Corpay, Inc. (NYSE:CPAY) Receives $333.91 Average Target Price from Brokerages

Shares of Corpay, Inc. (NYSE:CPAY) have earned an average rating of “Moderate Buy” from the eleven research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $333.91.

Several analysts have issued reports on the stock. Robert W. Baird increased their price objective on shares of Corpay from $355.00 to $376.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. BMO Capital Markets lowered their price objective on shares of Corpay from $360.00 to $350.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. JPMorgan Chase & Co. lowered their price objective on shares of Corpay from $330.00 to $326.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Evercore ISI decreased their price target on shares of Corpay from $350.00 to $345.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $310.00 price target on shares of Corpay in a research report on Friday, June 21st.

Corpay Stock Performance

CPAY opened at $292.17 on Tuesday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.07 and a current ratio of 1.07. Corpay has a 1 year low of $220.39 and a 1 year high of $319.94. The business’s 50 day simple moving average is $270.44. The firm has a market cap of $20.53 billion, a P/E ratio of 21.74, a PEG ratio of 1.10 and a beta of 1.20.

Corpay (NYSE:CPAY) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $3.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.80 by $0.04. Corpay had a net margin of 26.29% and a return on equity of 36.97%. The company had revenue of $935.25 million during the quarter, compared to the consensus estimate of $936.25 million. On average, sell-side analysts predict that Corpay will post 17.82 earnings per share for the current year.

Hedge Funds Weigh In On Corpay

Several large investors have recently added to or reduced their stakes in CPAY. Global Retirement Partners LLC bought a new position in Corpay during the first quarter worth $25,000. Headlands Technologies LLC bought a new stake in Corpay in the first quarter valued at $31,000. Sunbelt Securities Inc. bought a new stake in Corpay in the first quarter valued at $34,000. RFP Financial Group LLC bought a new stake in Corpay in the first quarter valued at $35,000. Finally, Blue Trust Inc. lifted its stake in Corpay by 246.2% in the second quarter. Blue Trust Inc. now owns 135 shares of the company’s stock valued at $36,000 after buying an additional 96 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors.

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.