Brokerages Set Corpay, Inc. (NYSE:CPAY) Price Target at $332.50

Corpay, Inc. (NYSE:CPAY) has been given an average rating of “Moderate Buy” by the thirteen analysts that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation 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 analysts recently weighed in on the company. Wolfe Research upgraded Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, September 3rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $310.00 price objective on shares of Corpay in a research note on Thursday, August 8th. Bank of America cut their price target on Corpay from $331.00 to $310.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Company initiated coverage on Corpay in a research note on Wednesday, June 5th. They issued an “equal weight” rating and a $285.00 price target on the stock. Finally, Raymond James dropped their price objective on Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th.

Corpay Price Performance

Shares of Corpay stock opened at $306.88 on Wednesday. The firm’s 50 day moving average price is $294.31. Corpay has a 12 month low of $220.39 and a 12 month high of $319.94. The firm has a market capitalization of $21.31 billion, a PE ratio of 22.83, a P/E/G ratio of 1.22 and a beta of 1.22. 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 posted its quarterly earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.51 by $0.04. The business had revenue of $975.70 million during the quarter, compared to analyst estimates of $973.84 million. Corpay had a return on equity of 38.93% and a net margin of 26.41%. The business’s revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business earned $3.85 earnings per share. As a group, research analysts anticipate that Corpay will post 17.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. bought a new position in shares of Corpay in the first quarter valued at approximately $2,431,089,000. JPMorgan Chase & Co. bought a new stake in Corpay during the first quarter worth approximately $1,429,445,000. Price T Rowe Associates Inc. MD purchased a new position in Corpay during the 1st quarter worth approximately $1,355,377,000. Boston Partners purchased a new stake in Corpay in the 1st quarter worth about $553,667,000. Finally, Sustainable Growth Advisers LP purchased a new stake in shares of Corpay in the first quarter worth approximately $553,279,000. 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.