WEX (WEX) PT Raised to $197.00 at Morgan Stanley

WEX (NYSE:WEX) had its target price boosted by investment analysts at Morgan Stanley from $190.00 to $197.00 in a research report issued to clients and investors on Friday, March 22nd, Stock Target Advisor reports. The firm currently has an “equal weight” rating on the business services provider’s stock. Morgan Stanley’s price objective would suggest a potential downside of 3.14% from the stock’s previous close.

Several other research firms also recently commented on WEX. BTIG Research began coverage on WEX in a research note on Thursday, January 17th. They issued a “buy” rating and a $198.00 price objective for the company. Zacks Investment Research upgraded WEX from a “sell” rating to a “hold” rating in a report on Saturday, January 12th. ValuEngine upgraded WEX from a “hold” rating to a “buy” rating in a report on Friday, February 8th. Wolfe Research upgraded WEX from a “market perform” rating to an “outperform” rating in a report on Friday, January 4th. Finally, Wells Fargo & Co restated an “outperform” rating and issued a $180.00 target price (down from $200.00) on shares of WEX in a report on Wednesday, January 16th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $201.42.

NYSE WEX traded up $0.80 during trading hours on Friday, reaching $203.38. The stock had a trading volume of 172,389 shares, compared to its average volume of 377,222. The firm has a market cap of $8.74 billion, a P/E ratio of 26.62, a P/E/G ratio of 1.59 and a beta of 1.52. WEX has a 52-week low of $131.35 and a 52-week high of $203.77. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 1.19.

WEX (NYSE:WEX) last released its quarterly earnings data on Wednesday, March 20th. The business services provider reported $1.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.93 by $0.01. The business had revenue of $381.20 million for the quarter, compared to analyst estimates of $372.57 million. WEX had a return on equity of 18.30% and a net margin of 11.18%. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.49 EPS. As a group, research analysts expect that WEX will post 8.4 earnings per share for the current year.

In related news, CEO Melissa D. Smith sold 5,000 shares of the firm’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $200.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief executive officer now directly owns 75,783 shares in the company, valued at approximately $15,156,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicola S. Morris sold 992 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $184.05, for a total value of $182,577.60. Following the transaction, the insider now owns 11,848 shares of the company’s stock, valued at $2,180,624.40. The disclosure for this sale can be found here. Insiders have sold a total of 11,244 shares of company stock valued at $2,204,713 over the last 90 days. 4.57% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. Ffcm LLC raised its holdings in shares of WEX by 50.0% during the fourth quarter. Ffcm LLC now owns 210 shares of the business services provider’s stock worth $29,000 after acquiring an additional 70 shares in the last quarter. Ipswich Investment Management Co. Inc. purchased a new stake in shares of WEX during the fourth quarter worth $32,000. Advisory Services Network LLC raised its holdings in shares of WEX by 79.2% during the fourth quarter. Advisory Services Network LLC now owns 405 shares of the business services provider’s stock worth $57,000 after acquiring an additional 179 shares in the last quarter. Enlightenment Research LLC purchased a new stake in shares of WEX during the fourth quarter worth $98,000. Finally, Mondrian Capital Management LLC purchased a new stake in shares of WEX during the fourth quarter worth $140,000. Institutional investors own 99.07% of the company’s stock.

About WEX

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 processing services.

Further Reading: Are sell-side analysts objective?

Analyst Recommendations for WEX (NYSE:WEX)

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