Corpay (NYSE:CPAY) Price Target Increased to $375.00 by Analysts at Bank of America

Corpay (NYSE:CPAY) had its price objective hoisted by Bank of America from $344.00 to $375.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price target suggests a potential upside of 9.32% from the company’s current price.

Several other equities analysts have also recently commented on the stock. BMO Capital Markets boosted their target price on shares of Corpay from $350.00 to $390.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Raymond James lowered their price target on Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. lifted their target price on Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Jefferies Financial Group lifted their price target on shares of Corpay from $350.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Barclays increased their price objective on shares of Corpay from $330.00 to $385.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $346.25.

Corpay Stock Performance

CPAY traded up $4.16 during trading on Tuesday, hitting $343.03. The stock had a trading volume of 209,697 shares, compared to its average volume of 462,230. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market cap of $24.10 billion, a price-to-earnings ratio of 25.50, a P/E/G ratio of 1.33 and a beta of 1.22. The company has a 50 day moving average price of $306.81 and a 200-day moving average price of $291.12. Corpay has a one year low of $220.39 and a one year high of $343.86.

Corpay (NYSE:CPAY) last posted its quarterly earnings data 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. The firm 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%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.85 EPS. As a group, research analysts predict that Corpay will post 17.83 EPS for the current year.

Institutional Trading of Corpay

Several institutional investors have recently added to or reduced their stakes in the stock. Chevy Chase Trust Holdings LLC bought a new stake in shares of Corpay in the 1st quarter valued at $12,335,000. Empirical Finance LLC bought a new position in shares of Corpay in the 1st quarter worth about $829,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Corpay in the 1st quarter valued at about $1,013,000. Agate Pass Investment Management LLC bought a new stake in Corpay in the first quarter worth approximately $3,937,000. Finally, EP Wealth Advisors LLC acquired a new position in Corpay in the first quarter valued at approximately $949,000. 98.84% of the stock is currently owned by institutional investors.

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.