Corpay (NYSE:CPAY) Upgraded to “Peer Perform” by Wolfe Research

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

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. lifted their target price on shares of Corpay from $327.00 to $353.00 and gave the company an overweight rating in a report on Tuesday, August 20th. William Blair upgraded shares of Corpay to a strong-buy rating in a research note on Thursday, August 8th. Raymond James dropped their target price on shares of Corpay from $330.00 to $311.00 and set an outperform rating on the stock in a research note on Thursday, August 8th. Bank of America decreased their price objective on shares of Corpay from $331.00 to $310.00 and set a buy rating for the company in a report on Thursday, August 8th. Finally, Wells Fargo & Company initiated coverage on Corpay in a research note on Wednesday, June 5th. They set an equal weight rating and a $285.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $332.50.

Corpay Price Performance

NYSE CPAY opened at $314.37 on Tuesday. Corpay has a 1 year low of $220.39 and a 1 year high of $319.94. The company has a market capitalization of $21.83 billion, a PE ratio of 23.39, a PEG ratio of 1.26 and a beta of 1.20. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74. The business has a 50-day simple moving average of $286.64.

Corpay (NYSE:CPAY) last announced its earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates of $4.51 by $0.04. The firm had revenue of $975.70 million for the quarter, compared to analyst estimates of $973.84 million. Corpay had a net margin of 26.41% and a return on equity of 38.93%. During the same quarter in the previous year, the firm posted $3.85 EPS. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Corpay will post 17.81 earnings per share for the current year.

Hedge Funds Weigh In On Corpay

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. bought a new position in Corpay during the first quarter valued at approximately $2,431,089,000. JPMorgan Chase & Co. bought a new stake in shares of Corpay in the 1st quarter worth about $1,429,445,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Corpay during the 1st quarter valued at about $1,355,377,000. Boston Partners bought a new position in shares of Corpay in the 1st quarter valued at about $553,667,000. Finally, Sustainable Growth Advisers LP purchased a new position in Corpay in the first quarter worth about $553,279,000. Institutional investors own 98.84% of the company’s stock.

About Corpay

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.