WEX (NYSE:WEX)‘s stock had its “buy” rating reissued by research analysts at Mizuho in a research report issued to clients and investors on Thursday, January 4th. They currently have a $180.00 price target on the business services provider’s stock. Mizuho’s target price would indicate a potential upside of 24.14% from the stock’s previous close.
Other analysts also recently issued reports about the stock. Goldman Sachs Group raised shares of WEX from a “neutral” rating to a “buy” rating and boosted their target price for the company from $114.00 to $126.00 in a research note on Monday, September 11th. TheStreet raised shares of WEX from a “c+” rating to a “b” rating in a research note on Wednesday, November 1st. Oppenheimer boosted their target price on shares of WEX from $120.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, November 2nd. Zacks Investment Research raised shares of WEX from a “hold” rating to a “buy” rating and set a $134.00 target price on the stock in a research note on Friday, October 13th. Finally, Barclays boosted their target price on shares of WEX from $118.00 to $124.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 11th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. WEX currently has a consensus rating of “Buy” and an average target price of $133.08.
Shares of WEX (NYSE:WEX) traded up $2.52 during trading hours on Thursday, hitting $145.00. The stock had a trading volume of 269,100 shares, compared to its average volume of 318,087. WEX has a one year low of $97.26 and a one year high of $146.74. The firm has a market cap of $6,130.00, a P/E ratio of 72.86, a PEG ratio of 1.69 and a beta of 1.87. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.69 and a quick ratio of 0.69.
WEX (NYSE:WEX) last announced its quarterly earnings data on Wednesday, November 1st. The business services provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.14. WEX had a return on equity of 13.16% and a net margin of 7.09%. The company had revenue of $324.00 million during the quarter, compared to the consensus estimate of $312.57 million. During the same quarter in the prior year, the firm earned $1.25 EPS. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. research analysts expect that WEX will post 4.9 earnings per share for the current fiscal year.
WEX declared that its board has authorized a share buyback program on Tuesday, September 26th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
In other news, insider Scott Robert Phillips sold 20,000 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $127.68, for a total value of $2,553,600.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James Neary sold 177,207 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $120.00, for a total transaction of $21,264,840.00. The disclosure for this sale can be found here. Insiders sold 200,541 shares of company stock worth $24,235,190 over the last ninety days. 9.00% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of WEX. Fiduciary Trust Co. bought a new stake in WEX in the second quarter worth $192,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in WEX by 9.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,850 shares of the business services provider’s stock worth $193,000 after purchasing an additional 162 shares in the last quarter. Jane Street Group LLC boosted its holdings in WEX by 104.3% in the third quarter. Jane Street Group LLC now owns 1,786 shares of the business services provider’s stock worth $200,000 after purchasing an additional 43,763 shares in the last quarter. Raymond James Trust N.A. bought a new stake in WEX in the second quarter worth $202,000. Finally, Quantitative Systematic Strategies LLC bought a new stake in WEX in the third quarter worth $203,000.
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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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