Bank of America Boosts Corpay (NYSE:CPAY) Price Target to $375.00

Corpay (NYSE:CPAY) had its price objective boosted by stock analysts at Bank of America from $344.00 to $375.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price objective points to a potential upside of 8.69% from the company’s current price.

Other analysts have also issued research reports about the stock. Jefferies Financial Group increased their price objective on shares of Corpay from $350.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Wolfe Research upgraded shares of Corpay from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, September 3rd. Evercore ISI cut their price objective on shares of Corpay from $350.00 to $345.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Raymond James cut their price objective on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, William Blair upgraded shares of Corpay to a “strong-buy” rating in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $350.42.

Corpay Trading Up 0.7 %

NYSE CPAY opened at $345.01 on Tuesday. The company has a fifty day simple moving average of $309.74 and a two-hundred day simple moving average of $291.73. The stock has a market cap of $24.24 billion, a P/E ratio of 25.67, a P/E/G ratio of 1.33 and a beta of 1.22. Corpay has a 12-month low of $220.39 and a 12-month high of $348.28. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74.

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

Institutional Trading of Corpay

Several institutional investors have recently modified their holdings of the stock. Bleakley Financial Group LLC grew its position in shares of Corpay by 38.3% in the third quarter. Bleakley Financial Group LLC now owns 1,061 shares of the company’s stock valued at $332,000 after purchasing an additional 294 shares during the period. Vontobel Holding Ltd. grew its position in shares of Corpay by 6.4% in the third quarter. Vontobel Holding Ltd. now owns 812 shares of the company’s stock valued at $254,000 after purchasing an additional 49 shares during the period. Swedbank AB lifted its stake in shares of Corpay by 46.3% in the third quarter. Swedbank AB now owns 186,117 shares of the company’s stock worth $58,210,000 after buying an additional 58,900 shares in the last quarter. Birch Capital Management LLC lifted its stake in shares of Corpay by 4.9% in the third quarter. Birch Capital Management LLC now owns 7,485 shares of the company’s stock worth $2,341,000 after buying an additional 348 shares in the last quarter. Finally, Creative Planning lifted its stake in shares of Corpay by 26.4% in the third quarter. Creative Planning now owns 6,247 shares of the company’s stock worth $1,954,000 after buying an additional 1,305 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

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.