Corpay (NYSE:CPAY) Sets New 52-Week High After Analyst Upgrade

Corpay, Inc. (NYSE:CPAY) shares hit a new 52-week high during mid-day trading on Friday after Barclays raised their price target on the stock from $330.00 to $385.00. Barclays currently has an overweight rating on the stock. Corpay traded as high as $341.15 and last traded at $340.92, with a volume of 33930 shares changing hands. The stock had previously closed at $335.87.

Several other equities research analysts have also commented on the stock. Bank of America decreased their target price on shares of Corpay from $331.00 to $310.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Royal Bank of Canada restated a “sector perform” rating and set a $310.00 target price on shares of Corpay in a research report on Thursday, August 8th. William Blair upgraded shares of Corpay to a “strong-buy” rating in a research report on Thursday, August 8th. Raymond James decreased their target price on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Evercore ISI decreased their price objective on shares of Corpay from $350.00 to $345.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $340.83.

Institutional Trading of Corpay

Institutional investors and hedge funds have recently bought and sold shares of the business. Albion Financial Group UT acquired a new stake in Corpay during the 3rd quarter worth approximately $27,000. Headlands Technologies LLC purchased a new position in Corpay in the 1st quarter worth approximately $31,000. Sunbelt Securities Inc. purchased a new position in Corpay in the 1st quarter worth approximately $34,000. RFP Financial Group LLC purchased a new position in Corpay in the 1st quarter worth approximately $35,000. Finally, LGT Financial Advisors LLC purchased a new position in shares of Corpay during the 2nd quarter valued at approximately $33,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

Corpay Stock Performance

The company has a market capitalization of $23.56 billion, a PE ratio of 24.66, a PEG ratio of 1.33 and a beta of 1.22. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.02 and a current ratio of 1.02. The company has a 50 day moving average price of $305.35 and a 200 day moving average price of $291.01.

Corpay (NYSE:CPAY) last released its earnings results on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, beating the consensus estimate of $4.51 by $0.04. The company had revenue of $975.70 million during the quarter, compared to analysts’ expectations of $973.84 million. Corpay had a return on equity of 38.93% and a net margin of 26.41%. The business’s revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $3.85 EPS. Equities analysts forecast that Corpay, Inc. will post 17.83 EPS 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.