WEX Inc. (NYSE:WEX) Receives $187.80 Consensus Price Target from Analysts

Shares of WEX Inc. (NYSE:WEX) have received a consensus rating of “Hold” from the twelve research firms that are currently covering the stock, MarketBeat.com reports. Nine analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $187.80.

WEX has been the subject of several research analyst reports. Keefe, Bruyette & Woods reduced their target price on shares of WEX from $220.00 to $200.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Bank of America downgraded WEX from a “buy” rating to a “neutral” rating in a research report on Thursday, February 6th. Wells Fargo & Company dropped their price target on WEX from $180.00 to $160.00 and set an “equal weight” rating for the company in a report on Friday, February 7th. Citigroup lowered WEX from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $260.00 to $190.00 in a report on Tuesday, January 14th. Finally, William Blair reissued a “market perform” rating on shares of WEX in a report on Thursday, February 6th.

WEX Trading Down 11.0 %

Shares of NYSE:WEX opened at $126.88 on Friday. WEX has a 52-week low of $124.30 and a 52-week high of $242.44. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.04 and a current ratio of 1.02. The company has a market capitalization of $4.92 billion, a P/E ratio of 16.92, a price-to-earnings-growth ratio of 2.06 and a beta of 1.61. The company has a 50-day simple moving average of $158.97 and a 200 day simple moving average of $177.75.

WEX (NYSE:WEX) last released its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.16. WEX had a return on equity of 32.35% and a net margin of 11.78%. Sell-side analysts forecast that WEX will post 14.09 earnings per share for the current year.

Hedge Funds Weigh In On WEX

Several hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in WEX by 105.8% during the fourth 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 in the last quarter. Norges Bank acquired a new position in shares of WEX during the 4th quarter worth $80,535,000. D. E. Shaw & Co. Inc. boosted its stake in WEX by 1,684.2% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 201,922 shares of the business services provider’s stock valued at $35,401,000 after buying an additional 190,605 shares in the last quarter. Ariel Investments LLC grew its position in WEX by 113.0% in the fourth quarter. Ariel Investments LLC now owns 318,272 shares of the business services provider’s stock valued at $55,799,000 after acquiring an additional 168,832 shares during the last quarter. Finally, Wealthfront Advisers LLC acquired a new position in WEX during the fourth quarter worth about $28,689,000. 97.47% of the stock is currently owned by institutional investors and hedge funds.

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.