WEX (NYSE:WEX) Sets New 52-Week Low – Here’s Why

WEX Inc. (NYSE:WEX)’s share price hit a new 52-week low during trading on Friday . The stock traded as low as $124.80 and last traded at $130.40, with a volume of 412656 shares. The stock had previously closed at $142.61.

Wall Street Analyst Weigh In

WEX has been the topic of several analyst reports. Wells Fargo & Company cut their target price on WEX from $180.00 to $160.00 and set an “equal weight” rating on the stock in a research report on Friday, February 7th. 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 research note on Friday, February 7th. Barclays dropped their price target on shares of WEX from $200.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Monday, February 10th. William Blair reaffirmed a “market perform” rating on shares of WEX in a research report on Thursday, February 6th. Finally, Robert W. Baird set a $186.00 price objective on shares of WEX in a research note on Tuesday, February 18th. Nine analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $187.80.

WEX Stock Down 11.0 %

The stock’s 50-day moving average price is $158.97 and its two-hundred day moving average price is $177.57. The company has a current ratio of 1.02, a quick ratio of 1.04 and a debt-to-equity ratio of 2.07. The stock has a market capitalization of $4.92 billion, a P/E ratio of 16.92, a P/E/G ratio of 2.06 and a beta of 1.33.

WEX (NYSE:WEX) last announced its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.16. WEX had a return on equity of 32.35% and a net margin of 11.78%. As a group, research analysts expect that WEX Inc. will post 14.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On WEX

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WEX. Wealth Enhancement Advisory Services LLC boosted its position in WEX by 298.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,769 shares of the business services provider’s stock worth $2,239,000 after purchasing an additional 9,561 shares during the period. Investment Management Corp VA ADV purchased a new stake in shares of WEX during the 4th quarter valued at approximately $25,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in WEX by 11.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 193,971 shares of the business services provider’s stock worth $34,007,000 after buying an additional 19,534 shares during the period. Vident Advisory LLC grew its stake in WEX by 4.3% in the 4th quarter. Vident Advisory LLC now owns 8,497 shares of the business services provider’s stock valued at $1,490,000 after buying an additional 354 shares in the last quarter. Finally, Twinbeech Capital LP bought a new stake in WEX during the 4th quarter valued at $2,049,000. 97.47% of the stock is currently owned by 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.