Corpay (NYSE:CPAY) Hits New 52-Week High Following Analyst Upgrade

Corpay, Inc. (NYSE:CPAY) shares reached a new 52-week high during mid-day trading on Friday after Keefe, Bruyette & Woods raised their price target on the stock from $380.00 to $400.00. Keefe, Bruyette & Woods currently has an outperform rating on the stock. Corpay traded as high as $368.12 and last traded at $368.00, with a volume of 44974 shares traded. The stock had previously closed at $346.50.

A number of other equities analysts have also weighed in on the stock. Jefferies Financial Group boosted their price objective on shares of Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Morgan Stanley boosted their price objective on shares of Corpay from $275.00 to $325.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. BMO Capital Markets boosted their price objective on shares of Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Raymond James decreased their price objective on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Royal Bank of Canada restated 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, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Corpay has a consensus rating of “Moderate Buy” and a consensus price target of $356.79.

Institutional Investors Weigh In On Corpay

A number of hedge funds have recently modified their holdings of the business. Cypress Capital Group bought a new stake in shares of Corpay during the 3rd quarter valued at $555,000. King Luther Capital Management Corp grew its position in shares of Corpay by 73.9% during the 3rd quarter. King Luther Capital Management Corp now owns 12,729 shares of the company’s stock valued at $3,981,000 after acquiring an additional 5,408 shares during the period. Retireful LLC bought a new stake in shares of Corpay during the 3rd quarter valued at $702,000. First Horizon Advisors Inc. grew its position in shares of Corpay by 4.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,825 shares of the company’s stock valued at $571,000 after acquiring an additional 81 shares during the period. Finally, Factorial Partners LLC grew its position in shares of Corpay by 5.9% during the 3rd quarter. Factorial Partners LLC now owns 16,100 shares of the company’s stock valued at $5,035,000 after acquiring an additional 900 shares during the period. Institutional investors own 98.84% of the company’s stock.

Corpay Price Performance

The company has a market cap of $25.41 billion, a P/E ratio of 26.60, a P/E/G ratio of 1.38 and a beta of 1.21. 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 firm’s fifty day moving average is $325.93 and its two-hundred day moving average is $296.50.

Corpay (NYSE:CPAY) last issued its earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share for the quarter, topping the consensus estimate of $4.51 by $0.04. The company had revenue of $975.70 million during the quarter, compared to the consensus estimate of $973.84 million. Corpay had a net margin of 26.41% and a return on equity of 38.93%. Corpay’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.85 EPS. As a group, analysts anticipate that Corpay, Inc. will post 17.96 earnings per share for the current fiscal year.

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.