Corpay, Inc. (NYSE:CPAY) Receives $332.50 Average Price Target from Analysts

Corpay, Inc. (NYSE:CPAY) has been given a consensus rating of “Moderate Buy” by the thirteen analysts that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $332.50.

Several research firms have recently weighed in on CPAY. Evercore ISI reduced their target price on shares of Corpay from $350.00 to $345.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Raymond James reduced their price objective on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Bank of America dropped their target price on Corpay from $331.00 to $310.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Jefferies Financial Group lifted their price target on Corpay from $295.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, Wolfe Research upgraded Corpay from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, September 3rd.

Corpay Stock Up 0.5 %

Corpay stock opened at $307.43 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74. The company has a market cap of $21.34 billion, a P/E ratio of 22.87, a P/E/G ratio of 1.22 and a beta of 1.22. The company’s 50 day moving average is $292.85. Corpay has a twelve month low of $220.39 and a twelve month high of $319.94.

Corpay (NYSE:CPAY) last released its 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 the consensus estimate of $973.84 million. Corpay had a return on equity of 38.93% and a net margin of 26.41%. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period last year, the business posted $3.85 earnings per share. Equities analysts expect that Corpay will post 17.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

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