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

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

A number of other equities research analysts have also recently issued reports on CPAY. Citigroup raised their target price on Corpay from $325.00 to $355.00 and gave the company a buy rating in a research note on Wednesday, April 17th. Wolfe Research lowered shares of Corpay from a peer perform rating to an underperform rating and set a $295.00 target price for the company. in a research note on Friday, May 17th. Wells Fargo & Company started coverage on shares of Corpay in a research note on Wednesday, June 5th. They issued an equal weight rating and a $285.00 price target on the stock. Jefferies Financial Group boosted their price objective on Corpay from $340.00 to $355.00 and gave the stock a buy rating in a research report on Friday, April 12th. Finally, Royal Bank of Canada restated a sector perform rating and issued a $310.00 target price on shares of Corpay in a research report on Friday, June 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $335.20.

Corpay Stock Down 1.1 %

Shares of NYSE:CPAY opened at $266.41 on Tuesday. The company has a market cap of $18.72 billion, a P/E ratio of 19.82, a PEG ratio of 1.04 and a beta of 1.21. Corpay has a fifty-two week low of $220.39 and a fifty-two week high of $319.94. The firm’s 50-day simple moving average is $276.65. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.48.

Corpay (NYSE:CPAY) last posted its earnings results on Wednesday, May 8th. The company reported $3.84 EPS for the quarter, beating the consensus estimate of $3.80 by $0.04. The company had revenue of $935.25 million during the quarter, compared to analyst estimates of $936.25 million. Corpay had a return on equity of 36.97% and a net margin of 26.29%. As a group, research analysts forecast that Corpay will post 17.83 EPS for the current fiscal year.

Institutional Trading of Corpay

Institutional investors have recently modified their holdings of the company. Agate Pass Investment Management LLC bought a new stake in Corpay in the first quarter worth about $3,937,000. Amalgamated Bank bought a new stake in shares of Corpay in the 1st quarter worth approximately $4,831,000. Charles Schwab Trust Co acquired a new stake in Corpay during the first quarter valued at approximately $1,234,000. Beese Fulmer Investment Management Inc. bought a new stake in Corpay during the first quarter worth approximately $1,398,000. Finally, Czech National Bank acquired a new position in Corpay in the first quarter worth approximately $3,920,000. Institutional investors and hedge funds 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.