Corpay, Inc. (NYSE:CPAY) Receives Average Recommendation of “Moderate Buy” from Brokerages

Corpay, Inc. (NYSE:CPAY) has been assigned an average recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $333.91.

A number of research analysts recently weighed in on CPAY shares. JPMorgan Chase & Co. decreased their price target on shares of Corpay from $330.00 to $326.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Robert W. Baird raised their target price on Corpay from $355.00 to $376.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Wells Fargo & Company began coverage on Corpay in a research report on Wednesday, June 5th. They set an “equal weight” rating and a $285.00 price target for the company. Royal Bank of Canada restated a “sector perform” rating and issued a $310.00 price objective on shares of Corpay in a report on Friday, June 21st. Finally, Evercore ISI dropped their target price on shares of Corpay from $350.00 to $345.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. purchased a new position in Corpay during the first quarter worth about $2,431,089,000. JPMorgan Chase & Co. acquired a new stake in Corpay in the 1st quarter valued at approximately $1,429,445,000. Price T Rowe Associates Inc. MD purchased a new stake in Corpay in the first quarter valued at approximately $1,355,377,000. Boston Partners acquired a new position in Corpay during the first quarter worth $553,667,000. Finally, Sustainable Growth Advisers LP purchased a new position in shares of Corpay during the first quarter worth $553,279,000. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Corpay Price Performance

Corpay stock opened at $293.59 on Tuesday. Corpay has a 12 month low of $220.39 and a 12 month high of $319.94. The stock has a market capitalization of $20.63 billion, a PE ratio of 21.84, a PEG ratio of 1.12 and a beta of 1.20. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a 50 day simple moving average of $270.73.

Corpay (NYSE:CPAY) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $3.84 earnings per share for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. The company had revenue of $935.25 million during the quarter, compared to analysts’ expectations of $936.25 million. Corpay had a net margin of 26.29% and a return on equity of 36.97%. On average, equities research analysts anticipate that Corpay will post 17.82 EPS 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.