Corpay (NYSE:CPAY) PT Raised to $385.00 at Barclays

Corpay (NYSE:CPAY) had its price target raised by Barclays from $330.00 to $385.00 in a research note released on Thursday, Benzinga reports. They currently have an overweight rating on the stock.

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. boosted their price objective on shares of Corpay from $327.00 to $353.00 and gave the company an overweight rating in a research note on Tuesday, August 20th. Evercore ISI cut their price objective on Corpay from $350.00 to $345.00 and set an outperform rating on the stock in a report on Tuesday, June 25th. Raymond James decreased their target price on Corpay from $330.00 to $311.00 and set an outperform rating for the company in a report on Thursday, August 8th. Bank of America decreased their price objective on shares of Corpay from $331.00 to $310.00 and set a buy rating for the company in a research note on Thursday, August 8th. Finally, Royal Bank of Canada reissued a sector perform rating and issued a $310.00 target price on shares of Corpay in a research note on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $340.83.

Corpay Stock Performance

Corpay stock opened at $339.32 on Thursday. The stock has a fifty day moving average price of $305.35 and a 200 day moving average price of $291.01. Corpay has a 52 week low of $220.39 and a 52 week high of $342.95. The firm has a market capitalization of $23.56 billion, a P/E ratio of 24.66, a PEG ratio of 1.33 and a beta of 1.22. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74.

Corpay (NYSE:CPAY) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, beating analysts’ consensus estimates of $4.51 by $0.04. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The company had revenue of $975.70 million during the quarter, compared to the consensus estimate of $973.84 million. During the same quarter in the prior year, the company posted $3.85 EPS. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. Equities research analysts anticipate that Corpay will post 17.83 earnings per share for the current year.

Institutional Investors Weigh In On Corpay

A number of hedge funds have recently bought and sold shares of CPAY. Vanguard Group Inc. purchased a new position in shares of Corpay during the 1st quarter valued at approximately $2,431,089,000. JPMorgan Chase & Co. acquired a new stake in Corpay in the first quarter valued at $1,429,445,000. Price T Rowe Associates Inc. MD acquired a new stake in Corpay in the first quarter valued at $1,355,377,000. Boston Partners bought a new position in Corpay during the 1st quarter valued at $553,667,000. Finally, Sustainable Growth Advisers LP acquired a new position in Corpay during the 1st quarter worth $553,279,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

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.