Corpay (NYSE:CPAY) Stock Rating Upgraded by Wolfe Research

Wolfe Research upgraded shares of Corpay (NYSE:CPAY) from an underperform rating to a peer perform rating in a report published on Tuesday morning, Marketbeat reports.

A number of other research analysts have also issued reports on CPAY. Bank of America reduced their target price on shares of Corpay from $331.00 to $310.00 and set a buy rating on the stock in a report on Thursday, August 8th. Royal Bank of Canada reiterated a sector perform rating and issued a $310.00 price target on shares of Corpay in a report on Thursday, August 8th. Jefferies Financial Group upped their price objective on Corpay from $295.00 to $350.00 and gave the stock a buy rating in a research note on Thursday, July 18th. Raymond James lowered their price objective on Corpay from $330.00 to $311.00 and set an outperform rating for the company in a research note on Thursday, August 8th. Finally, BMO Capital Markets reduced their price target on Corpay from $360.00 to $350.00 and set an outperform rating for the company in a research report on Thursday, May 9th. Three 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. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $332.50.

Corpay Trading Down 0.6 %

Shares of NYSE:CPAY opened at $303.02 on Tuesday. Corpay has a 12-month low of $220.39 and a 12-month high of $319.94. The firm has a market cap of $21.29 billion, a P/E ratio of 22.55, a price-to-earnings-growth ratio of 1.26 and a beta of 1.22. The business’s 50-day simple moving average is $288.91. 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 (EPS) 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 the consensus estimate of $973.84 million. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.85 earnings per share. As a group, equities research analysts predict that Corpay will post 17.81 earnings per share for the current fiscal year.

Institutional Trading of Corpay

A number of hedge funds and other institutional investors have recently bought and sold shares of CPAY. Global Retirement Partners LLC purchased a new position in shares of Corpay in the 1st quarter worth about $25,000. Headlands Technologies LLC purchased a new stake in Corpay in the first quarter worth approximately $31,000. LGT Financial Advisors LLC purchased a new stake in shares of Corpay during the second quarter valued at approximately $33,000. Sunbelt Securities Inc. bought a new position in Corpay in the first quarter worth $34,000. Finally, RFP Financial Group LLC bought a new position in shares of Corpay during the first quarter valued at $35,000. Institutional investors own 98.84% of the company’s stock.

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.