Corpay (NYSE:CPAY) PT Raised to $320.00

Corpay (NYSE:CPAY) had its price target lifted by equities research analysts at Wells Fargo & Company from $285.00 to $320.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential downside of 9.48% from the stock’s current price.

CPAY has been the topic of several other reports. Wolfe Research upgraded Corpay from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, September 3rd. BMO Capital Markets boosted their price objective on shares of Corpay from $350.00 to $390.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $310.00 price objective on shares of Corpay in a report on Thursday, August 8th. Barclays upped their price objective on Corpay from $330.00 to $385.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. upped their price target on shares of Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Three research 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.com, the stock has an average rating of “Moderate Buy” and an average price target of $353.33.

Corpay Stock Performance

NYSE CPAY remained flat at $353.51 during trading hours on Monday. 69,293 shares of the company’s stock traded hands, compared to its average volume of 462,117. The firm has a fifty day moving average of $312.40 and a 200 day moving average of $292.18. The stock has a market cap of $24.84 billion, a P/E ratio of 26.30, a PEG ratio of 1.33 and a beta of 1.22. Corpay has a one year low of $220.39 and a one year high of $355.47. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74.

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 analysts’ consensus estimates of $4.51 by $0.04. Corpay had a return on equity of 38.93% and a net margin of 26.41%. The firm had revenue of $975.70 million during the quarter, compared to analysts’ expectations of $973.84 million. During the same period in the prior year, the firm earned $3.85 EPS. The business’s revenue was up 2.9% on a year-over-year basis. Sell-side analysts expect that Corpay will post 17.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Corpay

A number of large investors have recently bought and sold shares of the stock. Albion Financial Group UT acquired a new stake in shares of Corpay during the third quarter valued at $27,000. Headlands Technologies LLC purchased a new stake in shares of Corpay during the first quarter worth about $31,000. LGT Financial Advisors LLC acquired a new position in shares of Corpay in the second quarter valued at approximately $33,000. Sunbelt Securities Inc. purchased a new stake in Corpay in the 1st quarter worth approximately $34,000. Finally, RFP Financial Group LLC acquired a new position in Corpay in the 1st quarter valued at $35,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

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.