WEX (WEX) Downgraded by ValuEngine to Hold

ValuEngine lowered shares of WEX (NYSE:WEX) from a buy rating to a hold rating in a research note published on Tuesday.

WEX has been the topic of a number of other research reports. Wells Fargo & Co raised WEX from a market perform rating to an outperform rating and boosted their price objective for the stock from $190.00 to $200.00 in a research note on Thursday, November 1st. Zacks Investment Research raised WEX from a hold rating to a buy rating and set a $211.00 price objective on the stock in a research note on Saturday, October 13th. Morgan Stanley boosted their price objective on WEX from $172.00 to $188.00 and gave the stock a hold rating in a research note on Thursday, July 19th. SunTrust Banks reissued a buy rating and set a $215.00 price objective on shares of WEX in a research note on Friday, August 3rd. Finally, Citigroup boosted their price objective on WEX from $200.00 to $235.00 and gave the stock a buy rating in a research note on Friday, July 20th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $198.80.

NYSE WEX opened at $163.95 on Tuesday. The firm has a market cap of $7.43 billion, a price-to-earnings ratio of 34.88, a P/E/G ratio of 1.51 and a beta of 1.73. The company has a current ratio of 1.50, a quick ratio of 1.44 and a debt-to-equity ratio of 1.16. WEX has a fifty-two week low of $118.40 and a fifty-two week high of $203.49.

WEX (NYSE:WEX) last released its quarterly earnings data on Wednesday, October 31st. The business services provider reported $2.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.12 by $0.07. The company had revenue of $382.70 million for the quarter, compared to analyst estimates of $375.15 million. WEX had a return on equity of 16.92% and a net margin of 15.63%. The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.43 earnings per share. Equities analysts anticipate that WEX will post 7.59 EPS for the current year.

A number of large investors have recently bought and sold shares of the business. Wendell David Associates Inc. raised its position in WEX by 1.6% in the second quarter. Wendell David Associates Inc. now owns 18,240 shares of the business services provider’s stock valued at $3,474,000 after purchasing an additional 285 shares during the period. Louisiana State Employees Retirement System raised its holdings in shares of WEX by 2.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 10,800 shares of the business services provider’s stock valued at $2,057,000 after buying an additional 300 shares during the period. Aperio Group LLC raised its holdings in shares of WEX by 2.6% in the 2nd quarter. Aperio Group LLC now owns 13,689 shares of the business services provider’s stock valued at $2,607,000 after buying an additional 347 shares during the period. HM Payson & Co. raised its holdings in shares of WEX by 4.2% in the 2nd quarter. HM Payson & Co. now owns 8,903 shares of the business services provider’s stock valued at $1,696,000 after buying an additional 360 shares during the period. Finally, Cutler Group LP raised its holdings in shares of WEX by 133.3% in the 2nd quarter. Cutler Group LP now owns 700 shares of the business services provider’s stock valued at $133,000 after buying an additional 400 shares during the period. Institutional investors own 99.42% of the company’s stock.

WEX Company Profile

WEX Inc provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment and processing services.

Further Reading: Cost of Capital

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Analyst Recommendations for WEX (NYSE:WEX)

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