Corpay (NYSE:CPAY) Given New $385.00 Price Target at Barclays

Corpay (NYSE:CPAY) had its target price upped by Barclays from $330.00 to $385.00 in a research report report published on Thursday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts have also recently weighed in on CPAY. JPMorgan Chase & Co. boosted their price objective on Corpay from $327.00 to $353.00 and gave the company an overweight rating in a research note on Tuesday, August 20th. Royal Bank of Canada reissued a sector perform rating and issued a $310.00 target price on shares of Corpay in a report on Thursday, August 8th. Raymond James dropped their target price on Corpay from $330.00 to $311.00 and set an outperform rating on the stock in a report on Thursday, August 8th. Evercore ISI dropped their target price on Corpay from $350.00 to $345.00 and set an outperform rating on the stock in a report on Tuesday, June 25th. Finally, BMO Capital Markets boosted their target price on Corpay from $350.00 to $390.00 and gave the company an outperform rating in a report on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $340.83.

Corpay Price Performance

CPAY stock opened at $339.32 on Thursday. The business has a 50 day moving average price of $305.35 and a 200 day moving average price of $290.91. The stock has a market cap of $23.84 billion, a price-to-earnings ratio of 25.25, a PEG ratio of 1.33 and a beta of 1.22. Corpay has a fifty-two week low of $220.39 and a fifty-two week high of $342.95. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74.

Corpay (NYSE:CPAY) last posted its earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share for the quarter, topping the consensus estimate of $4.51 by $0.04. The firm 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 firm’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.85 earnings per share. Equities research analysts anticipate that Corpay will post 17.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Albion Financial Group UT acquired a new position in Corpay during the third quarter worth $27,000. Headlands Technologies LLC purchased a new position in shares of Corpay in the first quarter valued at $31,000. Sunbelt Securities Inc. purchased a new position in shares of Corpay in the first quarter valued at $34,000. RFP Financial Group LLC purchased a new position in shares of Corpay in the first quarter valued at $35,000. Finally, LGT Financial Advisors LLC purchased a new position in shares of Corpay in the second quarter valued at $33,000. Institutional investors and hedge funds 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.