Corpay (NYSE:CPAY) Price Target Raised to $331.00

Corpay (NYSE:CPAY) had its price target hoisted by Bank of America from $326.00 to $331.00 in a research note published on Friday, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently weighed in on CPAY. Robert W. Baird boosted their price target on Corpay from $355.00 to $376.00 and gave the company an outperform rating in a report on Thursday, April 4th. Wolfe Research downgraded Corpay from a peer perform rating to an underperform rating and set a $295.00 price target for the company. in a report on Friday, May 17th. Wells Fargo & Company began coverage on Corpay in a report on Wednesday, June 5th. They issued an equal weight rating and a $285.00 price target for the company. Jefferies Financial Group boosted their price objective on Corpay from $340.00 to $355.00 and gave the company a buy rating in a research report on Friday, April 12th. Finally, Barclays lowered their price objective on Corpay from $355.00 to $350.00 and set an overweight rating for the company in a research note on Monday, May 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $334.11.

Corpay Stock Up 1.8 %

CPAY stock opened at $267.15 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.48. Corpay has a 52-week low of $220.39 and a 52-week high of $319.94. The business’s 50 day simple moving average is $278.80. The stock has a market cap of $18.77 billion, a P/E ratio of 19.88, a PEG ratio of 1.04 and a beta of 1.21.

Corpay (NYSE:CPAY) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $3.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.04. Corpay had a return on equity of 36.97% and a net margin of 26.29%. The company had revenue of $935.25 million for the quarter, compared to the consensus estimate of $936.25 million. As a group, sell-side analysts anticipate that Corpay will post 17.83 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. bought a new position in Corpay during the first quarter valued at about $2,431,089,000. JPMorgan Chase & Co. purchased a new stake in shares of Corpay during the first quarter valued at $1,429,445,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Corpay during the first quarter valued at $1,355,377,000. Boston Partners purchased a new stake in Corpay in the 1st quarter worth about $553,667,000. Finally, Sustainable Growth Advisers LP purchased a new stake in Corpay in the 1st quarter worth about $553,279,000. Institutional investors own 98.84% of the company’s stock.

Corpay Company Profile

Corpay, Inc operates as a payments company that helps businesses and consumers manage vehicle-related expenses, lodging expenses, and corporate payments in the United States, Brazil, the United Kingdom, and internationally. The company offers vehicle payment solutions, which include fuel, tolls, parking, fleet maintenance, and long-haul transportation services, as well as prepaid food and transportation vouchers and cards.