Corpay, Inc. (NYSE:CPAY) Receives $398.07 Average PT from Brokerages

Corpay, Inc. (NYSE:CPAY) has been assigned a consensus rating of “Moderate Buy” from the sixteen brokerages that are currently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $398.07.

Several analysts have recently weighed in on the stock. Wells Fargo & Company reduced their price objective on shares of Corpay from $375.00 to $339.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. Oppenheimer assumed coverage on shares of Corpay in a research report on Monday, April 28th. They set a “market perform” rating for the company. Raymond James restated an “outperform” rating and set a $414.00 price objective (down previously from $417.00) on shares of Corpay in a research report on Wednesday, May 7th. UBS Group reduced their price objective on shares of Corpay from $400.00 to $365.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. Finally, Barclays reduced their price target on shares of Corpay from $440.00 to $400.00 and set an “overweight” rating for the company in a research report on Monday, April 14th.

Hedge Funds Weigh In On Corpay

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Corpay by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 7,872,786 shares of the company’s stock worth $2,745,398,000 after purchasing an additional 119,987 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Corpay by 20.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,840,818 shares of the company’s stock worth $1,976,651,000 after purchasing an additional 1,000,699 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Corpay by 11.1% in the 1st quarter. JPMorgan Chase & Co. now owns 4,728,635 shares of the company’s stock worth $1,648,970,000 after buying an additional 472,147 shares in the last quarter. Boston Partners boosted its position in shares of Corpay by 5.8% in the 1st quarter. Boston Partners now owns 2,163,940 shares of the company’s stock worth $751,371,000 after buying an additional 118,542 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its position in shares of Corpay by 1.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,949,913 shares of the company’s stock worth $659,890,000 after buying an additional 20,937 shares in the last quarter. 98.84% of the stock is owned by institutional investors and hedge funds.

Corpay Stock Down 7.7%

Shares of Corpay stock opened at $322.98 on Friday. Corpay has a 52-week low of $247.10 and a 52-week high of $400.81. The company has a 50 day moving average of $326.42 and a 200 day moving average of $346.20. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66. The company has a market capitalization of $22.77 billion, a P/E ratio of 23.10, a P/E/G ratio of 1.32 and a beta of 0.96.

Corpay (NYSE:CPAY) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.50 by $0.01. Corpay had a net margin of 25.25% and a return on equity of 41.46%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the firm earned $4.10 earnings per share. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. As a group, research analysts forecast that Corpay will post 19.76 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.