WEX Inc (WEX) was Upgraded by Barclays to ” Equal Weight” according to the research note released today. The brokerage firm has raised the Price Target to $ 98 from a previous price target of $80 . Earlier the firm had a rating of “Underweight ” on the company shares. Barclays advised their investors in a research report released on Jul 7, 2016.
Many Wall Street Analysts have commented on WEX Inc. WEX Inc was Initiated by SunTrust to “Neutral” on Jun 24, 2016. WEX Inc was Upgraded by JP Morgan to ” Neutral” on Apr 29, 2016. Company shares were Reiterated by Barclays on Apr 28, 2016 to “Underweight”, Firm has raised the Price Target to $ 80 from a previous price target of $66 .
On the company’s financial health, WEX Inc reported $0.97 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.86. The company had revenue of $205.90 million for the quarter, compared to analysts expectations of $199.87 million. The company’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.19 EPS.
WEX Inc closed down -0.48 points or -0.54% at $88 with 4,63,570 shares getting traded on Tuesday. Post opening the session at $87.68, the shares hit an intraday low of $86.268 and an intraday high of $88.575 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
In a different news, on Mar 2, 2016, Michael E Dubyak (director) purchased 3,800 shares at $66.37 per share price. According to the SEC, on Nov 3, 2015, George W Hogan (SVP, International) sold 2,791 shares at $89.74 per share price. On Nov 3, 2015, Jack Vanwoerkom (director) sold 5,500 shares at $89.79 per share price, according to the Form-4 filing with the securities and exchange commission.
WEX Inc. is a provider of corporate payment solutions. The Company operates in two segments: Fleet Payment Solutions and Other Payment Solutions. The Company’s Fleet Payment Solutions segment provides customers with fleet vehicle payment processing services for commercial and Government fleets. Its Other Payment Solutions segment comprises its virtual healthcare paycard and prepaid products. The Company’s United States operations include the Company and its wholly owned subsidiaries WEX Bank FleetOne and Evolution1. Its international operations include its wholly owned subsidiaries WEX Fuel Cards Australia WEX Prepaid Cards Australia WEX New Zealand WEX Europe Limited UNIK S.A. and WEX Europe Services Limited and its subsidiaries.