Corpay (NYSE:CPAY) PT Raised to $375.00

Corpay (NYSE:CPAY) had its price objective upped by investment analysts at Bank of America from $344.00 to $375.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price target suggests a potential upside of 8.69% from the company’s current price.

Several other analysts have also recently issued reports on CPAY. Jefferies Financial Group upped their target price on shares of Corpay from $350.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. BMO Capital Markets upped their target price on shares of Corpay from $350.00 to $390.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Royal Bank of Canada restated a “sector perform” rating and set a $310.00 target price on shares of Corpay in a research report on Thursday, August 8th. Barclays upped their target price on shares of Corpay from $330.00 to $385.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. upped their target price on shares of Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $350.42.

Corpay Stock Performance

Shares of NYSE CPAY opened at $345.01 on Tuesday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market cap of $24.24 billion, a P/E ratio of 25.67, a P/E/G ratio of 1.33 and a beta of 1.22. The firm’s fifty day moving average is $309.74 and its two-hundred day moving average is $291.73. Corpay has a 52-week low of $220.39 and a 52-week high of $348.28.

Corpay (NYSE:CPAY) last announced its earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.51 by $0.04. The firm had revenue of $975.70 million for the quarter, compared to analysts’ expectations of $973.84 million. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The business’s revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the company earned $3.85 EPS. As a group, analysts anticipate that Corpay will post 17.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Corpay

Hedge funds have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC bought a new position in Corpay in the 1st quarter worth about $33,840,000. GAMMA Investing LLC bought a new position in Corpay in the 1st quarter worth about $149,000. Pensionfund Sabic bought a new position in Corpay in the 1st quarter worth about $1,327,000. Massmutual Trust Co. FSB ADV bought a new position in Corpay in the 1st quarter worth about $61,000. Finally, Fulton Bank N.A. bought a new position in Corpay in the 1st quarter worth about $441,000. 98.84% of the stock is currently owned by 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.