Morgan Stanley Raises Corpay (NYSE:CPAY) Price Target to $325.00

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

Other analysts also recently issued reports about the company. Barclays raised their target price on Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a research report on Monday. JPMorgan Chase & Co. lifted their price objective on Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. William Blair upgraded shares of Corpay to a “strong-buy” rating in a research report on Thursday, August 8th. Wolfe Research raised shares of Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, September 3rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $310.00 price objective on shares of Corpay in a report on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $353.46.

Corpay Trading Down 0.7 %

Shares of Corpay stock opened at $329.72 on Tuesday. The firm has a market cap of $23.17 billion, a PE ratio of 24.53, a P/E/G ratio of 1.39 and a beta of 1.22. Corpay has a 1 year low of $221.37 and a 1 year high of $355.47. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a fifty day moving average price of $321.55 and a 200-day moving average price of $294.63.

Corpay (NYSE:CPAY) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, topping the consensus estimate of $4.51 by $0.04. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The business had revenue of $975.70 million for the quarter, compared to analyst estimates of $973.84 million. During the same quarter in the previous year, the firm posted $3.85 earnings per share. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. Equities research analysts anticipate that Corpay will post 17.83 EPS for the current year.

Institutional Trading of Corpay

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