companies Lllp increased its stake in shares of WEX by 108.4% during the 4th 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 in the last quarter. Quadrant Capital Group LLC increased its stake in shares of WEX by 72.2% during the 4th quarter. Quadrant Capital Group LLC now owns 272 shares of the business services provider’s stock worth $48,000 after purchasing an additional 114 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in shares of WEX by 161.5% during the 1st 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 in the last quarter. 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.