Barclays Raises Corpay (NYSE:CPAY) Price Target to $355.00

Corpay (NYSE:CPAY) had its price target lifted by Barclays from $340.00 to $355.00 in a research note released on Tuesday, Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts also recently issued research reports about the company. Jefferies Financial Group boosted their target price on Corpay from $340.00 to $355.00 and gave the company a buy rating in a research report on Friday, April 12th. Robert W. Baird boosted their price objective on shares of Corpay from $355.00 to $376.00 and gave the company an outperform rating in a research report on Thursday, April 4th.

Corpay Price Performance

Shares of NYSE:CPAY opened at $295.80 on Tuesday. Corpay has a 52 week low of $204.04 and a 52 week high of $319.94. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $21.36 billion, a price-to-earnings ratio of 22.41, a price-to-earnings-growth ratio of 1.13 and a beta of 1.23.

Corpay (NYSE:CPAY) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $4.17 EPS for the quarter, beating analysts’ consensus estimates of $4.16 by $0.01. Corpay had a net margin of 26.13% and a return on equity of 37.56%. The firm had revenue of $937.32 million during the quarter, compared to the consensus estimate of $968.39 million. On average, equities research analysts predict that Corpay will post 18.17 EPS for the current year.

Hedge Funds Weigh In On Corpay

Large investors have recently bought and sold shares of the business. Sunbelt Securities Inc. purchased a new stake in shares of Corpay during the first quarter valued at $34,000. Massmutual Trust Co. FSB ADV bought a new position in Corpay in the first quarter worth approximately $61,000. Financial Management Professionals Inc. purchased a new stake in shares of Corpay during the 1st quarter worth $130,000. GAMMA Investing LLC bought a new stake in Corpay during the first quarter valued at about $149,000. Finally, Wedmont Private Capital purchased a new position in shares of Corpay in the 1st quarter worth approximately $242,000. Hedge funds and other institutional investors 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.