WEX (NYSE:WEX) PT Set at $225.00 by BTIG Research

BTIG Research set a $225.00 target price on WEX (NYSE:WEX) in a research note released on Tuesday, April 2nd, The Fly reports. The firm currently has a buy rating on the business services provider’s stock.

A number of other equities research analysts have also issued reports on the company. Morgan Stanley upped their target price on WEX from $190.00 to $197.00 and gave the company an equal weight rating in a research note on Friday, March 22nd. William Blair reaffirmed an outperform rating on shares of WEX in a research note on Thursday, March 21st. SunTrust Banks upped their target price on WEX from $170.00 to $215.00 and gave the company a buy rating in a research note on Thursday, March 21st. Mizuho increased their price target on WEX from $190.00 to $200.00 and gave the stock a buy rating in a research note on Thursday, March 21st. Finally, Zacks Investment Research raised WEX from a sell rating to a hold rating in a research note on Wednesday, March 13th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $201.42.

NYSE WEX traded down $0.54 on Tuesday, hitting $208.21. 252,400 shares of the company’s stock were exchanged, compared to its average volume of 367,700. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 1.19. WEX has a fifty-two week low of $131.35 and a fifty-two week high of $209.35. The stock has a market capitalization of $9.00 billion, a price-to-earnings ratio of 27.25, a PEG ratio of 1.59 and a beta of 1.52.

WEX (NYSE:WEX) last released its earnings results on Wednesday, March 20th. The business services provider reported $1.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.93 by $0.01. The company had revenue of $381.20 million for the quarter, compared to analysts’ expectations of $372.57 million. WEX had a return on equity of 18.30% and a net margin of 11.18%. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.49 EPS. Equities analysts forecast that WEX will post 8.46 earnings per share for the current fiscal year.

In related news, insider David G. Cooper sold 167 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $186.05, for a total value of $31,070.35. Following the completion of the sale, the insider now directly owns 14,674 shares in the company, valued at approximately $2,730,097.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Nicola S. Morris sold 992 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $184.05, for a total value of $182,577.60. Following the completion of the sale, 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. Over the last quarter, insiders sold 11,244 shares of company stock valued at $2,204,713. 4.57% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in the company. Ffcm LLC lifted its position 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 purchasing an additional 70 shares during the last quarter. Ipswich Investment Management Co. Inc. bought a new position in shares of WEX during the fourth quarter worth about $32,000. Advisory Services Network LLC lifted its position 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 purchasing an additional 179 shares during the last quarter. Enlightenment Research LLC bought a new position in shares of WEX during the fourth quarter worth about $98,000. Finally, Mondrian Capital Management LLC bought a new position in shares of WEX during the fourth quarter worth about $140,000. Institutional investors own 99.48% 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.

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