WEX (NYSE:WEX) Earns Market Perform Rating from Analysts at Oppenheimer

Oppenheimer began coverage on shares of WEX (NYSE:WEX) in a research note released on Thursday, MarketBeat.com reports. The firm issued a market perform rating on the business services provider’s stock.

Other equities analysts have also recently issued research reports about the company. Robert W. Baird set a $186.00 target price on WEX in a report on Tuesday, February 18th. Mizuho dropped their target price on WEX from $215.00 to $170.00 and set an “outperform” rating for the company in a report on Monday, February 10th. Bank of America cut WEX from a “buy” rating to a “neutral” rating in a report on Thursday, February 6th. UBS Group dropped their target price on WEX from $172.00 to $138.00 and set a “neutral” rating for the company in a report on Friday, May 2nd. Finally, Wells Fargo & Company dropped their target price on WEX from $160.00 to $140.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. Ten research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $182.40.

WEX Stock Performance

NYSE WEX opened at $139.50 on Thursday. The stock has a market capitalization of $4.78 billion, a PE ratio of 18.60, a P/E/G ratio of 2.06 and a beta of 1.26. The business has a 50 day simple moving average of $136.60 and a two-hundred day simple moving average of $160.54. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.02 and a quick ratio of 1.04. WEX has a 1-year low of $110.45 and a 1-year high of $217.47.

WEX (NYSE:WEX) last announced its earnings results on Wednesday, April 30th. The business services provider reported $3.51 EPS for the quarter, topping analysts’ consensus estimates of $3.40 by $0.11. The firm had revenue of $636.60 million during the quarter, compared to analysts’ expectations of $631.42 million. WEX had a return on equity of 32.35% and a net margin of 11.78%. The company’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.46 EPS. On average, research analysts predict that WEX will post 14.09 EPS for the current fiscal year.

Institutional Investors Weigh In On WEX

Hedge funds have recently made changes to their positions in the company. Investment Management Corp VA ADV purchased a new stake in shares of WEX in the 4th quarter worth $25,000. State of Wyoming purchased a new stake in shares of WEX in the 4th quarter worth $35,000. Jones Financial Companies Lllp lifted its stake in shares of WEX by 108.4% during the 4th quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider’s stock worth $43,000 after purchasing an additional 129 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of WEX by 161.5% during the 1st quarter. Farther Finance Advisors LLC now owns 272 shares of the business services provider’s stock worth $44,000 after purchasing an additional 168 shares during the last quarter. Finally, Quarry LP purchased a new stake in shares of WEX during the 1st quarter worth $44,000. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

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.