Corpay (NYSE:CPAY) Price Target Lowered to $345.00 at Evercore ISI

Corpay (NYSE:CPAY) had its target price lowered by Evercore ISI from $350.00 to $345.00 in a report published on Tuesday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

CPAY has been the subject of several other research reports. Royal Bank of Canada reiterated a sector perform rating and issued a $310.00 price target on shares of Corpay in a research report on Friday, June 21st. Citigroup raised their price objective on shares of Corpay from $325.00 to $355.00 and gave the stock a buy rating in a research note on Wednesday, April 17th. Wells Fargo & Company began coverage on shares of Corpay in a research note on Wednesday, June 5th. They issued an equal weight rating and a $285.00 price objective for the company. Jefferies Financial Group raised their price objective on shares of Corpay from $340.00 to $355.00 and gave the stock a buy rating in a research note on Friday, April 12th. Finally, BMO Capital Markets decreased their price objective on shares of Corpay from $360.00 to $350.00 and set an outperform rating for the company in a research note on Thursday, May 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Corpay presently has a consensus rating of Moderate Buy and a consensus target price of $335.20.

Corpay Price Performance

NYSE CPAY opened at $270.32 on Tuesday. Corpay has a 1-year low of $220.39 and a 1-year high of $319.94. The company’s fifty day moving average price is $277.70. The company has a market cap of $19.00 billion, a PE ratio of 20.11, a price-to-earnings-growth ratio of 1.06 and a beta of 1.21. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.07 and a quick ratio of 1.07.

Corpay (NYSE:CPAY) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $3.84 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $936.25 million. Equities research analysts anticipate that Corpay will post 17.83 EPS for the current year.

Institutional Investors Weigh In On Corpay

A number of large investors have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale purchased a new stake in shares of Corpay during the first quarter valued at $10,171,000. Boston Partners purchased a new stake in shares of Corpay during the first quarter valued at $553,667,000. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Corpay during the first quarter valued at $22,949,000. Cetera Investment Advisers purchased a new stake in shares of Corpay during the first quarter valued at $1,628,000. Finally, PGGM Investments purchased a new stake in shares of Corpay during the first quarter valued at $7,230,000. 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.