WEX (NYSE:WEX) Rating Lowered to “Peer Perform” at Wolfe Research

by · The Markets Daily

Wolfe Research lowered shares of WEX (NYSE:WEX – Free Report) from an outperform rating to a peer perform rating in a research report released on Monday, MarketBeat reports.

A number of other research analysts have also recently issued reports on WEX. Jefferies Financial Group increased their target price on shares of WEX from $190.00 to $210.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. reduced their price objective on WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. Wells Fargo & Company lowered their target price on WEX from $200.00 to $180.00 and set an “equal weight” rating on the stock in a report on Friday, October 25th. Keefe, Bruyette & Woods cut their price target on WEX from $275.00 to $230.00 and set an “outperform” rating for the company in a research note on Monday, July 8th. Finally, Robert W. Baird lowered their price objective on shares of WEX from $285.00 to $230.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, WEX presently has a consensus rating of “Moderate Buy” and an average target price of $235.91.

View Our Latest Report on WEX

WEX Stock Down 0.7 %

WEX opened at $172.60 on Monday. The business has a 50 day simple moving average of $199.35 and a 200-day simple moving average of $192.94. WEX has a 12 month low of $162.97 and a 12 month high of $244.04. The stock has a market capitalization of $6.87 billion, a P/E ratio of 21.90, a P/E/G ratio of 1.24 and a beta of 1.55. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.04 and a quick ratio of 1.04.

WEX (NYSE:WEX – Get Free Report) last issued its earnings results on Thursday, October 24th. The business services provider reported $4.35 EPS for the quarter, topping the consensus estimate of $3.82 by $0.53. The company had revenue of $665.50 million for the quarter, compared to analyst estimates of $688.03 million. WEX had a net margin of 12.45% and a return on equity of 31.35%. The business’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $3.44 EPS. On average, equities analysts anticipate that WEX will post 13.65 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Jagtar Narula sold 508 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $200.00, for a total transaction of $101,600.00. Following the transaction, the chief financial officer now directly owns 7,120 shares of the company’s stock, valued at approximately $1,424,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, COO Robert Joseph Deshaies sold 1,651 shares of WEX stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.67, for a total value of $299,937.17. Following the completion of the sale, the chief operating officer now owns 7,757 shares in the company, valued at approximately $1,409,214.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jagtar Narula sold 508 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $200.00, for a total transaction of $101,600.00. Following the transaction, the chief financial officer now owns 7,120 shares in the company, valued at $1,424,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On WEX

Large investors have recently modified their holdings of the stock. International Assets Investment Management LLC acquired a new stake in WEX during the second quarter valued at approximately $33,000. Quarry LP lifted its stake in WEX by 717.4% during the second quarter. Quarry LP now owns 188 shares of the business services provider’s stock worth $33,000 after purchasing an additional 165 shares during the last quarter. Blue Trust Inc. boosted its holdings in WEX by 456.1% in the second quarter. Blue Trust Inc. now owns 228 shares of the business services provider’s stock worth $40,000 after purchasing an additional 187 shares during the period. Covestor Ltd boosted its holdings in WEX by 233.9% in the first quarter. Covestor Ltd now owns 187 shares of the business services provider’s stock worth $44,000 after purchasing an additional 131 shares during the period. Finally, Fidelis Capital Partners LLC bought a new stake in WEX during the first quarter valued at $60,000. Institutional investors own 97.47% of the company’s stock.

About WEX

(Get Free Report)

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.

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