Corpay (NYSE:CPAY) Given New $375.00 Price Target at Bank of America

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

Other equities research analysts also recently issued reports about the company. William Blair upgraded Corpay to a strong-buy rating in a report on Thursday, August 8th. BMO Capital Markets boosted their price objective on shares of Corpay from $350.00 to $390.00 and gave the company an outperform rating in a report on Thursday, October 3rd. Raymond James lowered their price objective on shares of Corpay from $330.00 to $311.00 and set an outperform rating on the stock in a research report on Thursday, August 8th. Barclays lifted their target price on shares of Corpay from $330.00 to $385.00 and gave the stock an overweight rating in a research report on Thursday, October 10th. Finally, Evercore ISI lowered their price target on Corpay from $350.00 to $345.00 and set an outperform rating on the stock in a report on Tuesday, June 25th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Corpay currently has a consensus rating of Moderate Buy and an average price target of $346.25.

Corpay Trading Up 1.1 %

Shares of NYSE CPAY opened at $342.54 on Tuesday. The firm’s 50 day moving average price is $308.24 and its 200-day moving average price is $291.36. Corpay has a 52-week low of $220.39 and a 52-week high of $343.86. 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 company has a market cap of $24.07 billion, a PE ratio of 25.49, a P/E/G ratio of 1.33 and a beta of 1.22.

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. 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 analysts’ expectations of $973.84 million. During the same period in the prior year, the firm posted $3.85 EPS. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. On average, equities research analysts expect that Corpay will post 17.83 EPS for the current fiscal year.

Institutional Trading of Corpay

Several hedge funds have recently bought and sold shares of CPAY. Vanguard Group Inc. bought a new position in shares of Corpay during the 1st quarter valued at approximately $2,431,089,000. JPMorgan Chase & Co. purchased a new position in Corpay during the first quarter valued at approximately $1,429,445,000. Price T Rowe Associates Inc. MD purchased a new position in Corpay during the first quarter valued at approximately $1,355,377,000. Boston Partners bought a new position in shares of Corpay in the first quarter worth approximately $553,667,000. Finally, Sustainable Growth Advisers LP purchased a new stake in shares of Corpay in the first quarter worth $553,279,000. Institutional investors 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.