Corpay, Inc. (NYSE:CPAY – Get Free Report)’s stock price hit a new 52-week high during trading on Thursday after BMO Capital Markets raised their price target on the stock from $350.00 to $390.00. BMO Capital Markets currently has an outperform rating on the stock. Corpay traded as high as $320.19 and last traded at $319.40, with a volume of 116932 shares. The stock had previously closed at $316.65.
A number of other equities analysts have also commented on CPAY. Royal Bank of Canada reissued a “sector perform” rating and issued a $310.00 price target on shares of Corpay in a report on Thursday, August 8th. JPMorgan Chase & Co. upped their price objective on shares of Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Wolfe Research raised shares of Corpay from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, September 3rd. Bank of America cut their price objective on shares of Corpay from $331.00 to $310.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Wells Fargo & Company initiated coverage on shares of Corpay in a research note on Wednesday, June 5th. They issued an “equal weight” rating and a $285.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $337.92.
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Institutional Investors Weigh In On Corpay
Corpay Stock Performance
The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74. The firm has a 50-day moving average price of $299.18. The company has a market capitalization of $22.50 billion, a PE ratio of 23.56, a PEG ratio of 1.24 and a beta of 1.22.
Corpay (NYSE:CPAY – Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.04. The company had revenue of $975.70 million during 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%. Corpay’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the business earned $3.85 EPS. Analysts expect that Corpay, Inc. will post 17.83 earnings per share for the current year.
About Corpay
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.
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