Corpay (NYSE:CPAY) Price Target Cut to $326.00 by Analysts at JPMorgan Chase & Co.

Corpay (NYSE:CPAY) had its target price reduced by equities researchers at JPMorgan Chase & Co. from $330.00 to $326.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 13.98% from the stock’s current price.

CPAY has been the topic of several other reports. Royal Bank of Canada restated a “sector perform” rating and issued a $310.00 price objective on shares of Corpay in a report on Friday, June 21st. Robert W. Baird upped their target price on shares of Corpay from $355.00 to $376.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Bank of America lifted their price target on shares of Corpay from $326.00 to $331.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. BMO Capital Markets lowered their target price on Corpay from $360.00 to $350.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Finally, Jefferies Financial Group lifted their price target on Corpay from $340.00 to $355.00 and gave the company a “buy” rating in a research note on Friday, April 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Corpay currently has a consensus rating of “Moderate Buy” and a consensus target price of $334.36.

Corpay Price Performance

Shares of CPAY traded up $5.59 on Friday, hitting $286.01. The company’s stock had a trading volume of 79,074 shares, compared to its average volume of 478,544. The business has a 50 day moving average price of $270.32. Corpay has a fifty-two week low of $220.39 and a fifty-two week high of $319.94. The firm has a market capitalization of $20.10 billion, a P/E ratio of 21.31, a PEG ratio of 1.05 and a beta of 1.20. 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:CPAY) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $3.84 EPS for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. Corpay had a net margin of 26.29% and a return on equity of 36.97%. The firm had revenue of $935.25 million for the quarter, compared to analyst estimates of $936.25 million. On average, equities analysts forecast that Corpay will post 17.84 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CPAY. Vanguard Group Inc. acquired a new position in Corpay in the 1st quarter worth about $2,431,089,000. JPMorgan Chase & Co. acquired a new position in shares of Corpay in the first quarter valued at approximately $1,429,445,000. Price T Rowe Associates Inc. MD bought a new position in Corpay in the 1st quarter valued at approximately $1,355,377,000. Boston Partners acquired a new stake in Corpay during the 1st quarter worth approximately $553,667,000. Finally, Sustainable Growth Advisers LP bought a new stake in shares of Corpay in the first quarter worth $553,279,000. 98.84% of the stock is currently owned by institutional investors and hedge funds.

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.