Corpay (NYSE:CPAY) Given New $331.00 Price Target at Bank of America

Corpay (NYSE:CPAY) had its price objective upped by Bank of America from $326.00 to $331.00 in a research note published on Friday, Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also weighed in on CPAY. Wolfe Research lowered shares of Corpay from a peer perform rating to an underperform rating and set a $295.00 price objective for the company. in a research note on Friday, May 17th. Jefferies Financial Group boosted their price objective on shares of Corpay from $340.00 to $355.00 and gave the stock a buy rating in a report on Friday, April 12th. Barclays cut their target price on Corpay from $355.00 to $350.00 and set an overweight rating on the stock in a research note on Monday, May 13th. Citigroup boosted their price target on Corpay from $325.00 to $355.00 and gave the stock a buy rating in a research note on Wednesday, April 17th. Finally, Robert W. Baird increased their price objective on Corpay from $355.00 to $376.00 and gave the company an outperform rating in a research report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $334.11.

Corpay Stock Performance

CPAY stock opened at $267.15 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.48. The firm’s 50 day simple moving average is $278.80. Corpay has a 52-week low of $220.39 and a 52-week high of $319.94. The stock has a market capitalization of $18.77 billion, a price-to-earnings ratio of 19.88, a price-to-earnings-growth ratio of 1.00 and a beta of 1.21.

Corpay (NYSE:CPAY) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $3.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Corpay had a return on equity of 36.97% and a net margin of 26.29%. The business had revenue of $935.25 million during the quarter, compared to analysts’ expectations of $936.25 million. As a group, sell-side analysts forecast 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 bought and sold shares of the company. Amalgamated Bank bought a new position in shares of Corpay in the 1st quarter worth approximately $4,831,000. Beese Fulmer Investment Management Inc. bought a new position in Corpay in the first quarter worth approximately $1,398,000. Pensionfund Sabic purchased a new position in shares of Corpay during the 1st quarter worth $1,327,000. Los Angeles Capital Management LLC bought a new stake in shares of Corpay during the 1st quarter valued at $33,840,000. Finally, V Square Quantitative Management LLC purchased a new stake in shares of Corpay in the 1st quarter worth $222,000. 98.84% of the stock is 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.