Corpay (NYSE:CPAY – Free Report) had its price target hoisted by BMO Capital Markets from $350.00 to $390.00 in a research note issued to investors on Thursday morning, Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.
Several other brokerages have also recently weighed in on CPAY. Evercore ISI dropped their target price on Corpay from $350.00 to $345.00 and set an outperform rating for the company in a report on Tuesday, June 25th. William Blair upgraded Corpay to a strong-buy rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. raised their target price on Corpay from $327.00 to $353.00 and gave the stock an overweight rating in a report on Tuesday, August 20th. Wolfe Research raised Corpay from an underperform rating to a peer perform rating in a report on Tuesday, September 3rd. Finally, Royal Bank of Canada reissued a sector perform rating and set a $310.00 price target on shares of Corpay in a report on Thursday, August 8th. Three research 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. Based on data from MarketBeat, Corpay currently has an average rating of Moderate Buy and an average price target of $337.92.
View Our Latest Analysis on CPAY
Corpay Stock Up 3.8 %
Corpay (NYSE:CPAY – Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, beating analysts’ consensus estimates of $4.51 by $0.04. The company 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%. Corpay’s revenue was up 2.9% on a year-over-year basis. During the same period last year, the business posted $3.85 earnings per share. On average, equities research analysts anticipate that Corpay will post 17.83 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in CPAY. Headlands Technologies LLC purchased a new position in shares of Corpay during the first quarter valued at approximately $31,000. LGT Financial Advisors LLC purchased a new position in shares of Corpay during the second quarter valued at approximately $33,000. Sunbelt Securities Inc. purchased a new position in shares of Corpay during the first quarter valued at approximately $34,000. RFP Financial Group LLC purchased a new position in shares of Corpay during the first quarter valued at approximately $35,000. Finally, Blue Trust Inc. boosted its position in shares of Corpay by 246.2% during the second quarter. Blue Trust Inc. now owns 135 shares of the company’s stock valued at $36,000 after buying an additional 96 shares during the period. Hedge funds and other institutional investors 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.
Featured Articles
- Five stocks we like better than Corpay
- The Most Important Warren Buffett Stock for Investors: His Own
- 3 Key Stocks to Ride China’s Stimulus-Driven Growth
- The 3 Best Blue-Chip Stocks to Buy Now
- 3 Dividend Growth Stocks Set to Supercharge Your Portfolio
- How to Use the MarketBeat Stock Screener
- 3 Small-Cap Stocks on the Way to Bigger and Better Days
Receive News & Ratings for Corpay Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corpay and related companies with MarketBeat.com's FREE daily email newsletter.