Brokerages Set Corpay, Inc. (NYSE:CPAY) Price Target at $401.86

by · The Markets Daily

Corpay, Inc. (NYSE:CPAY – Get Free Report) has received a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $401.86.

Several brokerages recently issued reports on CPAY. Oppenheimer began coverage on shares of Corpay in a report on Monday, April 28th. They set a “market perform” rating on the stock. Raymond James Financial reissued an “outperform” rating and set a $414.00 price objective (down from $417.00) on shares of Corpay in a report on Wednesday, May 7th. UBS Group cut their price objective on shares of Corpay from $400.00 to $365.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. Barclays cut their price objective on shares of Corpay from $440.00 to $400.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Finally, Wells Fargo & Company cut their price objective on shares of Corpay from $375.00 to $339.00 and set an “equal weight” rating on the stock in a report on Thursday, April 24th.

View Our Latest Report on CPAY

Corpay Stock Performance

Shares of NYSE:CPAY opened at $324.33 on Tuesday. The firm has a market cap of $22.86 billion, a PE ratio of 22.74, a price-to-earnings-growth ratio of 1.36 and a beta of 0.95. The firm’s 50 day simple moving average is $332.78 and its 200-day simple moving average is $342.19. Corpay has a one year low of $265.06 and a one year high of $400.81. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.10 and a current ratio of 1.10.

Corpay (NYSE:CPAY – Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $4.51 EPS for the quarter, topping analysts’ consensus estimates of $4.50 by $0.01. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.02 billion. Corpay had a net margin of 25.15% and a return on equity of 41.61%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the company posted $4.10 earnings per share. As a group, equities analysts predict that Corpay will post 19.76 EPS for the current year.

Institutional Investors Weigh In On Corpay

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Corpay by 1.5% in the first quarter. Vanguard Group Inc. now owns 7,872,786 shares of the company’s stock valued at $2,745,398,000 after buying an additional 119,987 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Corpay by 20.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,840,818 shares of the company’s stock valued at $1,976,651,000 after buying an additional 1,000,699 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Corpay by 11.1% during the first quarter. JPMorgan Chase & Co. now owns 4,728,635 shares of the company’s stock worth $1,648,970,000 after purchasing an additional 472,147 shares in the last quarter. Boston Partners increased its stake in shares of Corpay by 5.8% during the first quarter. Boston Partners now owns 2,163,940 shares of the company’s stock worth $751,371,000 after purchasing an additional 118,542 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its stake in shares of Corpay by 1.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,949,913 shares of the company’s stock worth $659,890,000 after purchasing an additional 20,937 shares in the last quarter. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Corpay Company Profile

(Get Free Report

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.

Featured Articles