Corpay (NYSE:CPAY) Price Target Raised to $325.00

Corpay (NYSE:CPAY) had its target price upped by Morgan Stanley from $275.00 to $325.00 in a research note released on Tuesday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other research analysts also recently issued reports on CPAY. BMO Capital Markets boosted their price target on shares of Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Bank of America upped their price target on shares of Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. lifted their price objective on Corpay from $327.00 to $353.00 and gave the stock 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 target price on shares of Corpay in a research report on Thursday, August 8th. Finally, Wells Fargo & Company lifted their target price on Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Four 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 company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $353.46.

Corpay Stock Performance

Shares of Corpay stock opened at $329.72 on Tuesday. The stock has a market cap of $23.17 billion, a price-to-earnings ratio of 24.53, a P/E/G ratio of 1.39 and a beta of 1.22. Corpay has a twelve month low of $221.37 and a twelve month high of $355.47. The company’s fifty day moving average is $321.55 and its 200 day moving average is $294.63. 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 issued its quarterly earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share 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 quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.85 earnings per share. Sell-side analysts forecast that Corpay will post 17.83 EPS for the current year.

Institutional Investors Weigh In On Corpay

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. bought a new stake in Corpay during the 1st quarter worth approximately $2,431,089,000. JPMorgan Chase & Co. bought a new stake in Corpay during the first quarter worth $1,429,445,000. Price T Rowe Associates Inc. MD bought a new position in Corpay during the 1st quarter valued at $1,355,377,000. Boston Partners purchased a new position in Corpay during the 1st quarter worth $553,667,000. Finally, Sustainable Growth Advisers LP bought a new stake in shares of Corpay in the 1st quarter worth $553,279,000. 98.84% of the stock is owned by institutional investors.

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.