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WEX Inc (NYSE:WEX) close to 52-week high, short interest decreasing

May 21
08:40 2015

WEX Inc (NYSE:WEX) (TREND ANALYSIS) shares were traded with thin volume. The stock closed last trading session at $116.54, down by -0.77%, with a volume of 250,861 shares against an average volume for the last 3 months of 280,453.

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WEX Inc (NYSE:WEX) is currently trading 2.16% below its 52-week-high, 28.42% above its 52-week-low. The 1-year range for the stock is $90.75 – $119.11. WEX Inc (WEX) has a price to earnings ratio of 24.17 versus Services sector average of 27.72. WEX stock price has outperformed the S&P 500 by 14.2%. The Commercial Services company is currently valued at $4.5 billion and its share price closed the last trading session at $116.54. The stock has a 50-day moving average of $112.55 and a 200-day moving average of $105.78.

WEX Inc (WEX) current short interest stands at 1.55 million shares. It has decreased by 5% from the same period of last month. Around 5% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.26 million shares, the number of days required to cover the short positions stand at 6 days.

WEX reported last quarter earnings on April 29. The Commercial Services company announced earnings per share of $1.04 against a consensus Street estimate of $0.93, beating the average estimate by $0.11. This corresponds to a decrease of $0.15 compared to the same quarter of the previous fiscal year.

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There are currently fourteen analysts that cover WEX stock. Of those fourteen, six have a Buy rating, seven have a Hold rating and one has a Sell rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $119.46.

A recent analyst activity consisted of CLSA who initiated their coverage on the stock with Underperform rating on May 20. CLSA fixed their price target at $120. This corresponds to a 2.97% upside from the last closing price. On the date of report, the stock closed at $116.54.

Citigroup reiterated their Buy stance on May 6, and increased their price target on WEX stock from $130 to $134. This corresponds to a 14.98% upside from the last closing price. On the date of report, the stock closed at $115.26.

Another research firm was Keefe Bruyette & Woods who reiterated their Outperform stance on May 1. Keefe Bruyette & Woods increased their price target on WEX Inc from $119 to $130. This translates to a 11.55% upside from the last closing price. On the date of report, the stock closed at $113.21.

Company profile

WEX Inc. provides payment processing and information management services to the United States commercial and government vehicle fleet industry. The Company markets services directly to businesses and government agencies with vehicle fleets, automotive manufacturers, fuel retailers.

About Author

Robert Venne

Robert Venne

Robert Venne is a senior contributor that covers Biopharma companies and health stocks. Prior to joining Markets Wired, Rob was a media analyst at Raymond James.

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