Royal Bank of Canada Reaffirms Sector Perform Rating for Corpay (NYSE:CPAY)

Royal Bank of Canada reaffirmed their sector perform rating on shares of Corpay (NYSE:CPAYFree Report) in a research report report published on Friday morning, Benzinga reports. The firm currently has a $310.00 price objective on the stock.

A number of other equities research analysts have also recently weighed in on the company. Robert W. Baird upped their price objective on Corpay from $355.00 to $376.00 and gave the stock an outperform rating in a research note on Thursday, April 4th. Barclays decreased their price objective on Corpay from $355.00 to $350.00 and set an overweight rating for the company in a research note on Monday, May 13th. BMO Capital Markets decreased their price objective on Corpay from $360.00 to $350.00 and set an outperform rating for the company in a research note on Thursday, May 9th. Wells Fargo & Company began coverage on Corpay in a research note on Wednesday, June 5th. They set an equal weight rating and a $285.00 price objective for the company. Finally, Jefferies Financial Group upped their price objective on Corpay from $340.00 to $355.00 and gave the stock a buy rating in a research note on Friday, April 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $334.11.

Get Our Latest Stock Analysis on CPAY

Corpay Trading Up 1.8 %

Shares of CPAY stock opened at $267.15 on Friday. Corpay has a twelve month low of $220.39 and a twelve month high of $319.94. The stock has a market cap of $18.77 billion, a PE ratio of 19.88, a price-to-earnings-growth ratio of 1.04 and a beta of 1.21. The stock has a fifty day moving average price of $278.80. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.48.

Corpay (NYSE:CPAYGet Free Report) last issued its earnings results on Wednesday, May 8th. The company reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.80 by $0.04. Corpay had a return on equity of 36.97% and a net margin of 26.29%. The business had revenue of $935.25 million during the quarter, compared to analysts’ expectations of $936.25 million. Research analysts predict that Corpay will post 17.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Global Retirement Partners LLC acquired a new position in shares of Corpay in the first quarter valued at about $25,000. Headlands Technologies LLC acquired a new position in shares of Corpay in the first quarter valued at about $31,000. Sunbelt Securities Inc. purchased a new stake in shares of Corpay in the first quarter worth about $34,000. RFP Financial Group LLC purchased a new stake in shares of Corpay in the first quarter worth about $35,000. Finally, Hollencrest Capital Management purchased a new stake in shares of Corpay in the first quarter worth about $46,000. 98.84% of the stock is owned by institutional investors and hedge funds.

About Corpay

(Get Free Report)

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.

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Analyst Recommendations for Corpay (NYSE:CPAY)

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