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

Shares of Corpay, Inc. (NYSE:CPAY) have been given a consensus rating of “Moderate Buy” by the fourteen brokerages that are currently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $353.46.

A number of equities analysts recently issued reports on CPAY shares. JPMorgan Chase & Co. upped their price target on shares of Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. William Blair raised shares of Corpay to a “strong-buy” rating in a research report on Thursday, August 8th. Bank of America upped their price objective on Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Jefferies Financial Group increased their target price on Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Barclays boosted their price target on Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th.

Corpay Price Performance

CPAY stock opened at $348.97 on Thursday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $24.23 billion, a price-to-earnings ratio of 25.36, a PEG ratio of 1.30 and a beta of 1.21. The firm has a 50 day moving average price of $323.31 and a 200-day moving average price of $295.32. Corpay has a 52-week low of $221.37 and a 52-week high of $355.47.

Corpay (NYSE:CPAY) last released its earnings results on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, topping the consensus estimate of $4.51 by $0.04. Corpay had a return on equity of 38.93% and a net margin of 26.41%. The business had revenue of $975.70 million for the quarter, compared to the consensus estimate of $973.84 million. During the same period in the previous year, the company posted $3.85 earnings per share. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. Equities research analysts forecast that Corpay will post 17.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Albion Financial Group UT purchased a new position in Corpay during the third quarter valued at approximately $27,000. Headlands Technologies LLC purchased a new position in shares of Corpay during the 1st quarter valued at $31,000. LGT Financial Advisors LLC bought a new position in Corpay in the 2nd quarter worth $33,000. RFP Financial Group LLC purchased a new stake in Corpay in the 1st quarter worth $35,000. Finally, Blue Trust Inc. increased its stake in Corpay by 246.2% in the 2nd quarter. Blue Trust Inc. now owns 135 shares of the company’s stock worth $36,000 after buying an additional 96 shares in the last quarter. 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.