Corpay (NYSE:CPAY) Reaches New 12-Month High on Analyst Upgrade

Corpay, Inc. (NYSE:CPAY)’s stock price reached a new 52-week high on Friday after Keefe, Bruyette & Woods raised their price target on the stock from $380.00 to $400.00. Keefe, Bruyette & Woods currently has an outperform rating on the stock. Corpay traded as high as $368.12 and last traded at $368.00, with a volume of 44974 shares changing hands. The stock had previously closed at $346.50.

Several other research analysts have also issued reports on the stock. Raymond James decreased their price target 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. William Blair raised Corpay to a “strong-buy” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. increased their price target on Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Royal Bank of Canada restated a “sector perform” rating and set a $310.00 price objective on shares of Corpay in a report on Thursday, August 8th. Finally, Wolfe Research upgraded shares of Corpay from an “underperform” rating to a “peer perform” rating in a report on Tuesday, September 3rd. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $356.79.

Institutional Investors Weigh In On Corpay

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Albion Financial Group UT acquired a new stake in shares of Corpay during the 3rd quarter valued at about $27,000. Headlands Technologies LLC acquired a new stake in Corpay in the first quarter valued at approximately $31,000. RFP Financial Group LLC bought a new stake in Corpay in the first quarter worth approximately $35,000. LGT Financial Advisors LLC acquired a new position in shares of Corpay during the 2nd quarter worth $33,000. Finally, Huntington National Bank raised its holdings in shares of Corpay by 43.0% during the 3rd quarter. Huntington National Bank now owns 133 shares of the company’s stock valued at $42,000 after purchasing an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Stock Performance

The firm has a market cap of $25.41 billion, a price-to-earnings ratio of 26.60, a price-to-earnings-growth ratio of 1.38 and a beta of 1.21. The firm’s 50 day moving average is $325.93 and its 200-day moving average is $296.50. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.02 and a current ratio of 1.02.

Corpay (NYSE:CPAY) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.85 earnings per share. Sell-side analysts anticipate that Corpay, Inc. will post 17.96 earnings per share for the current fiscal year.

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.