Corpay (NYSE:CPAY) PT Raised to $331.00 at Bank of America

Corpay (NYSE:CPAY) had its target price upped by Bank of America from $326.00 to $331.00 in a report published on Friday, Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also weighed in on the stock. Jefferies Financial Group upped their price target on shares of Corpay from $340.00 to $355.00 and gave the stock a buy rating in a research note on Friday, April 12th. Citigroup boosted their target price on shares of Corpay from $325.00 to $355.00 and gave the stock a buy rating in a report on Wednesday, April 17th. Wells Fargo & Company began coverage on shares of Corpay in a report on Wednesday, June 5th. They issued an equal weight rating and a $285.00 target price on the stock. Robert W. Baird boosted their target price on shares of Corpay from $355.00 to $376.00 and gave the stock an outperform rating in a report on Thursday, April 4th. Finally, Royal Bank of Canada reiterated a sector perform rating and issued a $310.00 target price on shares of Corpay in a report on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $334.11.

Corpay Stock Performance

CPAY opened at $269.67 on Friday. The business has a 50-day moving average of $278.27. The company has a market cap of $18.95 billion, a P/E ratio of 20.06, a P/E/G ratio of 1.04 and a beta of 1.21. Corpay has a 1-year low of $220.39 and a 1-year high of $319.94. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.07 and a quick ratio of 1.07.

Corpay (NYSE:CPAY) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $3.84 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 business had revenue of $935.25 million during the quarter, compared to analyst estimates of $936.25 million. As a group, sell-side analysts expect that Corpay will post 17.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Corpay

A number of hedge funds have recently made changes to their positions in CPAY. Global Retirement Partners LLC bought a new position in shares of Corpay in the 1st quarter valued at about $25,000. Headlands Technologies LLC bought a new position in shares of Corpay in the 1st quarter valued at about $31,000. Sunbelt Securities Inc. bought a new position in shares of Corpay in the 1st quarter valued at about $34,000. RFP Financial Group LLC bought a new position in shares of Corpay in the 1st quarter valued at about $35,000. Finally, Hollencrest Capital Management bought a new position in shares of Corpay in the 1st quarter valued at about $46,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

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.