Bank of America Raises Corpay (NYSE:CPAY) Price Target to $375.00

Corpay (NYSE:CPAY) had its price target upped by Bank of America from $344.00 to $375.00 in a research report report published on Tuesday, Benzinga reports. Bank of America currently has a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Jefferies Financial Group lifted their price objective on shares of Corpay from $350.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. BMO Capital Markets lifted their price objective on shares of Corpay from $350.00 to $390.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Wolfe Research upgraded shares of Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. boosted their price target on shares of Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $310.00 price target on shares of Corpay in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $350.42.

Corpay Price Performance

NYSE CPAY opened at $353.51 on Tuesday. Corpay has a 12 month low of $220.39 and a 12 month high of $355.47. The stock has a market cap of $24.84 billion, a price-to-earnings ratio of 26.30, a PEG ratio of 1.33 and a beta of 1.22. The company’s 50 day moving average is $312.40 and its two-hundred day moving average is $292.47. 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 released its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.51 by $0.04. The firm had revenue of $975.70 million for the quarter, compared to analysts’ expectations of $973.84 million. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $3.85 earnings per share. As a group, research analysts anticipate that Corpay will post 17.83 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CPAY. Los Angeles Capital Management LLC purchased a new stake in shares of Corpay during the first quarter valued at $33,840,000. GAMMA Investing LLC purchased a new stake in shares of Corpay during the first quarter valued at $149,000. Pensionfund Sabic purchased a new stake in shares of Corpay during the first quarter valued at $1,327,000. Massmutual Trust Co. FSB ADV purchased a new stake in shares of Corpay during the first quarter valued at $61,000. Finally, Fulton Bank N.A. purchased a new stake in shares of Corpay during the first quarter valued at $441,000. 98.84% of the stock is owned by hedge funds and other 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.