Corpay (NYSE:CPAY) Price Target Increased to $327.00 by Analysts at JPMorgan Chase & Co.

Corpay (NYSE:CPAY) had its target price hoisted by JPMorgan Chase & Co. from $326.00 to $327.00 in a report released on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research analysts also recently weighed in on CPAY. Barclays cut their price target on Corpay from $355.00 to $350.00 and set an overweight rating on the stock in a research note on Monday, May 13th. Wolfe Research cut shares of Corpay from a peer perform rating to an underperform rating and set a $295.00 price objective for the company. in a research report on Friday, May 17th. Royal Bank of Canada restated a sector perform rating and issued a $310.00 price objective on shares of Corpay in a research report on Friday, June 21st. Wells Fargo & Company assumed coverage on shares of Corpay in a research report on Wednesday, June 5th. They issued an equal weight rating and a $285.00 price objective for the company. Finally, Evercore ISI lowered their price objective 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. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $330.33.

Corpay Price Performance

Shares of CPAY stock traded down $1.98 during trading hours on Thursday, reaching $284.35. The company had a trading volume of 474,184 shares, compared to its average volume of 468,703. The firm’s 50 day simple moving average is $272.68. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market capitalization of $19.98 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 1.09 and a beta of 1.20. Corpay has a 1-year low of $220.39 and a 1-year high of $319.94.

Corpay (NYSE:CPAY) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates of $4.51 by $0.04. The company had revenue of $975.70 million for the quarter, compared to the consensus estimate of $973.84 million. Corpay had a return on equity of 36.97% and a net margin of 26.29%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.85 EPS. As a group, sell-side analysts forecast that Corpay will post 17.82 EPS for the current fiscal year.

Hedge Funds Weigh In On Corpay

A number of large investors have recently modified their holdings of CPAY. Global Retirement Partners LLC acquired a new position in shares of Corpay during the 1st quarter worth about $25,000. Headlands Technologies LLC acquired a new position in shares of Corpay during the 1st quarter worth about $31,000. LGT Financial Advisors LLC acquired a new position in shares of Corpay during the 2nd quarter worth about $33,000. Sunbelt Securities Inc. acquired a new position in shares of Corpay during the 1st quarter worth about $34,000. Finally, RFP Financial Group LLC acquired a new position in shares of Corpay during the 1st quarter worth about $35,000. 98.84% of the stock is currently owned by institutional investors and hedge funds.

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.