WEX (NYSE:WEX – Get Rating) had its price objective dropped by equities researchers at Mizuho from $220.00 to $200.00 in a note issued to investors on Monday, The Fly reports. The firm currently has a “buy” rating on the business services provider’s stock. Mizuho’s price objective would suggest a potential upside of 22.51% from the stock’s current price.
WEX has been the subject of several other reports. Morgan Stanley boosted their target price on shares of WEX from $148.00 to $157.00 and gave the stock an “equal weight” rating in a research report on Friday, October 28th. Barclays boosted their price objective on shares of WEX from $211.00 to $213.00 and gave the stock an “overweight” rating in a research note on Monday, October 31st. Bank of America reduced their price objective on shares of WEX from $225.00 to $180.00 and set a “buy” rating for the company in a research note on Thursday, October 20th. Truist Financial boosted their price objective on shares of WEX from $145.00 to $170.00 in a research note on Monday, October 31st. Finally, Robert W. Baird boosted their price objective on shares of WEX from $170.00 to $180.00 in a research note on Friday, October 28th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $190.42.
WEX Stock Performance
WEX stock opened at $163.25 on Monday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.62. The company has a market capitalization of $7.12 billion, a price-to-earnings ratio of 73.87, a P/E/G ratio of 0.74 and a beta of 1.63. WEX has a 12 month low of $123.01 and a 12 month high of $183.38. The firm has a 50 day moving average of $146.87 and a two-hundred day moving average of $156.58.
Insider Activity at WEX
Hedge Funds Weigh In On WEX
A number of hedge funds have recently made changes to their positions in WEX. CWM LLC raised its stake in shares of WEX by 276.7% in the 1st quarter. CWM LLC now owns 162 shares of the business services provider’s stock valued at $29,000 after buying an additional 119 shares in the last quarter. Truist Financial Corp bought a new stake in shares of WEX in the 1st quarter worth about $206,000. Comerica Bank grew its holdings in shares of WEX by 1.2% in the 1st quarter. Comerica Bank now owns 20,906 shares of the business services provider’s stock worth $3,638,000 after purchasing an additional 246 shares during the last quarter. Keybank National Association OH grew its holdings in shares of WEX by 8.1% in the 1st quarter. Keybank National Association OH now owns 2,036 shares of the business services provider’s stock worth $363,000 after purchasing an additional 152 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of WEX by 28.1% in the 1st quarter. SG Americas Securities LLC now owns 31,846 shares of the business services provider’s stock worth $5,683,000 after purchasing an additional 6,990 shares during the last quarter. Institutional investors and hedge funds own 99.50% of the company’s stock.
WEX Company Profile
WEX Inc provides financial technology services in the United States and internationally. 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. Its services include customer, account activation, and account retention services; authorization and billing inquiries, and account maintenance services; credit and collections services; merchant services; analytics solutions with access to web-based data analytics platform that offers insights to fleet managers; and ancillary services and tools to fleets to manage expenses and capital requirements.
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