Jefferies Financial Group Boosts Corpay (NYSE:CPAY) Price Target to $375.00

Corpay (NYSE:CPAY) had its price target raised by analysts at Jefferies Financial Group from $350.00 to $375.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price objective would suggest a potential upside of 22.07% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $310.00 price objective on shares of Corpay in a research note on Thursday, August 8th. Evercore ISI lowered their price objective on shares of Corpay from $350.00 to $345.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Bank of America lowered their price target on shares of Corpay from $331.00 to $310.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Raymond James lowered their price target on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Wells Fargo & Company initiated coverage on shares of Corpay in a research report on Wednesday, June 5th. They set an “equal weight” rating and a $285.00 price objective on the stock. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $334.58.

Corpay Trading Up 0.1 %

Shares of CPAY traded up $0.31 during trading hours on Wednesday, reaching $307.19. 382,291 shares of the stock traded hands, compared to its average volume of 461,954. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74. The stock has a fifty day moving average price of $294.31. Corpay has a 52 week low of $220.39 and a 52 week high of $319.94. The stock has a market cap of $21.59 billion, a P/E ratio of 22.86, a price-to-earnings-growth ratio of 1.22 and a beta of 1.22.

Corpay (NYSE:CPAY) last released its quarterly earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates of $4.51 by $0.04. The company had revenue of $975.70 million for the quarter, compared to analyst estimates of $973.84 million. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The firm’s revenue was up 2.9% on a year-over-year basis. During the same period last year, the firm earned $3.85 earnings per share. Analysts predict that Corpay will post 17.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Corpay

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. purchased a new stake in shares of Corpay during the first quarter worth about $2,431,089,000. JPMorgan Chase & Co. acquired a new position in shares of Corpay during the 1st quarter worth approximately $1,429,445,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Corpay during the 1st quarter worth approximately $1,355,377,000. Boston Partners acquired a new position in shares of Corpay during the 1st quarter worth approximately $553,667,000. Finally, Sustainable Growth Advisers LP acquired a new position in Corpay in the 1st quarter valued at $553,279,000. Hedge funds and other 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.